- jayhinrichs wrote:Laws, I had a nice chat with Emma last week when I was in Vegas, lots of energy that one and very keen on what to do and not do in the us market….. I have only done business with the wealth managrs for a doctors group out of Perth, our clients in the us are very risk adverse, so they do not want to deal with rental management they are fine with a 8 or 9 cap because they know there WIll not br any bad days.. Wishful thinking , I am hoping to Keep 100 in next 5 to 7 years. I am hoping with proper planning things will work fine ( after sitting with you I see alot of gaps in our system. So like any body else I am always ears open and willing to listen. From the rehab to the actual break down of rental income. So for me growing to fast or buying to many deals will always increase the risk factor. I am just comfortable in my own shoes and don't need to be the biggest or the best.I am looking for a better quality of life over the stress of managing multiple teams. Hell it is hard enough here some times could not imagine another a few markets. Learned my lesson in Atlanta trying to do two markets at the same time
I am currently in Indianapolis and will be opening this market with one of my old Silverdo clients. Like Alex…they have 600 units under management and are looking to add the TWH model…. That is awesome good for you. I like the fact that most west coast companies shoot and put as many teams as possible under them. Long ago that was Kevin'S and JP ( peak boys ) Idea grab teams in all the southern markets and Dallas. For me staying in just Charlotte and keeping things lower key 20 -25 houses. I see this will take 30 to 60 days. I know my appetite for stress is less and not wanting to travel for ever. So making the international partners now to build my foundation and relationships for years to come. Our company wants to diversify and go into development along with commercial. For the rental properties I like the Dallas guys (Tom Wilson ) approach with nicer properties $120 to $145k k and over. We are in test mode seems to be preferred homes in most markets . The product ( homes )newer houses built after 2000 and at least 2000 sq ft or more . Looking at the Charlotte to Dallas rental markets those same house in our market will take in $1600 – 1900 a month. Seeing his properties rent $1275 – 1495.00 . So I am thinking that is the nest step for us.Off to Memphis tomorrow opening that market as well.. Next will be Dallas as long as we can make it work because of prop taxes……..one of the court house steps players in Vegas has sought us out as well, I just spent 3 days there…. so Alex that's 2 weeks on the road visiting my partners in ATL,bham,Jackson, Memphis,Indy, All great markets spoke with Chris from Memphis at great lengths this past weekend. Again maybe I am just very simple, but I see Charlotte as a market where I want to be Just buying and selling a % of homes while keeping the others. I think if Kevin was here on this Forum he would be looking at 200 houses every few months. What I found is my company and thought process is not for every one. The way I see things might not work for all.
With you being over so many markets that is awesome and sure you will do well. Two weeks on the road I can't stand to be away from home that long. Miss my wife and dogs to much , besides nothing like living in the sticks. Peace and quiet and simple life but yet close to the world if needed. I see you as the guy who has done this many time over so running multiple teams is awesome and well done. I see me as one of the younger guns in this game.So my thought process is make what we do in Charlotte great. I will still buy for myself in markets like Atlanta < Dallas( very interesting market) and Florida (love it their) just not sell in those areas. Besides what most people don't realize is every market I just mentioned can be different but yet the same. Numbers and a solid system in place is the key to make any real estate market truly work. From the Hoods to highrises it still real estate.
Then home….on the 17 th we head to ny I am speaking on front of the Iafc convention only re product. Peesonally invited from the chairman. Again awesome to hear . NY being born and raised their, I am and will always be a true NY person ( just sound southern)Those dates we are heading to Malaysia to speak 17-19 then Singapore the for 3 days. This time Kevin is going for the trip .I will make sure to spend some time playing tourist this time around .…
kylermrice wrote:STAY AWAY FROM MEMPHIS!!!!!!!Kyler
I have to Disagree I see alot of rental markets in the USA . Who is to say which market is better then another. I feel once you understand real estate and apply a certain system . I believe you can do it in most USA markets minus west Coast and NY possible NJ. Prices tend to be higher in those markets.
The last few years have been filled for demand in rental properties from USA and International buyers alike. I have been traveling the USA with the same faces for last few years .. ( Jay is one of those same faces) , Same team from Memphis and (Alabama Mother and Son team)and Now I see the Dallas guy there as well .
