Hi Lawsj,
I can not comment for all areas in DC, however my experience was positive, I lived in Georgetown, University area.
I would definately want to stay clear from the undesirable pockets.Alex
Can you post the final figures once the property has been rented. ThanxWI
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lawsjs wrote:So it seems very strange (read impossible) to have someone who lived in DC be incredulous about plumbing being ripped out and then to mention whitegoods being stolen in Aus…. DC hi cap property means you should be able to mix it Dirty Harry style with the homies:) Alex: Your double negatives make little sense to me. Can you elaborate? Im not sure if you think hi cap can be 'awkward' or if you are saying you disagree and think I'm a fool… I don't care either way so you won't upset me but I understand the Aus property market extremely well, yet am heavily weighted on the US side (and have been for more than a decade) so have a reasonable view of my bit of the US. I have been able to assist in a very small way (again over a number of years) aussies who have been royally (presidentially?
) ripped off so I get a little feedback from around the traps. I am also the first to say that I find the US very difficult to deal with – the cultural differences are great and as far as language goes, often extreme. I work out of an office with a bunch of guys in LA who help me out with this stuff -This time they were confused too! My point was simply this: Hi cap stuff makes me nervous. Especially when quoted by aussies who by their posts have little to no experience in the market. It is very easy to quote numbers but very hard to put them into practice long term. Especially from across the globe – and that IS something I have far more experience in than anyone else I have met or heard of so far… And I spent a decade searching for someone to help me – so I would like to be wrong:) One example is my particular taxation issues have been tabled in Canberra – at my expense – because I am apparently highly unique. I am astounded that is the case and sincerely wished it werent so.Bottom line I am a proud American. I leave will leave it at that. Ignorance is ignorance and can"t change that. If some one buys in a war zone.There is a reason most Americans won't touch those areas. So we see them being sold to investors who just look at cap rate and cash on cash return. Unfortunately you are correct that is happening .At the same time people should treat investing more serious. Taking the time to check things out. I visited several other markets in the USA last year. Again just for my own personal information. This is some thing that all should do but unfortunately people say they are to busy.
Just a side note I was born and raised in long Island New york .Great time growing up as a kid .My father was vice president of Paine Webbber ( one on every floor) we would go into the city as kids with him. I would run around the city checking out the seaport , china town , down town Manhattan . Never had a problem sure there are bad area's every where.That is why it is so important to check out the area you want to invest. Not listen to every knuckle head that gives his opinion.
lawsjs it is good for you to help your fellow aussie at the same time. I am and always will be a proud USA citizen and feel the need to stick up for my country. That not saying we agree with every thing that is happening here .
just my two cents…
Alex Franks
) ripped off so I get a little feedback from around the traps. I am also the first to say that I find the US very difficult to deal with – the cultural differences are great and as far as language goes, often extreme. I work out of an office with a bunch of guys in LA who help me out with this stuff -This time they were confused too! My point was simply this: Hi cap stuff makes me nervous. Especially when quoted by aussies who by their posts have little to no experience in the market. It is very easy to quote numbers but very hard to put them into practice long term. Especially from across the globe – and that IS something I have far more experience in than anyone else I have met or heard of so far… And I spent a decade searching for someone to help me – so I would like to be wrong:) One example is my particular taxation issues have been tabled in Canberra – at my expense – because I am apparently highly unique. I am astounded that is the case and sincerely wished it werent so.You must be logged in to reply to this topic. If you don't have an account, you can register here.
