The markup of some sites in Kansas City sell these type of investment for 45,000K with rents of 800 at 12 months, not going to happen. You can't be an absentee landlord, property management is another added cost for an investor. There are tons of things that can go wrong. There are lots of predators selling junk to people. If i kick a tenant out i can have a new renter in two weeks tops. Most property management people will take months here in the states and will want the first months rent for finding the tenants. just killing the cash flow. i'm could write a book on all the things that can go wrong, but at the end of the day my plan of making it a passive income that pays off quickly is why it works well for me.
I don't know if i could do the same in some place like Detroit or Memphis, they sold chucks of Detroit in auctions for months, it was crazy. I would say that is like a ghost town almost. I really don't hear about people doing well in the two markets i mentioned. Cleveland is another dieing industrial town, i don't know if i could do the same deal there. I have done some deals in Tampa that compare, hopefully i can snag a couple 10,000K condos this year.
Back to NZ prospecting, you should make a TV show , man i love that Alaska gold rush show
yeh i know its men's soap opera , but i still love it .If you only knew how big Alaska it was and that nobody really lives there. Heavy equipment and some land and you would clean up! I would rather do that then pan in NZ, to small. Go big or go home!
kylermrice wrote:Heavy equipment and some land and you would clean up! I would rather do that then pan in NZ, to small. Go big or go home!ROFL…. guys I live in the biggest mine in the world.. it’s called Australia. Alaska’s a bit nippy around the pippy for me.
I would like to get up there and have a look before I turn my toes up though. Definitely on the bucket list.
The Freckle
It's the best bet for gold for a yank like myself.
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