So realistically you can do what you do in Kansas City in most markets. Every City in the USA has it hoods and has it pristine real estate market . Once you under stand real estate and man I am still learning . After you get to that point and make it a system and apply it over and over it works . For now Rentals = cash flow + compounded over time is real wealth. Not telling you any thing you don't already know.
Guess my point is there are lots of awesome markets in the USA Look at the people Like Jay , Real wealth Net work ,360 investments , 411 magazine out of California. The reason I mention all these names because they are all from the west coast but yet working in multiple USA markets. Again a point to make when some are in your market and some are not. They all work it just depends on the investors choice. I do see a trend for the USA investor jumping back in going for the higher end property. I think huge lesson was learned last time by the USA investors. That the lower end homes not saying it does not work but their is a reason most in that market either lost or was completely burned. Kyler , Engelo I am not knocking the low end deals. Heck I just purchased the 67 properties in Rock Hill SC .Which is rare to buy bulk for most not the norm . This package was two and half years work with alot of negotiating. This is lower end I even budgeted in off duty police offers for security . I am willing to take the risk because I know the area it is five minutes from my office. This is almost all vacant but not a war zone just lower neighborhood.
So because of that with the NC Charlotte market we are going to go up to another price range for properties. We are figuring that it will affect the numbers of properties we buy .Again this is a test for us these are the properties we want to hold. Built 2000 and above and 2000 sqft shooting for 4 bed 3 bath or larger.
So alot of of chit chat just to say , man do not knock any markets here in the USA they all have good and bad areas. What we have to do is educated on why you would or not buy in these markets. Maybe I am being a proud USA guy but we have alot to offer both the USA and International clients. Education them and showing why things work and don't work should be the mission . Oh and Just had the KC guys here for a few days( Peak funding) it is expensive but they seemed to have jump back in with interest in Charlotte NC .. LOL alot of the west coast guys knocking on the door here.
Talk soon
Alex, I don't think you or Jay stuck to the subject of the thread and with me saying stay away from the Memphis COMPANY!!! I don't always have time to write long reply's like you and Jay. I was just trying to back up Jeremy.
I could re post, but already did it for Jay.
Who is to say which market is better then another.
I didn't say anything other than one thing about the subject and i get a tyrade, lol. Come on man.
If you think you can do it in most markets, that's your opinion. I wouldn't touch Memphis, any Ohio city, St. Louis, Detroit, DC, or Baltimore. That's my opinion. Not all ghettos are the same, I'd like to hear a success story from East St. Louis, Detroit, not hearing much good stories from there for a reason. If a city is dieing or the area is just that crime ridden it isn't going to work. Why would you invest in Ohio when it was industrial driven and those jobs aren't coming back.
If i could be doing what i do in Kansas City in other markets i would be, but the grass isn't always greener on the other side. I prefer to just stay here and water my grass. I am in two markets for a reason, I'm picky. Why would i go to Atlanta to pickup something i could get in Kansas City for cheaper and that was worth more before the GFC.
man do not knock any markets here in the USA they all have good and bad areas.
Lol, really… From that one statement i was knocking
I stick by my guns and Memphis is a crappy town, you guys can have it.
kylermrice wrote:Alex, I don't think you or Jay stuck to the subject of the thread and with me saying stay away from the Memphis COMPANY!!! I don't always have time to write long reply's like you and Jay. I was just trying to back up Jeremy.I could re post, but already did it for Jay.
Who is to say which market is better then another.
I didn't say anything other than one thing about the subject and i get a tyrade, lol. Come on man.
If you think you can do it in most markets, that's your opinion. I wouldn't touch Memphis, any Ohio city, St. Louis, Detroit, DC, or Baltimore. That's my opinion. Not all ghettos are the same, I'd like to hear a success story from East St. Louis, Detroit, not hearing much good stories from there for a reason. If a city is dieing or the area is just that crime ridden it isn't going to work. Why would you invest in Ohio when it was industrial driven and those jobs aren't coming back.
If i could be doing what i do in Kansas City in other markets i would be, but the grass isn't always greener on the other side. I prefer to just stay here and water my grass. I am in two markets for a reason, I'm picky. Why would i go to Atlanta to pickup something i could get in Kansas City for cheaper and that was worth more before the GFC.
man do not knock any markets here in the USA they all have good and bad areas.
