Hi,
Anyone know of the organisation Universal Events? Run by Steven Molnar discussing buying US properties in areas such as Phoenix etc for dirt cheap. Apparently they do it all for a substantial fee. He’s currently at the Secure the Future Event with others like Andrew Barnett from LTG GoldRock for forex investing…another strategy that looks to good to believe? Am really hoping for some feedback on this one. Am doing google searches on them etc. Thanks!
what did you find out on your search’s
Hi Jay,
Have given up on the idea.
Hi everyone,
As newbies to the property investing game, my husband and I are looking at the U.S to start our portfolio, I was wondering if anyone could outline from their U.S investing experience which states are the ones to look out for or to steer clear of. There are plenty of bargains from the research we've seen, but how do you guarantee that you're not buying in an area that will not bring a positive cashflow in the future or that the foreclosure deals are not worth the asking price?
Any advice would be greatly appreciated.
sandie
sands69 wrote:Hi everyone,As newbies to the property investing game, my husband and I are looking at the U.S to start our portfolio, I was wondering if anyone could outline from their U.S investing experience which states are the ones to look out for or to steer clear of. There are plenty of bargains from the research we've seen, but how do you guarantee that you're not buying in an area that will not bring a positive cashflow in the future or that the foreclosure deals are not worth the asking price?
Any advice would be greatly appreciated.
sandie
Throw a dart
at the map.You will get all sorts of opinions from those who represent certain cities that they work in. It really all boils down to your team that you develop.
And the most important fact and the one that is the most glossed over.
The majority of rentals in the US that are under 100k are management intensive… cost far more to run and maintain than the folks selling them will let on about, and in certain areas have no hope of any capital growth.
In my mind if I was going it alone and thats anyone who is buying a property and going to hire a property manager that is a thrid party vendor.
I would be looking at the high end of the market and 5 to 8% NET returns. This will get you in quality neighborhoods that have a chance of appreciating.
There is a simple reason you have low priced rentals 20k to 60k that make claims of 15% net. they come with HIGH RISK over the course of ownership, I do not care what turn Key company is promising…. Its just the demographic of the tenant base and no one can control that to a degree of certainty whats going to happen to your property…. Over the course of many years.
Good luck in ferriting out the wheat from the chaf as we say….
Tread VERY carefully. When there is money to be made there are always those out there to make a quick buck. There are some (a lot) of companies that are so overwhelmed with clients they are buying anything.
A friend of mine bought off a "reputable" company and had a property empty for 12 months.I have a friend over there buying now and would only trust her to buy from. But I'm not sure if it's for me. I may go over and have a look in a few months. She's bought 8 and retired from her job and set up a buyers agency there. She's a very experienced property investor.
She's buying under market (for these times) and rents withing 30 days.A typical property is $50K so with refub and costs comes up at $70K. Net return is about $9Kpa assuming you buy with cash. Of course there are cheaper ones but not in desirable areas. There are certain areas she won't touch. But sees other companies buying them. If you're on the other side of the globe you don't know the difference.
at the map.
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