All Topics / Overseas Deals / Buying property in the US

Viewing 20 posts - 21 through 40 (of 65 total)
  • Profile photo of USInvest-RyanUSInvest-Ryan
    Member
    @usinvest-ryan
    Join Date: 2012
    Post Count: 13

    Blackhotel, you are onto a winner.

    SF has some of the best rental metrics provided you got in prior to its most recent tech boom. Even now, I believe if you invest in the right areas of SF, you are going to do just fine. Buying into a market with such high rental demand and domestic migration via job creation is great, and whilst many owners complain about the rental control laws preventing owners from putting rents up too often, I think that has been key to sustaining its growth thus far. Pacific Heights? Great neighborhood. Had you been investing in the Tenderloin or nearby, I would tell you to think twice right now, not because its a bad area (albeit a little seedy at the best of times) it is gentrifying. The problem is, US Invest knows of 7 new buildings going up right now and word has it a lot of owners are heading for the exit due to an oversupply of new apartment stock. The great thing with where you own is the fact that development is limited, therefore so is supply.

    As a business, we largely deal in the Atlanta and Texas markets, however, if Aussie investors would be a little more open to the higher end of the market, I think there is a world of opportunity investing just as you have.

    Well done!

    -Ryan

    Profile photo of KimberlyKimberly
    Member
    @kimberly
    Join Date: 2010
    Post Count: 44

    Blackhotel, which bank did you borrow from, and how did you manage to do that?

    Profile photo of jayhinrichsjayhinrichs
    Participant
    @jayhinrichs
    Join Date: 2011
    Post Count: 1,177

    Ryan,  I am impressed with your knowledge of "The City"  thats what us Northern Californians call it….The Tenderloin brings back memories of the precursor to Homeless folks we called then  Wino's or Hobo's in the day….                  There is rent control in SF,, Berkely across the bay is well known for rent control.   I would think the SF penninsula is most like AU high end properties… I bought my first house in Palo Alto for 186k in 1984 and sold it in 89 for 450k and thought I was going to retire :) it was only 900 sq ft 3bd 1 bath little rancher… Well my home just sold a few months back for 1.5 mil  now they did add 400 sq ft to it and updated the kitchen…  With HIgh tech jobs from SF to Silicon valley the penninsula only saw modest drops in values in the worse times and has bounced back in the last 2 years… I will be down in the Napa valley next week… I lived there for 10 years in my ever it to be humble opinion Napa Valley is one of the best places to live in the entire US, nice mix of culture, country, wineries and world class dinning. Yet only 45 mintues to the City and the sports and other big venues.

    Profile photo of Dereck1Dereck1
    Member
    @dereck1
    Join Date: 2013
    Post Count: 1

    Do any Australian investers that buy houses in the u.s take Aussie tradesman with them to America … As I am a plasterer and would like to go over there and fix up houses 

    Profile photo of EngeloRumoraEngeloRumora
    Participant
    @engelorumora
    Join Date: 2010
    Post Count: 618

    Hi Dereck1,

    I don't suggest such a move unless you can get a job in a major city with a big contractor.

    The labor is really cheap here with very good plasterers and painters making around $15 per hr

    Thanks.

    EngeloRumora | Ohio Cashflow
    http://ohiocashflow.com/
    Email Me | Phone Me

    F@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST

    Profile photo of jayhinrichsjayhinrichs
    Participant
    @jayhinrichs
    Join Date: 2011
    Post Count: 1,177

    Engelo,  true of East coast.. however if this gentlemen could set up a company and hire Mexican laborers at 10 bucks an hour he could do well.. Subcontrators in this markert do really well if they can scale their business.. One of our plasters  ( I assume this is dry wall) here in oregon has over 400 mexicans working for him and makes boat load of money

    Profile photo of Nigel KibelNigel Kibel
    Participant
    @nigel-kibel
    Join Date: 2005
    Post Count: 1,425

    I think if you are going over to set up your own renovation business you will do well. But if its to work for someone else I would not bother

    Nigel Kibel | Property Know How
    http://propertyknowhow.com.au
    Email Me | Phone Me

    We have just launched a new website join our membership today

    Profile photo of joshua4012joshua4012
    Participant
    @joshua4012
    Join Date: 2013
    Post Count: 3

