Hi All,
Im very new to this forum, so Hey!.
My Father In-law and I have both been very interested in investing in the US market. He has had investment properties for years in Australia, but thinks (as many of us do) that there is an amazing opportunity to invest in the US property market.
The only issue we have at the moment, is that we are not that well informed about the procedures, and the implications of having properties over there, and where the best place to be is. We have done some research and both have our own opinions (we have both lived there for extended amounts of time)
here is our situation,
– We have available cash so borrowing funds is not necessary, Unless it works out better to spread the funds over several properties instead of just a couple.
– My wife and I are moving over there permanently next year and will have residencywe have looked at a couple of companies to "help" inform us, and go through the process, but they often just turn into "hard sell" pressure sale companies which we are not interested in. We do not want to get put on a group email list that sends out daily emails about get rich quick schemes. we want someone that can answer our questions, give us personalized info for our situation and walk with us through this step into our new investments…
anyways, not sure if anyone else is in this boat, but id love to chat about where to go from here.
regards,
Brad
Hi Brad,
Good luck with the move and best wishes with investing!
You don't need to pay stupid amounts to learn how australians buy property over in US, you will get a much better idea when you land in the states for yourself!!
Follow the threads on the overseas investing section in this forum and you can't go wrong. You have an advantage as you will be a resident, with your own social security number and access to locals on the ground and US accountants who can help you with the setup.
Bank owned realestate is where the bargains are and it's best to look at areas that are have great infrastructure and solid industry as to avoid investing in an unsuitable area.
BTW where in the states will you be living?
Good luck , and happy investing.
regards,
Dave
Thanks for the reply and best wishes Dave,
we are moving to California, and then possibly later to Nashville…
Brad,
Trying to make it big in Hollywood, with a fall back to the country music scene??
California is a great place, I lived in Simi Valley for a year and loved it.
Would you invest in states you are living in? as you could save a bundle on collecting rent yourself? (there is no direct debit system in the states, and you wouldn't want cheques from your tenants as they mostly bounce!!) It all depends on if you have time to manage the properties yourself.
Dave
@reinterbrokers whats your name … who do i address the email to
Yeah dave thats almost it hahah … i have some music friends in nashville so who knows….
i would prefer to look at states i live in, Im also a carpenter by trade so Im interested in doing some quick renovations/face lifts on any that i live near. Yes the "lack of direct debit" is frustrating.
But in saying that im also open to investing in other states and paying a property manager.
Hi Brad,
i am not sure if I can assist you but i have personally invested in 4 states in the USA, every place has a different strategy. I could probably provide you with some ideas to gain an understanding about the various different investment concepts available in the USA.
I am keen to build relationships with people so that we can all gain from each others experience. I look forward to talking with you at some stage.
My name is Marc my email is [email protected]
Kind regards,
Hello all,
I have been investing in the USA for many years and where I have found the soundest investment so far is in Kansas City. The property is cheap and will yield at least a gross 20% ROI. It is also in line to have a super highway running right through it from Mexico to Canada which will bring even more infrastructure and jobs. Therefore, means more renters and less supply and demand which means properties will begin to see big capital gains.
Regards
Hi Brad
I recently attended Steve McKnights seminar he held in Perth. He wetted my appetite for US property and while I was waiting to talk with him I met someone who had been investing (and still is) in Texas. He told me that the laws protecting landlords were satisfactory there and the economy was the 2 reasons he bought there. Take a look at this web site, it might help out? http://www.zillow.com
If you want his contact details (he told me that he helped people get into the market but also provided general information for those that were interested to know more) then let me know, I am sure he would be happy to hear from you. I only spoke with him briefly and we just had a few emails back and forth but he seems decent enough. Might be an option for you.
All the best
Marie
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