- emma171 wrote:A guy called Demetrius Mathis actually …. if you think Atlanta is drying up… dear heavens…there are 10 times the properties here than there ever were in Vegas…..Vegas is gone…in fact, Vegas was never like Atlanta – it has been "tight" since the day I walked into it by comparison to here…… there are still the rare ones pop up that I will nab but that is one in 3 weeks…luckily everyone is willing to wait for the right one rather than just "any" but still. This is what I sent to my ENTIRE list of people that day… I think you will get the point… he has persisted to contact me – interestingly his website reads "people trust him so much and his amazing team that over 80% of his clients buy site unseen and are from oversees"… I am apparently not focusing on the right thing….. oh and he is willing to cut me in without marking up his property any more (so I really hope this doesn't get deleted for spruiking) As I am quoting him directly I will also state that should anyone be interested in pursuing an amazing deal like this, I will happily pass on his details… but quick, rush because there is a HUGE demand or something…. Dear All I have received contact from a company selling properties in another state. I will repeat verbatim my response to him…. I will not elaborate. I will STRONGLY recommend that if you are looking elsewhere that you INSIST upon knowing what the company paid for the property and justify in your own head any mark-ups. QUOTE Demetrius Fantastic – thanks for the below.. Okay. I am about to send this verbatim out to my email list. I just want to make sure I get this absolutely accurate: A house that was bought at auction for 24k on July 5 can be bought through you for $57k… Except that we have to rush because they move so quickly…. Probably this example property has been sold already…..although it has sat since July. This is a property that you are asking $20,000 more for than any recent sale within a half mile. I will pose it to my clients and let them decide. As they all use zillow, trulia, redfin and other such websites, if they do choose to pay you literally more than the house cost in commission (27k in repairs/commission for a house that cost 24k) and to pay 20,000 DOLLARS more than EVERY recent sale within 1/2 mile then that is up to them – I am more than happy for them to have choice in this market and will simply outline the services you offer. With enormous thanks…. UNQUOTE Normally I "rip" these to shreds but the only thing I couldn't fault was the yield – which was a first…… "where next" is the question most of my clients and I discuss weekly! As I always say, you just never know "where" next…
Demetrius is amazing he was the first contact I made in 2003 and decided to make hard money loans to him or his clients. He did not personally qualify so he would hook up with Radio stations in LA and other marketing companies he was ahead of his time on internet marketing. And he has that Ole shucks kind of personallity… We would do 20 or so for his clients and they would go oK then the next 5 the rehab was pathetic. and I would cut him off. Then I did a home I would normally not do as a flip lost 30k
And his clients were screaming like banshi's the rehabs were so poor. This was Jackson MS. he was basically run out of town and went to Atlanta… I did 6 deals there for his clients and 5 ended up forelcosing on because it was right at the start of the price melt down. THen Big D went dark…. And you all know I can right some drunken tirades I gave him a piece of my mind one night and that was the last of him…He then surfaced looking for money a year ago and I would not even return his e mail..This case seem pretty clear clients wired in 25k he kept and spent it…. He lives in a big house drives the nice trucks and Mercedes kids in priate schools etc… Just would close deals get his money and hope they worked was basically his SOPS
He has done hundreds of deals so we may get called on this one.. they tend to dig as far back as they can find records. And Big D was very computer literate so there is probably a bunch on his drives.
Jay that is literally hysterical… He had gall… He went on to outline how great his renos were ….And quoted me work that could not have been over 8k as being 20k….I asked him for an itemized listing… It was fun baiting for a while and I do love the game of it but a some point it is just so wrong and dangerous.
Alex, you mentioned about people in Oz buying the secrets and paying to learn the “system” etc and how that wouldn’t happen in the reverse… What you have to remember is that in Australia we don’t have zillow, Trulia or Redfin…. You pay for RP data …. So the mindset is almost bewilderment when you first learn these little tools… It is like heaven…. And those charging you will NEVER reveal their names…. Good grief. We invest in Oz without any of these tools. It may be flawed but when I first started saying at bare minimum use zillow (and yes it sounds a very silly name), I had to physically show people how to use it…. These were property people with multitude of investment properties in Australia.
People pay in Oz because there just isn’t the freedom of information. I have taken it as a personal need to make sure that if every person on this site tells just 4 others, the scammers will rapidly realize that their days are numbered….
Everyone needs to know that they CAN see what else is available on the market, they CAN make the decision to buy or not based on the variables. If you KNOW that that information is NOT available to you without paying for it in your own country, and no one is telling you otherwise the
“hush hush, I will let you in on a big secret about how to learn the US market…..buy my system for just 6k and you too can learn these secrets” sounds very appealing….. Why? BECAUSE YOU DON’T WANT TO GET RIPPED OFF… You want to do due diigence, you just haven’t a clue how to get it otherwise…
I met 2 people who had literally done crash courses amounting to over (LMAO) the price of a property “studying” how to invest in the
US…. And these are people who have collectively 12 properties in Australia and neither of them had even been told about Zillow or Trulia or Redfin!Easiest thing to sell on the planet is fear….. I don’t care if people buy or not but dear Heavens let’s give them the tools to decide without them being ripped off……
But for the fact that you can’t do it without tit sounding like a sales pitch I want to do the anti seminar… How not to get ripped off in the US… Except that EVERYONE says that just to do precisely the reverse,….
