USA investment property

Hi Jimmy,
Have you thought about going over and taking a look for yourself?  I would suggest using an Australian company that actually spends a lot of their time on the ground in the US and has a great team set up there.  You will be relying on that team to look after your investment after all so it would make sense to know who they are, research them and feel comfortable with them.  Make sure you do your due diligance and ask lots of questions.  If you can use a company where they can show you how to set up all of your legalities and buy direct, have rehab teams in place and good property management teams to rent it out you'll be saving yourself a lot of $.  Often you'll find hefty margins on properties sold to Australian investors on properties that have had their rehab's done with a tenant in place.  But, having said that, it's up to you – if you want that convenience and are happy to pay for it, then there are quite a few companies to choose from that offer that service.
If you can afford just a little bit of your time you'll probably feel a lot more comfortable going over and doing your due dilligance.  There are tours you can do that can introduce you to teams already set up on the ground there.
I did exactly that and it was definitely worth it, and can give you further information if you want.
Good luck with your investing!
Cheers,
reme

i believe most company source properties from wholesalers who buy the properties very very cheap. Do the rehab and then sale them for a profit. I believe (my opinion only) the companies over here are more or less buyers agents with the bonus of being able to assist in the full set up of legals finance bank accounts ect. I am sure you can buy direct from the wholesalers but are them left on your own to get the rest of the puzzle sorted. The buying of the property seems like the easiest bit getting the rest set up properly is the hardest bit

Interesting comments, I have to say that to go over to the USA and spend time looking at endless properties that is at the mercy of real estate agents that you don’t really know is to me madness.

I have personaly lived in the USA and have friends that are property developers that live in Florida, they showed me so many properties that one was dazzled by what was on offer, that was in January of this year. I was very tempted to purchase, however when I started to do some serious research on vacancy rates and other criteria I decided not to go the Florida route. You need to do more than DD becuase the USA is such a huge market.

I did get in touch with a company here to see what they were selling and again they made it seem so easy, the cities that they were offering again upon research didn’t stack up.

I have invested in property in Sydney for many years and recently invested in the USA I have partnered with some people in the USA that are very switched on know there market. I would reccomend one looks at there operation.

If you wanted to make contact with me to have a chat then I can be contacted at [email protected]

Jeff

The post by TuckerOneProperties is a question I would also ask. I know the folks at Tucker One Prop's and highly recommend
them if you are interested in Kansas City property. They are people of integrity and character. We are all members of the Mid
America Real Estate Investors Assoc.. If you do come to KC to look at property and here when we meet, you are welcome to come
as our guest. About 300 members with attendance close to 100 most meetings.
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Hi TL,
To my knowledge there are a couple of different tours available,  I researched quite a few, as well as looked in to various markets including the one's you mentioned.  After much research, including weighing up the pros and cons of different options I went with Cash Flow Gold. 

My decision was based on the fact that the tour included introductions to all the teams you need access to when buying overseas (agents, property managers, rehab team, banks, insurance contacts, accountants etc…).  You meet with them and have the opportunity to ask whatever questions you want.
You are also shown different markets and areas of Michigan on tour as well (ie also outside of Detroit, in good neighbourhoods).
I didn't feel as if I was pressured to buy at any time, and decisions are left entirely to the investor.
I also liked the fact that I was able to purchase directly without any middle man – so I knew my offers were going directly to the banks without mark up or someone else taking their cut on loaded or flipped properties.

There is no denying that Michigan has been hit pretty hard, this is evident in the number of foreclosures, but I think it has quite a lot to offer and it certainly seems like a good time to look in to the market there.  There are some positives starting to come out of the state, and they are working hard on reinventing themselves, this was evident while we were there and by continuing to keep an eye on local news, trends, figures etc..

Where you buy depends on what you are looking to achieve from your investment as well – cash flow or capital growth potential, or possibly even both? For us, the cash flow is attractive, and this market is very achievable for these results, as it is in other areas as well – just be sure that you are comfortable with the team you use.  Also remember that property management is quite different than what we're used to in Australia, so a good property manager is essential.

This is all based on my personal experience only – you need to work out what is right for you.
Hope the info helps with your investigations, let me know if you want any further info from our experiences. 
Cheers
reme

Hi TL,
Sorry for the delay in response! Yes, CFG do concentrate in Michigan, it is my understanding that they have decided to concentrate their expertise in the one state.  You may be more comfortable looking in to areas outside Detroit but still within Michigan.
I did look in to other tours such as Mark Joseph realty in Florida, but it is run by an American (not that I have any issues with that) but I wanted to tap in to someone that could offer network connections from the outset.
There are plenty of companies that specialise in buying property for you in other cities, but I'm not sure how many of them do actual property tours.  Ask all of those questions when doing your research…I do suggest going there and being on the ground if you can.
Good luck with your searching, I hope you find something right for you.
Cheers
reme

I live here in the Kansas City metro and for the last 3 years have been building a portfolio of single-family investment homes here locally.  Have sold a lot of them as well.  Fortunately, this is one of the areas here in the U.S. where you can purchase less expensive homes that attract good rental income for cash flow.

Hi Everyone,

I have just joined myusaproperty.com

I am looking at investing in the USA.  I was wondering if anyone here on this forum has purchased from myusaproperty can give me some feedback on the below:

what were the average prices for the houses that they had available?
Was there a good collection of homes to chose from and were they in good locations?
Has your investment been successfully rented? 

I think I read that Rick has purchased 2 properties.  Rick can you please give me an idea if you are happy with the investments and would you do anything differently now that you have purchased through myusatoday? 

thanks,  much appreciated. 

Hey All,

I live in Kansas City and have been investing in property here over the last 8 years.  We are experiencing some unbelievable opportunities and I am hoping it will last for some time to come.  Properties are going cheap and the cash flow is inevitable.  If you have any questions I would be happy to help.