    Investing in the US can be extremely lucrative but I encourage Australians, or anyone that is attempting to purchase property remotely.  Do you homework!   I will post a topic with some tips in a later post but a $60,000 property generating $600 rent….. I would be interested in the actual location of the property.   There are cities that  offer extremely high returns on cash, but the risk is also higher.   You want to consider your risk tolerance also before deciding on a particular property.   Atlanta offers relatively high ROI but stable growth also.  I like Central Florida also for both the returns and the stability.  The demand for rent in these areas is high also.  In that way your property will never be left vacant, if it is in good condition.   I have been in these markets for years.   Cash flow is the key, it is real and it is NOW.   I have invested in Orlando during market peak and my cashflow never stopped.   I have been making money, even though values decreased.   Look out for SUBSEQUENT POST.   I would like to give everyone a crystal clear picture of the US markets and also provide useful tips that would help you in your decisions when attempting to purchase a USA Investment Property.      Regards, Josh.                                               http://usproperty4less.com/

    Profile photo of EngeloRumoraEngeloRumora
    Participant
    @engelorumora
    Join Date: 2010
    Post Count: 618

    Thanks Jay and I agree with you.

    I thought the gentleman was looking at working for someone and not setting up a business.

    Thanks and have a great day.

    EngeloRumora | Ohio Cashflow
    http://ohiocashflow.com/
    Email Me | Phone Me

    F@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST

    Profile photo of EngeloRumoraEngeloRumora
    Participant
    @engelorumora
    Join Date: 2010
    Post Count: 618

    Thanks Joshua4012.

    Looking forward to your post.

    Have a great day.

    EngeloRumora | Ohio Cashflow
    http://ohiocashflow.com/
    Email Me | Phone Me

    F@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST

    Profile photo of kylermricekylermrice
    Participant
    @kylermrice
    Join Date: 2011
    Post Count: 314

    I would stay well away from Kyler Rice. His way of "helping" me was to place a squatter in a home that I foreclosed on and that was the last I heard of him.  Similarly, Alex Franks from Charlotte, South Carolina.  I lent this guy money and finally had to foreclose on him when he couldn't sell the property.  Not an apology, email or word from him since. Has taken off to NY now.  Probably has a lot of investors chasing him.  The only one I would trust would be Jay Hinrichs whom I have met personally and have a lot of respect for.

    What a joke, this is coming from a guy that got burned by "John Patchin"  David has no real clue as what we has doing as a investor!  I never ever asked for a dime from this guy!  I try to find him a rent to own scenario, and he calls the guy a squatter when the house isn't even rentable.  John took the rehab money and split!  I'm glad i didn't help you out anymore than i had David!  

    Of course your pimping Jay!  Your flogging his stuff to your "mates"

    I'm going to put a lean on your house now!  What an ungrateful punk!

    Profile photo of jayhinrichsjayhinrichs
    Participant
    @jayhinrichs
    Join Date: 2011
    Post Count: 1,177

    Kyler just to set the record straight here.. David  has never referred anyone to me for any reason.  And I do not sell any rental houses to any investors. Other than I sold my interest in TWH and the 350 homes we owned to my ex partner in Oct.  I build new homes and sell them to homeowners and I lend money to US investors short term and I have a 5 year product that I lend to Aussie and other foreigners.

    And I don't need anyone "pimping anything for me"…   I do quite well on my own thank you very much.

    The reality of the situation is this is just another perfect example of investing in Crappy neighborhoods … and with less than capable Turn Key companies.

    As anyone who has ever read anything I have posted here knows I strongly do not recommend these low end rentals for out of area investors… for the above reasons.

    the quality of the people that work in these areas and price ranges and the tenant base just is a nightmare in so many occasions.

    If you live and work in the Hood you can make it work… but thinking your going to buy these low end dogs and make them work from thousands of Kilometers away leads to a lot of heart ache and lost money.

    The reality is people that work these markets last a couple years then move on leaving the investor holding a sub par asset at best.

    I

    Profile photo of EngeloRumoraEngeloRumora
    Participant
    @engelorumora
    Join Date: 2010
    Post Count: 618

    Kyler just to set the record straight here.. David has never referred anyone to me for any reason. And I do not sell any rental houses to any investors. Other than I sold my interest in TWH and the 350 homes we owned to my ex partner in Oct. I build new homes and sell them to homeowners and I lend money to US investors short term and I have a 5 year product that I lend to Aussie and other foreigners.

    And I don’t need anyone “pimping anything for me”… I do quite well on my own thank you very much.

    The reality of the situation is this is just another perfect example of investing in Crappy neighborhoods … and with less than capable Turn Key companies.

    As anyone who has ever read anything I have posted here knows I strongly do not recommend these low end rentals for out of area investors… for the above reasons.

    the quality of the people that work in these areas and price ranges and the tenant base just is a nightmare in so many occasions.

    If you live and work in the Hood you can make it work… but thinking your going to buy these low end dogs and make them work from thousands of Kilometers away leads to a lot of heart ache and lost money.

    The reality is people that work these markets last a couple years then move on leaving the investor holding a sub par asset at best.