Buy my uber expensive system on how not to get ripped off?? read these posts for free and don’t get ripped off. Period/Full Stop. Keep reading… Then please tell anyone interested in the US market what you have learned….it isn’t often you get a chance to help people from being ripped off but this might in a big way.
emma171 wrote:A guy called Demetrius Mathis actually …. if you think Atlanta is drying up… dear heavens…there are 10 times the properties here than there ever were in Vegas…..Vegas is gone…in fact, Vegas was never like Atlanta – it has been "tight" since the day I walked into it by comparison to here…… there are still the rare ones pop up that I will nab but that is one in 3 weeks…luckily everyone is willing to wait for the right one rather than just "any" but still. This is what I sent to my ENTIRE list of people that day… I think you will get the point… he has persisted to contact me – interestingly his website reads "people trust him so much and his amazing team that over 80% of his clients buy site unseen and are from oversees"… I am apparently not focusing on the right thing….. oh and he is willing to cut me in without marking up his property any more (so I really hope this doesn't get deleted for spruiking) As I am quoting him directly I will also state that should anyone be interested in pursuing an amazing deal like this, I will happily pass on his details… but quick, rush because there is a HUGE demand or something…. Dear All I have received contact from a company selling properties in another state. I will repeat verbatim my response to him…. I will not elaborate. I will STRONGLY recommend that if you are looking elsewhere that you INSIST upon knowing what the company paid for the property and justify in your own head any mark-ups. QUOTE Demetrius Fantastic – thanks for the below.. Okay. I am about to send this verbatim out to my email list. I just want to make sure I get this absolutely accurate: A house that was bought at auction for 24k on July 5 can be bought through you for $57k… Except that we have to rush because they move so quickly…. Probably this example property has been sold already…..although it has sat since July. This is a property that you are asking $20,000 more for than any recent sale within a half mile. I will pose it to my clients and let them decide. As they all use zillow, trulia, redfin and other such websites, if they do choose to pay you literally more than the house cost in commission (27k in repairs/commission for a house that cost 24k) and to pay 20,000 DOLLARS more than EVERY recent sale within 1/2 mile then that is up to them – I am more than happy for them to have choice in this market and will simply outline the services you offer. With enormous thanks…. UNQUOTE Normally I "rip" these to shreds but the only thing I couldn't fault was the yield – which was a first…… "where next" is the question most of my clients and I discuss weekly! As I always say, you just never know "where" next…LOL it is such a small world. Funny how are this guys name is coming up. LOL
As for Atlanta not leaving because it is a bad market. To much competition for me so properties being bid up to high for my liking. Charlotte is my back yard,So yes was getting greedy by being in Atlanta. To be honest if you know and understand real estate.You can be in any of the USA markets and set up shop. For me being in Charlotte , where I call home .Just makes more sense. Let me know if you are close some time. Charlotte is 38 minute flight from Atlanta. Come up and see us.
Cold , so cold again today.Cant wait for april. Talk soon
Alex
I would have to say cashflow only – build on capital gains and you're better off at the casino – world economy is in turmoil, if you haven't noticed, and if anyone thinks the 7-10 year cycles are still valid or are any sort of benchmark to go by as far as capital gains are concerned, I'd say they're hallucinating (or selling properties with little cashflow
)(Alex – love your posts, you know your stuff. If Japan dries up for me, I know where to go for my US properties
)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
Been touting that for a while, CASH IS KING
emma171 wrote:If you KNOW that that information is NOT available to you without paying for it in your own country, and no one is telling you otherwise the "hush hush, I will let you in on a big secret about how to learn the US market…..buy my system for just 6k and you too can learn these secrets" sounds very appealing….. Why? BECAUSE YOU DON'T WANT TO GET RIPPED OFF… You want to do due diigence, you just haven't a clue how to get it otherwise… I met 2 people who had literally done crash courses amounting to over (LMAO) the price of a property "studying" how to invest in the US…. And these are people who have collectively 12 properties in Australia and neither of them had even been told about Zillow or Trulia or Redfin! Easiest thing to sell on the planet is fear….. I don't care if people buy or not but dear Heavens let's give them the tools to decide without them being ripped off……Emma,
You raise a very good point and I had never thought of it that way. I was always confused & questioned why people pay fee's for memberships etc to buy in the US but the way you put it…of course it makes sense…they feel they are getting some sort of protection and let in on a big secret…guess it's a safety in numbers attitude !! plus as you point out…in OZ we don't have the same free information around like they have in the US
From a Texas perspective and the fact we are a non disclosure state….sites such as zillow, trulia & redfin are not reliable and if you dig into their website disclosures it tells you so with Texas and 10 other non disclosure states. They cannot list a sale price when it was sold…it can only tell you the last list price (part of non disclosure)but that's a start… plus it has all sorts of interesting facts & figures anyway to at least give you some idea. At least you can have a look at comparables,taxes etc.
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