All Topics / General Property / Cash Flow Gold Detroit Gold I tell you!
Real money in your pocket every month after expenses!
Detroit is at rock bottom, I should know I was just in the states looking for the best market to buy into.
Detroit is GOLD providing you master this one complex rule…………..Buy in the right area high rental demand and property which was $200,000 2 years ago you can get for under $40,000. Not so sure you could do it all yourself? well check out http://www.cashflowgold.com.au
There has never been a better time to generate real income like this let alone what the capital growth could do for you!
Thanks for reading and please ask any questions you wish.kameruka,
Just a few questions,
I looked at Detroit real estate a little under 12 months ago, at that time there appeared to be a lot of people leaving Detroit due to employment problems. As a result , properties were (and still appear to be dirt cheap).
Do you think this has changed?
There are multiple companies similar to this one(possibly better presented than 'cashflowgold') though that have not lived up to their claims, either not getting a tenant, getting a tenant but for much less than quoted or not offering full disclosure to potential buyers. Is cashflowgold any different to this?
Looking at the prices $30k+ per property seems really cheap to an Australian eye, but generally speaking is certainly not at the bottom end as far as pricing goes in Detroit. But if the assurances are valid i guess its not that bad. agree/disagree?
Finally,
Are you affiliated with this company in some way?
Have you purchased properties through this company, if so, please outline performance?
Does this company required 100% cash for sale, or is finance an option?Full disclosure goes a long way around here and if this product is as good as claimed, im sure you will have no end of people knocking on your door.
Are there any reliable companies for this out there, or would one be better off going it independently?Cheers,
Mick
kameruka wrote:Real money in your pocket every month after expenses!
Detroit is at rock bottom, I should know I was just in the states looking for the best market to buy into.
Detroit is GOLD providing you master this one complex rule…………..Buy in the right area high rental demand and property which was $200,000 2 years ago you can get for under $40,000. Not so sure you could do it all yourself? well check out http://www.cashflowgold.com.au
There has never been a better time to generate real income like this let alone what the capital growth could do for you!
Thanks for reading and please ask any questions you wish.hi there had a look at your website. just curious why did you decide to link australian investors to usa properties?
we know most are selling, if they are selling very cheap. the economy is in big trouble. detroit in particular high unemployment.
lots of up to date information via forums from there as well as other sources.
good luck to you for giving it a go. some of the properties look in poor condition as do the surrondings. the maintenance costs must be horrendous.
who pays for the council rates/taxes that may be months in arrears?it would be difficult too i would imagine to get an understanding of residential tenancy rules and tax etc.
plus any issues around earning money etc off shore.
as i say good luck. it can interesting enough investing in this country let alone off shore.
regards.Hey investors so many questions and very happy someone is interested.
I am on my way out now but just a quick bit of info until I have later.I am not much of a website builder so sorry if it a bit square but there is loads of info on there.
I have been to Detroit myself and have an incredible team there and a wonderful accountant here for me it works better having specialists on-board to answer my questions when they come up.
I purchase repair tenant and put in place management there is nothing to do just purchase one investment property from and Australian to another Australian except the asset is in America. Set up a trust account for the funds to ease the tax burden an all your profit and as you would know with the Australian tax treaty you can pay all your taxes here in Australia just run this by your accountant first though. Ensure your account has clients who buy investments overseas or you will need to find one who has the experience.
There is no company as such I buy outright pay all outstanding monies do substantial repairs taking these properties past city requirements and ensuring it is a solid 3-4 bedroom home solid brick on a fantastic street, I have tenants fall over themselves to rent these homes and once under a 12 month lease and happy paying me loads of cash / profit I then offer it to Australian investors at 30%Please read my website in detail loads of stuff there and thanks again for your comments and I will write a bit more tomorrow or later tonight and go back and answer anything i have not had time to do just now.
I have only started last week telling people about this.
I will and do disclose everything nothing to hide just want to get this out there.Hey Investors back and excited to answer some questions asked.
I'll try to copy Mick's questions from above to be accurate.
Q.I looked at Detroit real estate a little under 12 months ago, at that time there appeared to be a lot of people leaving Detroit due to employment problems. As a result , properties were (and still appear to be dirt cheap).
Do you think this has changed?Property is booming in Detroit there are investors everywhere snapping up bargains this market won't last long already i see the bottom end rising. When I was turning up to inspect a home 3 other investors turned up behind me with in 15 minutes say a home is for sale at $12,000 in most cases if it is a good area you would need to offer $15,000 and still be lucky to get it. As for employment there are things happening in Detroit it is very important to buy in a great area.
Q. There are multiple companies similar to this one(possibly better presented than 'cashflowgold') though that have not lived up to their claims, either not getting a tenant, getting a tenant but for much less than quoted or not offering full disclosure to potential buyers. Is cashflowgold any different to this? Look I am not a company I am a very excited investor I have a very very strong team of advisers who charge me for services such as accountants and they are the best i can find to get the best possible results and same goes for my team in Detroit. I am and will continue to earn this passive income weather I sell an investment or not every month.
I demand the homes be in a fantastic street have great street appeal and therefore in high rental demand. I look at upwards of 500 homes a week and would select at most 10 and of this I request HD video and feedback from my team on about 5 and from that just maybe buy 1. I buy every property with the intention I am going to keep it myself. I have the insurance paid for 1 year + 1 year rental agreement, management in place and have the C of O and all Debts paid, Like I said I buy it as if i will keep it myself. So why sell you ask? well there is profit in it a small margin to cover risks such as vandalism etc whilst the home is under repair etc and unforeseen costs.
