Hi Nathan,
I’m not exactly sure what you are asking,but I will give it a shot.Anybody can invest in USA.The way I have done it is by using a Line Of Credit that I have got here and purchased properties in Buffalo and Texas with the cash.I purchased my first properties whilst on a tour with other like minded people.The tour cost me a few dollars to go on but it was run well and introduced me to the areas that I had an interest in and also to individuals that can assist me down the track.ie property managers, banks,solicitors,rehabbers,etc.It also opened my eyes to various investment opportunities and different investment structures.There are numerous and almost unlimited opportunities available in the US, but a big warning its not all roses over there.It is very,very,very important to have a good team over there to manage your investment over there.At present I have a vacant property in Buffalo that was rehabbbed and a tenant put in.It was badly managed 2 months of rent was collected and nothing since.That was 7 months ago.The tenant was evicted and did $2500 worth of damage before leaving,its still currently vacant.I have changed property managers now so I hope things will start to work out.Investing in the USA is not for first timers in my opinion,but if you are interested it is best to go on a organised tour.There are 2 people on this forum that run tours who I would recommend.
In no particular order:1Westan and Alvin Johnson
2.Chad Simmons who I recently spent some time with in both Buffalo and San Antonio.
Both these people are running tours to the USA this year.I have no financial interest in either of their businesses.Good Luck.I’m waiting up to 10pm to call the states about some more hassles.
Regards MartinThere are 3 types of people:1. People who make things happen.
2. People who watch what happens.
3. People who wondered what happened.Hey Nathan ,
are you meaning ,can you legally go and buy a property in the US?
The answer is anyone can.You can buy it in yr own name or start up a company and buy through it if you prefer.
You just have to lodge a US tax return at the end of the year,then offset that on yr Ozzie return.(hey Brisbane hope yr well mate!)
Brisbane 04 is correct in saying there can be problems untill you get a good structure and some good support.Unfortunately it seems you cant just trust people on their word ,even from reputable recomendations,u actually need to test them out for a while over there.I personally would recomend only buying one property to start with(once youve done yr research and are happy with the managers etc) and give yr people the opportunity to prove themselves. From experience I now have at least 2 or 3 different managers(at least in mind and ready to employ) to manage my propertys in an area .This reduces the possiblity for problems (reduce risk )with the one person
In saying that though there are some fantastic, and endless opportunities available too!
We’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
Hi Nathan,
If you are new to investing in the US like myself, then you either need to trial someone who offer there services in US investing and see what they are like or get over there yourself and try and meet up with people yourself. Either way, I recommend you be across everything and you should also do your own due diligence as much as possible.
I chose to do my first US purchase through Chad Simons from gr8 real estate investments and things turned out ok for me. What I liked about these guys was that they kept me in the loop with everything that was going on and made me feel very comfortable through the process.
This was important for me being new and his business associates in the US were always happy to speak to me and answer any questions I had. Anyway just to give you an idea about my first deal, here is how it looks now.
Purchase price: $40k USD
Renovation cost me $25K USD
Assignment fee: $5k USD for this deal.Total: $70K USD
Appraised Value: $85kUSD
My property was leased out 2 weeks after the completion of the renovation for $850 USD per month.
This was all dome in 3 months.I now intend to refinance my property with a lender at its new value, so I can then pull my money out and do it again.
My second property I bought as a hold property with 30% deposit.It was a single family in the North East part of San Antonio. It was a pre foreclosure home which I purchased for $77k which was valued at $88k and is renting out for $800USD per.
So far these guys have been excellent and I would highly recommend them. Having said this however, I still intend to do my own research as it is important to not rely solely on anyone in my opinion.
Regards
Thomas
Hey thomas
just be aware of one potential hick up with your startegy . When you go to do a “cash out” refinance the best you will get is 60 or 65% of the appraised value (can’t remember of the top of my head which it is, its midnight).
so a 85K valuation ot 65% cash out means a loan of 55,000 so you will still have 15 k in the deal. (on the 70k you put in)
regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.auThanks Westan,
However these guys were up front about the loan from the beginning so I knew that I would be getting 65% of the appraisal value. I was prepared to continue with the deal knowing this from the beginning.
To be honest, i am very happy with this deal. There team of brokers were fantastic and actually just received confirmation today that my loan has been approved.
I intend to duplicate this process again once my loan is drawn down and i pull my cash out.
Cheers,
Thomas
Hi Thomas
sorry if i came across critical, i’m not intending to be. I was just giving you some info in case you didn’t know that. As far as being critical quite the contrary I’m in fact a real fan of San Antonio, and i believe you will do well by investing there.
Like your self i also own in San Antonio, my private clients know we have been active there since Nov 2004.
regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.auWestan,
No need to apologise. Thanks for bringing it to my attention.
Good to see you are also doing well in the market. All the best with it.
I am going on a 5 day tour of Texas in July so I looking forward to seeing my properties and to learn more about the market in general.Again thanks and all the best.
have a great time
July in San Antonio, its going to be HOT !
Thomas i’ve just updated my Report on San Antonio, if you’d like to see why we are active there email me at [email protected] and i’ll forwrad ot to you
(anyone else is also welcome to it)regards westan
USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.auHi Thomas,
Thank’s for your posative feedback. Always appreciated and glad to know you are happy with your investments.
I also look forward to spending time with you on our tour in July. Its going to be very informative as well as lots of fun.
Regards
Chad
Providing Turnkey Real Estate Investments In The USA.
E-mail:[email protected]
web: http://www.gr8realestateinvestments.com
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