- jayhinrichs wrote:just tough for those investors who went through the TRR's learning curve,,,,I wonder if TRR compensates these people when their investment does not come anywhere near what they represent?
They may say they are buying direct from banks,,,but that is pretty hard to do.. Alex can vouch for that.. YOu may get the odd one. Or you have to guy millions at one time and take the lemons along with the good ones…
TRR might have started that way but that horse has left the barn by and large,, Its courthouse steps and short sales right now..
and the auction companies…I suspect they are buying at the for profit auction companies monthy auctions.. And buying off of RMLS if they are not going to the foreclosure sales. And in Georgia it takes 45 to 90 days to get your deed if you by at courthouse steps.. So that puts a wrinkle into most flipping companies as they have to hold the properties for a lenth of time before they can resell.
Was TRR the actual Seller did they sign the HUD 1 and settlement statements as the seller…
I will look up this one you posted and run a chain of title and report back
Georgia is one of the last states that allows for double escrows… I just bought one from Alex last week in that manner…
Alex and company made a nice opportunity fee we got a nice home for our long term program everyone is happy…
However you got to love the US land of equal opportunity,, I doubt I could land on the shores of AU and set up shop as a property seller flipper or any other kind of business…
Deals like that make every one happy. Both buyers and sellers. Can you resend via email the rental break down needed for the TWH module.Think we have the first two homes for the Charlotte market.
Hi Alex
TRR have been very successful as they have been able to generally provide a decent product and as they are buying direct from the Bank there are no added commissions. As I said I know some investors who have purchased some great properties and when I was in Atlanta last year I viewed a couple.I think they have sold over 300 homes.
Cheers, WI
worldinvestor wrote:Hi Alex
TRR have been very successful as they have been able to generally provide a decent product and as they are buying direct from the Bank there are no added commissions. As I said I know some investors who have purchased some great properties and when I was in Atlanta last year I viewed a couple.I think they have sold over 300 homes.
Cheers, WI
Direct from the bank ,or auctions being banks just don't sell that way. Directly to buyers seemed to be very rare. Even with the numbers banks liquidate. Now if they are buying through real estate agents that makes sense. Seems to be a confusing topic for clients buying from banks or buying bank assets that are sold through licensed real estate agents.
Now on the TRR I am on there email so seen quite a bit of their homes. I like the rehab they do as well. I even have saved their emails so my staff can see how they market and sell their homes. Very good marketing and advertising that they have. Michael is very good how he walks through the house and describes each room.
talk soon
would be extremely rare if a company like TRR that is doing 100 homes a year or so would have any direct pipeline to any bank save the odd one… When they say bank they probably mean short sales,, and the for profit auctions.-
jayhinrichs wrote:would be extremely rare if a company like TRR that is doing 100 homes a year or so would have any direct pipeline to any bank save the odd one… When they say bank they probably mean short sales,, and the for profit auctions.-Why Jay ? Is it hard to get properties dealing straight with the bank. I know that the big wholesalers in Detroit (selling 100+ house/year) are buying packages STRAIGHT from the bank. In cases involving small investors, like me, the deals (with packages of 5+ properties) are made through RE brokers.
Buy 100 houses at one time. Yes,,
Highly doubt TRR buys 100 houses in one closing……they are buying just like any other investor in that market.. And I will bet you dollars to donuts they are doubling escrowing. Although with the market changes in the lat 6 months that is probably tougher
Short sales and auctions….
jayhinrichs wrote:would be extremely rare if a company like TRR that is doing 100 homes a year or so would have any direct pipeline to any bank save the odd one… When they say bank they probably mean short sales,, and the for profit auctions.-All TRR properties are purchased direct from Bank or auction, I assume they work with a realtor, my point is there is no huge mark up on properties no hidden costs etc, the investor pays a one off fee of $4000 for TRR to secure the property.
They currently manage over 300 properties from information I have sourced.This is attractive when you consider the outrageous markup on properties in US, as much as 50%+.
Most companies selling foreclosures to investors require a membership fee of $4000+, do not disclose the address, so they can tack on their huge markups.
Cheers, WI
WI
Agreed,,,,,mark up is reasonable
Comes down to execution. 3 months to rehab according to the other TRR client is just negligent… Also these TRR clients have one house that never rented. So bad purchase by TRR. And one that is trashed….so their proprty management is human vs a vi US market…
What raises res flags is when TRR cients claim they get tenants in ga. Within a week. They are under pressure b/c rehab is 3 months and there is no way any Atlanta pm can put the best client in in one week. Far too many rentals to choose from on the renters side…
We take 4 to 6 weeks to place tenant. 3 to 5 apps to choose one tenant. Since we have to pay for any vacancy or repairs we are super picky. TRR if there is vacancy or repairs it’s just an oh well e mail to the owner and by the way we need more money.
