Hi,
Am new to this site and than anyone in advance for any advice I recieve. I have been watching the US market now for some time and think there are some good real estate investments available. I don’t want to dive into the deep end but test the waters having read all the complications and stories of how hard US investments can be.
Anyway my idea is to purchase one or two smaller properties such as condos or apartments as they can be purchased very cheap in the current climate. The purchases would be cash to avoid borrowing and those hassles. I have been looking at Orlando as there seems to be nice options there in the price range I’m looking to spend ie approx 50k each. Also the area is home to one of the highest tourism markets in the US with all the theme parks etc and so I’m sure at some point things will recover and demand will certainly be high in the area.
I am going in with a medium to long term outlook on the capital and am undecided on renting out leaving empty or even advertising here in Australia as Holiday Accommodation. I am quiete prepared to travel over to assure I make the right purchase and area and also to arrange things with realtors and property managers etc.
Please please anyone with any advice on my idea or if its just flat out silly let me know I like to be different and live a little out of my comfort zone but things have usually paid off for me!!! Not Always. So hit me with your thoughts, the most important things you think I need to organise while here and also while there and anyone you can recommend here and there in any profession etc I may need.
Any advice and or ideas greatly appreciated especially those who have invested internationally in the past or present.
Sorry to post so long!!
Regards
Rowen
Hi Rowen,
I am a native New Yorker living in Australia for the past twenty years and I too am interested in getting into the property market back in the States.
I am forming an Australian / U.S. buying syndicate with my money, some money from my friends here and friends in the U.S. and generally those who are cashed up and are interested to invest in East Coast, mid market properties.I know quite a bit about favorable vs. not so strong areas across the States and the problem I have with property in Orlando is that there is a glut of properties on the market and most are available to rent and many stay empty for long periods of time. Many investors from the U.K. have invested in proximity to the theme parks and they are now practically giving their properties away – renting them cheaply and getting jittery and selling out.
Also, theme parks are a discretionary spend that may Americans can’t afford to make and cannot into the indefinite future and the parks rely to a great degree on the Domestic Market.I believe in buying properties in historically high socio-economic areas with large families and high disposable income in proximity to Manhattan (Rochester and Buffallo do not cut it).
For example, I intend on buying in Connecticut, the five Boroughs and Jersey.
My Brother in Law is also a property manager living in Connecticut and he can potentially help look after the properties bought through the syndicate which is one less burden.
On top of that, I hold a U.S. passport, Social Security number etc and as I understand it, there are many more tax advantages in working through an American Citizen as opposed to being a foreigner investor in the States.I live in Hunters Hill and would love an opportunity to speak to you or anyone else that shares the same interest in taking advantage of undervalued properties / distressed stock and foreclosed properties that can be positively geared from Day 1.
I don’t always have an opportunity to get to this site very often.
If you or anyone else is interested, I can easily be reached at [email protected] or feel free to give me a call on 0414 623 313.Love to discuss the opportunity further.
Regards,
MauriceI say only Real Estate investing is one of the most simplistic ways to earn money.
Team
I just got back from the US and man are there some great deals available atm. I am currently considering property investment options with a Chicago colleague of mine and would love some advice on the following:
1. Websites or companies that assist Australians investing in the US. From my understanding, you can either invest directly (by getting a social security ID, ITIN etc) or indirectly through the formation of trusts or via US citizens, as mentioned by Maurice
2. Contacts
While I am a bit sceptical about going into business with people I don't know, I think it'd be a worthwhile to pursue this opportunity together via forums, meetings, research assistance etc.
Let me know if you're interested on [email protected]
Cheers
Highflyer08
Rowen
I have been to America looking for the great deals and purchased some great passive income property.
Better still I can take investors through every step of the process http://www.cashflowgold.com.auJason
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