Lol, really… From that one statement i was knocking
I stick by my guns and Memphis is a crappy town, you guys can have it.
Do not be so sensitive, just a moment of clarity on my part. To have a rare quite sat morning at the house with a hot cup of coffee.
Kyler I agree with you 100% on thne markets you mentioned… Our Memphis team buys props that are 2 to 3 times removed from the hood…
Hi Lawsjs,
Yeah I get your point. Did you buy from anyone mentioned? What was your experience?
Engelo
lawsjs wrote:engelo10 wrote:I love it how everyone with products posts when a newbie needs some advice. I love this forum man hahahaha
Engelo10: it might look a bit daunting with US property guys 'all' selling things (speedy and I certainly do not) , but look at it this way: None of the guys posting here (Emma-the honorary guy, Jay, Alex, TxCC, Ziv, Kyler etc) would care if you or anyone else bought through any one of them. Sure they are letting you know they are 'there' but with so many eyes watching, a rorter would last 10 seconds. In fact Kyler proved it by posting a request he had received to deal with a certain Aussie company he was suspicious about. He made a post asking what people thought and one of the guys 'selling' immediately commented that Kyler was correct to be concerned and to keep away. Kyler had no reason to question – he would have made money, but he did the absolute right thing and didn't tarnish his good name by dealing with a 'bad' company. From that point of view these people posting and 'selling' things are creating a very safe and legitimate environment. From my perspective I would recommend any and all of these guys for anyone to learn from/buy through. A 'shonk' would be outed and embarrassed in an instant – the pool of knowledge on this forum is immense. I am aware there has been some correspondence to Gavin (of 730 fame) from the lovely Andrew Allen of MyUSA that Andrew has not had a chance to put his side of the story across. 730 said to me they tried multiple times to get in contact, but maybe they are lying. What better place to argue Andrew's case than on a site like this – with his peers who 'sell' who would surely understand the difficulties Andrew faced dealing with Gavin? We know (or I do) that MyUSA keeps a very close eye on what is written here, so one would expect a defensive comment somewhere here would you not? Get the point? These guys posting here are real professionals and keep each other VERY honest. Keep it up I say.
EngeloRumora | Ohio Cashflow
http://ohiocashflow.com/
Email Me | Phone MeF@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST
I was wild and crazy and about 15 years ago went to LA to buy US property, made about 1000 phone calls in the space of 3 weeks and finally found a broker who helped me. I have now bought about $10m worth and wouldn’t buy through any one of the numerous Australian LLC pedlars that have sprung out of the same trough that used to provide the worlds snake oil salesmen.
Only $10m haha jksss. Well done, sounds like you have a nice portfolio.
Did your porftolio loose value during the downturn?
Engelo
EngeloRumora | Ohio Cashflow
http://ohiocashflow.com/
Email Me | Phone MeF@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST
No – it actually increased in value. More tenants = increased rents = higher valuation = happy days…
I sold my worst building for a profit (small) at the absolute bottom of the market.It doesn’t take much to build up a portfolio once you start. It probably sounds a lot to begin with, but would be nothing compared to Jay, Alex etc… Just build up one at time.
Ok cool,
You should start selling like the others. Im sure you would have great contacts there and could offer great product to investors.
Engelo
EngeloRumora | Ohio Cashflow
http://ohiocashflow.com/
Email Me | Phone MeF@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST
I have been privately ‘spruiking’ US property to my friends for 10+ years. They weren’t interested, now they want ‘bargains’ and have almost all bought through Emma but no one has even bothered to contact my broker in LA (Marty Stone). I use $100k to buy an $800k building, most seem to prefer to buy 2 $50k foreclosures for $100k.
It isn’t easy dealing in the US or with the US, but it ticks along nicely and has massively outperformed my appalling superannuation.
Hi lawsjs,
Interested in contacting Marty Stone. Looking to buy with a timeframe of September this year.
Please can I have his contact details.Kind regards,
Orrinlawsjs wrote:ticks along nicely and has massively outperformed my appalling superannuation.Supers…ugh…don’t get me started :p
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
Hi guys .
Take a look at my comments if you are interested to invest in the US.
https://www.propertyinvesting.com/forums/property-investing/overseas-deals/4344313
I sold my worst building for a profit (small) at the absolute bottom of the market.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