If the OZ investor ever took the time to run the numbers. They would not be happy,,, just like I pointed out with these TRR clients that have two lemons that they bought from TRR who cares what the mark up was when the properties do not generate any cash flow
I submit to the form that your experiences are the exception not the norm… And you spend extra thousands a year and time to make sure your investments run right most investors are sold this turn Kay nirvana and this is where the heart ache lies
dan luchmaya wrote:You would be better off buying already tenanted homes from other companies. The property that I purchased fro0m TRR settled in July and reno completed 2 months ago and still no tenant. TRR finally came back to me and said that I needed to do some more reno works to attract a tenant.
What a dud!!!<font color="#000000"
:(” title=”>:(” class=”bbcode_smiley” /> Ugh. This is why I only deal in pre-tenanted, not a cent to be added, fully performing properties.
Sure, the return won't be as high. But the hassle-free, 5 minute a month email maintenance is worth its weight in gold, and gives me all the time in the world to look for more hassle-free deals.Ziv Nakajima-Magen | Nippon Tradings International (NTI)
http://www.nippontradings.com
Email Me | Phone MeZiv Nakajima-Magen - Partner & Executive Manager, Asia-Pacific @ NTI - Japan Real-Estate Investment Property
Hi Ziv
I personally like to buy, renovate and then tenant all within 4-5 week period. This has been cost effective for me and I do not believe I could achieve the returns I am achieving if I purchased turn key.Jay
Maintenance issues, sure I think this is a big one for all investors, as you mentioned in previous posts you need to account for I think around $2000 per property….. yield is very important to help mitigate this.
Its not all bad for the A Oz investor – the re-assessment of county taxes will improve the rental yield significantly in some cases.
Also, we now see the Oz $ starting to decline, my gut tells me it may now struggle to maintain recent levels, this is brilliant for the Oz investors who have purchased and plan to bring the cash home, nice little earner.
WI
WI,
I agree currency spread is a nice factor,,, back in the early 2000's I was lending hard money in BC… I remember one loan in particurlar that I made 100k CA… cost me 68k US… by the time the guy paid me off the CA had stregthened 20% or so… So I got my 15% yeild on the note plus a 20% bump in principal.. that was a huge earner… Same with the Real Estate I bought in Kelowna. I sold Napa valley home at the peak and bought a real nice place on the Oakanogan Golf club course for about 260k canadian that cost me 180 is US… then sold that and got a bump as well.
The one I missed on though and what orginally brought me to Kelowna was ski in ski out condos at Silver Star for about 60k canadian at the time which I think was just about 40k US… I wanted to buy a few ended up buying the house.. But those would have been a terrific capital growth investment. Just love that part of the world… And recommend anyone coming to the US to check out BC its spectacular… Take the train from Vancouver over to Calgary thats a great 2 day trip.
JLH
worldinvestor wrote:do not believe I could achieve the returns I am achieving if I purchased turn key
Absolutely, that's exactly what I'm saying.
More hassle = More profit. 4-5 weeks is spectacular, but it's the time it takes me to find and negotiate a new deal. I'd rather do more of those with lower profits.worldinvestor wrote:brilliant for the Oz investors who have purchased and plan to bring the cash home, nice little earnerYup, we've been enjoying that one too, so have clients. JPY up, AUD down, time to bring them cows home
Ziv Nakajima-Magen | Nippon Tradings International (NTI)
http://www.nippontradings.com
Email Me | Phone MeZiv Nakajima-Magen - Partner & Executive Manager, Asia-Pacific @ NTI - Japan Real-Estate Investment Property
I think the lesson here is :
One ; WI from what I have read this year has traveled to Atlanta 2 times ( of course correct me if I am wrong)… So that is 2 to 4 weeks of travel.. this probably cost at least 3k or more per trip.. Not sure how many houses she owns.. but lets say she has
4.. and lets say her cost to travel and her other soft cost accounting lawyers etc. plus I am sure she has had some maintenance, and maybe a vacancy and maybe a letting fee. So this could all add up to 10 to 12k in one year.take the 4 houses in atlanta probably rented average 850 to 900 a month.. thats 3 months of income per house per year.
And this is the honey moon period, right after an investor buys them and rehabs them,,, maintenance becomes more accute there will be vacancies and based on her e mails she is hands on and will fly over to Atlanta to deal with these issues.
So yes the gross yeild is what it is
its what is the net yield I still do not get how the Aussie can think in any terms except Net yield who the heck cares what the gross is … Its all about net..Just ask the people that posted that bought 4 houses from TRR and have had Zero net yield and probably have had negative yield they will never come close to what they thought they would get,, will probably exit the market and I will bet dollars to donuts will take a capital loss..