I have seen many international companies with a sharper presentation than mine but no-one offers the full complete package at this price topped with the quality of homes and locations no-one even comes close. anyone out there that wants to sharpen up my web page please let me know lol.
It is really a no brainier I don't want to be greedy I would rather get alot of little bits than a few big bits that way more happy clients and bigger returns for the buyers.
Q. Looking at the prices $30k+ per property seems really cheap to an Australian eye, but generally speaking is certainly not at the bottom end as far as pricing goes in Detroit. But if the assurances are valid i guess its not that bad. agree/disagree? Well bottom end is free i seen homes for less than the cost of lunch in Detroit but if you can't rent it what is it worth? That's is the biggest question to ask yourself, you must buy in a great area / street and that requires a higher price and therefore provides rental return and demand. The home I am doing rehab on now "Brace see website" it will have new kitchen carpet paint gardens and a complete going over.
You get what you pay for these homes were well over $100,000USD 2 years ago.
Q. Are you affiliated with this company in some way? I am the so called company, It's just me i have just purchased my first two homes myself my team are fixing them up as we speak ready for sale in late Sept early Oct with everything flowing nicely and Brace is already sold. I hope to buy sell / renovate and pass on up to 20 properties like Brace or Eastwood before Christmas. I personally want to own 31 properties myself within 12 months. Passive income from 31 properties less all overheads $18,600pm not to mention potential capital growth which could blow your mind!
Q. Have you purchased properties through this company, if so, please outline performance?Like I said I am just an investor and can see an opportunity to share these deals. I was very lucky to meet a great bunch of people in Detroit who showed me the light and they have done this over and over again and love it I learned more form their experiences than if had been there for 2 years myself trying to work it out. As mentioned I have 2 properties and just sold Brace. Payment will be received once it is finished and tenant settled in
Does this company required 100% cash for sale, or is finance an option?
If you can get finance well done all i could use was the equity in my own home. Banks won't lend to non Americans and as far as I know Australian banks won't lend for offshore investments but I could be very wrong it is not my area of expertise please see professional advice.
Q. Are there any reliable companies for this out there, or would one be better off going it independently?
Not sure what you mean I just stand bye what i am doing the figures do add up and i will be back in Detroit soon and anyone is welcome to do a tour with me and look at your purchased property and buy more while you are there if you wish. Like I said I do all the work as if I am keeping it myself – I DON'T WANT YOU OR ANYBODY ELSE TO BUY ONE SINGLE INVESTMENT FROM ME BECAUSE THAT MEANS IT HASN'T WORKED.
I WOULD EXPECT YOU TO BE BEATING DOWN MY DOOR TO BUY LOADS MORE THAN JUST ONE PROPERTY!Ok Pully your questions.
Q. Why did you decide to link Australian investors to USA properties?Great question with a simple answer I want passive income money coming in every month forever clear profit without putting $300,000 on the line. I was very focused of return and growth potentialMost are selling, if they are selling very cheap. the economy is in big trouble. Detroit in particular high unemployment.
lots of up to date information via forums from there as well as other sources.
Yes this is right so would you not consider buying in a high demand area of Detroit and take advantage of the biggest property crash in our life time?good luck to you for giving it a go. some of the properties look in poor condition as do the surroundings. the maintenance costs must be horrendous.
I take it all on If it a solid home in a great street great street appeal it is a win win and the rehab is expensive that's why is all wrapped up with a tenant so the investor has no worries with a 12 month lease agreement. whilst there in Detroit i witnessed 30 phone calls in one day for a single property my friend advertised in the local paper.who pays for the council rates/taxes that may be months in arrears? I have it all paid up as I am the owner prior to any sale.
it would be difficult too i would imagine to get an understanding of residential tenancy rules and tax etc.That's why i have a fantastic property manager who is managing all my investments and he can if you wish stay with your property when purchased.
plus any issues around earning money etc off shore. See a great accountant like i did it is simple.
as i say good luck. it can interesting enough investing in this country let alone off shore. this county is a nightmare i have done it and won't go there again.
regards.Great questions guys please have a good long read of my website and please contact me for any further information.
In a nutshell I am trying to offer no hassle complete package quality high return homes for investors, where i clear all debt and manage all risks to completion and if I don't sell it I am still making money anyway so it is a win win.
If I can offer 300+ under $40,000 AU and the dollar stays high at this price before the market climbs it would be great and i guess we will have to see.I would like some feedback or help fixing my website if someone has the skills?
People selling Detroit are simply incredible I have been searching the web for anyone to offer the complete deal like on my site and can't believe the business out there expecting Aussies for pay out tens of thousands of dollars and saying repairs and tenants need to be sorted from the other side of the world. Correct me if I am wrong but am I the only one with the complete investment package? and why is it so hard not to offer them whilst already generating income? like me.I am doing this for people to generate cash and at the same time I than too make a little and can buy another etc and around and around, I had been looking for something like this for years!
I do understand people being sceptical and just wanted to let you know ask as many questions as you like. I will be in Sydney at the end of the Sept if anyone wants to catch up for a coffee around Castle Hill?I will admit the two homes Brace and Eastwood are under rehab and I will have loads of great photos and video just before the tenant moves in when the go up for sale in about 2 weeks, Also Brace is sold but the photos will go up all the same.
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