WI will continue to come to the US and and have this over head,,, yes its a tax deduction but its still time and money..
Now if the market turns and we all sell for double what we paid for them you will recoup…
My point is the NET yields are just fantasy because you want to beleive
wait until WI has a condenser unit go missing or a house trashed,,, It happens to ALL of us in the business…..When you play in the Blue color trending to lower neighborhoods and if you do not know what that last statement means then keep your money at home…Please we do not need anyone else losing their hard earned dollars chasing a fantasy dream.. At least I do not need it.. Some spruiekers do and other johnny come lately OZ resellers.Its funny,,, any true investment property that is sold in the US no buyer will buy it without full disclosed Pand L for the last 2 years backed up by tax returns, Sellers disclosures and the like ,, I bet non of the OZ buyers even know to ask or know what these are. you have this whole SFR industry where every one buys on promises and data that is just bull crap to say the least.
JLh
zmagen wrote:worldinvestor wrote:do not believe I could achieve the returns I am achieving if I purchased turn key
Absolutely, that's exactly what I'm saying.
More hassle = More profit. 4-5 weeks is spectacular, but it's the time it takes me to find and negotiate a new deal. I'd rather do more of those with lower profits.worldinvestor wrote:brilliant for the Oz investors who have purchased and plan to bring the cash home, nice little earnerYup, we've been enjoying that one too, so have clients. JPY up, AUD down, time to bring them cows home
Yep, we are on the same page.
May be a little more work but all worth it to achieve better results.Infact I do not like the idea of a property with a tenant in place, no control whatsoever.
Cheers, WI
jayhinrichs wrote:I think the lesson here is :One ; WI from what I have read this year has traveled to Atlanta 2 times ( of course correct me if I am wrong)… So that is 2 to 4 weeks of travel.. this probably cost at least 3k or more per trip.. Not sure how many houses she owns.. but lets say she has
4.. and lets say her cost to travel and her other soft cost accounting lawyers etc. plus I am sure she has had some maintenance, and maybe a vacancy and maybe a letting fee. So this could all add up to 10 to 12k in one year.take the 4 houses in atlanta probably rented average 850 to 900 a month.. thats 3 months of income per house per year.
And this is the honey moon period, right after an investor buys them and rehabs them,,, maintenance becomes more accute there will be vacancies and based on her e mails she is hands on and will fly over to Atlanta to deal with these issues.
So yes the gross yeild is what it is
its what is the net yield I still do not get how the Aussie can think in any terms except Net yield who the heck cares what the gross is … Its all about net..Just ask the people that posted that bought 4 houses from TRR and have had Zero net yield and probably have had negative yield they will never come close to what they thought they would get,, will probably exit the market and I will bet dollars to donuts will take a capital loss..
WI will continue to come to the US and and have this over head,,, yes its a tax deduction but its still time and money..
Now if the market turns and we all sell for double what we paid for them you will recoup…
My point is the NET yields are just fantasy because you want to beleive
wait until WI has a condenser unit go missing or a house trashed,,, It happens to ALL of us in the business…..When you play in the Blue color trending to lower neighborhoods and if you do not know what that last statement means then keep your money at home…Please we do not need anyone else losing their hard earned dollars chasing a fantasy dream.. At least I do not need it.. Some spruiekers do and other johnny come lately OZ resellers.Its funny,,, any true investment property that is sold in the US no buyer will buy it without full disclosed Pand L for the last 2 years backed up by tax returns, Sellers disclosures and the like ,, I bet non of the OZ buyers even know to ask or know what these are. you have this whole SFR industry where every one buys on promises and data that is just bull crap to say the least.
JLh
Jay
forget the $850-900 rental returns, that is why I really like the big homes at the right price, I am achieving from $1000-1300 (8 properties) so far. I certainly care about 20% gross yields, plenty of fat in the deal to mitigate any slippage and that is the point.Personally I don't need someone holding my hand, I appreciate different strokes for different folks.
I want maximum return and when I offload the properties I want to keep ALL the profits as at the end of the day it is my money, my risk regardless of the model.
It is important not to assume that every OZ investor is buying blind, sure there will be those that will muddle and achieve very little, but I am also in contact with some savy investors who research and spend lots of time analysing data and organising correct structures to reduce tax etc. not every investor is tarred with the same brush.
OK, I will clarify, first trip to Atlanta was to view the area and I would recommend any forgein investor to do this, second trip was to view properties, not a necessity however a great opportunity to get away with husband and a spot of shopping at Lenox Mall which I will highly recommend.
I can not see the need to go back for quite some time, no point when you have a team doing all the work. Emails, skype etc is fine, many businesses today operate/survive using this technology.
Cheers, WI
For those who asked about my property – it is in Smith Ridge, Norcross ( photo in my profile taken at house with Bronwyn from TTR). Next one is in Union City – rehab underway now. All great so far!! thanks , Trina
WI:
Perfect,,,
thats my exact point.. by better properties and one has a chance… buy low end and its not the same story….
If you do not have the time energy or expreince that you do our Model is a great alternative instead of doing nothing.
And just like the US there are always those that want to do it themselves have the time to write skype travel deal with the day to day but if you don't and don't wish to then, I think we offer the next best option as oppossed to thinking some turn key operator is going to take care of all your needs… Depends on the person right?
next trip if your coming in our summer try the Northwest,,,, Hotlanta is just too darn hot in the summer…
Off to NYC today myself
JLH
trinalewis wrote:For those who asked about my property – it is in Smith Ridge, Norcross ( photo in my profile taken at house with Bronwyn from TTR). Next one is in Union City – rehab underway now. All great so far!! thanks , TrinaThanks for this, always interested in what other investors are sourcing.
http://www.zillow.com/homedetails/2940-Smith-Ridge-Trce-Norcross-GA-30071/80142085_zpid/
Is this the property.
How much did it rent?
Looks pretty good, newer construction and good county.Was it difficult to secure as I know TRR have many clients and properties don't even hit the net.
Cheers, WI
worldinvestor wrote:trinalewis wrote:For those who asked about my property – it is in Smith Ridge, Norcross ( photo in my profile taken at house with Bronwyn from TTR). Next one is in Union City – rehab underway now. All great so far!! thanks , TrinaThanks for this, always interested in what other investors are sourcing.
http://www.zillow.com/homedetails/2940-Smith-Ridge-Trce-Norcross-GA-30071/80142085_zpid/
Is this the property.
How much did it rent?
Looks pretty good, newer construction and good county.Was it difficult to secure as I know TRR have many clients and properties don't even hit the net.
Cheers, WI
TRR I am on their email mailing list they send out. I have looked at the last 50 or so properties that they sent out. Yes I spend the time to go through the whole email.Always looking for ways to improve our company. I think the funny thing no matter how good they do, or how nice the houses looked. I think they understand real estate and source very nice homes. There will always be the jealous or angry ones who want to knock people down. Not sure if this is common in the Australia but I see this so much here in the states.
Bottom line TRR seem to do a good over all job , nice homes alot of satisfied clients. In this business you can not make every one happy.Some times no matter how good you do.The one house that does not work out is the band wagon every one jumps on. Been through this before and just happened again.
Again I am here in the states but seeing and meeting some Australian resellers .I do not feel I am a rookie in this game so take my opinion for what it is worth .I think both Emma ( from post only ) and Trr are legitimate in their operations and homes they source . So hope for continued success for all.
worldinvestor wrote:Jay
forget the $850-900 rental returns, that is why I really like the big homes at the right price, I am achieving from $1000-1300 (8 properties) so far. I certainly care about 20% gross yields, plenty of fat in the deal to mitigate any slippage and that is the point.Personally I don't need someone holding my hand, I appreciate different strokes for different folks.
I want maximum return and when I offload the properties I want to keep ALL the profits as at the end of the day it is my money, my risk regardless of the model.
It is important not to assume that every OZ investor is buying blind, sure there will be those that will muddle and achieve very little, but I am also in contact with some savy investors who research and spend lots of time analysing data and organising correct structures to reduce tax etc. not every investor is tarred with the same brush.
OK, I will clarify, first trip to Atlanta was to view the area and I would recommend any forgein investor to do this, second trip was to view properties, not a necessity however a great opportunity to get away with husband and a spot of shopping at Lenox Mall which I will highly recommend.
I can not see the need to go back for quite some time, no point when you have a team doing all the work. Emails, skype etc is fine, many businesses today operate/survive using this technology.
Cheers, WI
WI
This was a good read and good points. There are alot of ways to be involved in real estate. Saying one system is better then the other . Looks like you are doing just fine. To be honest wish you found Charlotte before Atlanta . The homes and the way you have handled things are the type of clients we like to see come in. While things were down in real estate you really had to go with all clients. Now we are at the point where we can pick and choose who we deal with.Glad things are working out for you in Atlanta. Keep us updated on your trip.I keep saying I am coming to Australia but we got so busy. With the democratic National convention in Charlotte in Sept. I am hoping my wife can get off during that time so we can both do 12 days in Australia.
Talk soon
PS love Skype I am always one there
:(” title=”>:(” class=”bbcode_smiley” /> Ugh. This is why I only deal in pre-tenanted, not a cent to be added, fully performing properties. 
More hassle = More profit. 4-5 weeks is spectacular, but it's the time it takes me to find and negotiate a new deal. I'd rather do more of those with lower profits.
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