    I

    Jay,

    Still need to finish that call??? lollol

    Are you in Hawaii yet? lol

    Just moved to Toledo so you need to stop by when your on your way to NY. Found a great place for lunch to take you haha

    It has a “Don Salieri” feel to it and you think an old mafiaso hitman will pop up at any moment haha

    Thanks and have a great day.

    EngeloRumora | Ohio Cashflow
    http://ohiocashflow.com/
    Email Me | Phone Me

    F@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST

    Profile photo of jayhinrichsjayhinrichs
    Participant
    @jayhinrichs
    Join Date: 2011
    Post Count: 1,177

    Engelo  ,,, I am booked through July and as Toledo is not on the top of my vacation hot spots I will in all likely hood make it there in the fall ( oct Nov when our summer here is done.)  I like Columbus Ohio very much.. I have never been to Toledo.. Although one of the Aircraft brokers that sold one of my airplanes is located there.

     

     

    Profile photo of EngeloRumoraEngeloRumora
    Participant
    @engelorumora
    Join Date: 2010
    Post Count: 618

    Engelo ,,, I am booked through July and as Toledo is not on the top of my vacation hot spots I will in all likely hood make it there in the fall ( oct Nov when our summer here is done.) I like Columbus Ohio very much.. I have never been to Toledo.. Although one of the Aircraft brokers that sold one of my airplanes is located there.

    Done,

    October it is.

    Get the plane serviced while your in town also haha

    We are based in Toledo and Columbus :)

    Thanks and have a great day.

    EngeloRumora | Ohio Cashflow
    http://ohiocashflow.com/
    Email Me | Phone Me

    F@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST

    Profile photo of John CarneyJohn Carney
    Participant
    @americapropertysource
    Join Date: 2010
    Post Count: 15

    My name is John Carney and I’m a real estate investor and developer with 17 years of experience in both Australia and the US.
    Smart real estate investment is a team sport. I believe that everyone has the ability to be a profitable property investor in either country with the right team in place. There is no better time than right now to get started.

    • This reply was modified 10 years, 6 months ago by Profile photo of John Carney John Carney.

    John Carney | America Property Source I johncarneyonline.com
    http://johncarneyonline.com
    Email Me | Phone Me

    Work Hard. Play Hard. Profit Hard.

    Profile photo of jayhinrichsjayhinrichs
    Participant
    @jayhinrichs
    Join Date: 2011
    Post Count: 1,177

    HI John,

    What markets are you in over here in the US… are you selling SFR’s or more sophisticated type investments.

    Agree with you the people on the ground in the US will make or break an investment

    Profile photo of Nigel KibelNigel Kibel
    Participant
    @nigel-kibel
    Join Date: 2005
    Post Count: 1,425

    Currently in Orlando Florida

    Great market here

    Nigel Kibel | Property Know How
    http://propertyknowhow.com.au
    Email Me | Phone Me

    We have just launched a new website join our membership today

    Profile photo of John CarneyJohn Carney
    Participant
    @americapropertysource
    Join Date: 2010
    Post Count: 15

    HI John,

    What markets are you in over here in the US… are you selling SFR’s or more sophisticated type investments.

    Agree with you the people on the ground in the US will make or break an investment

    Hi Jay,

    I work with a group in Phoenix who deliver a great product for foreign buyers. Primarily SFRs. I have a regional bank that’s agreed to work with APS clients so there’s real US bank finance available. The Australians have to travel to be physically sited buy the bank so they also see the houses that they are buying or already own when they visit PHX. We have plenty of cash buyers who never make it to the US but the investors who travel always buy more.

    What do you do?

    Sincerely,

    John

    John Carney | America Property Source I johncarneyonline.com
    http://johncarneyonline.com
    Email Me | Phone Me

    Work Hard. Play Hard. Profit Hard.

    Profile photo of jayhinrichsjayhinrichs
    Participant
    @jayhinrichs
    Join Date: 2011
    Post Count: 1,177

    Great find with getting a local portfolio lender to lend on SFR non owner occ properties… Its been a long time coming.

    For me I do a little non recourse lending in Atl and Orlando, Mainly US IRA buyers and a few Aussie and Malaysians.

    As well as build new homes in the Portland metro area.. However my background is hard money lending in about 11 states to most of the TK operators that are US based over the last 15 years…

    I also put a buy hold equity share Scheme together here in the states and ran that up to 350 homes.. And just recently sold out to my US partner… I am currently liquidating all of my rentals.. I have about 20 left. going ahead and taking profit while there is profit to get.

    However Vis a Vi this site I have really just tried to educate AU investors as to what to look out for in the Mind Field of investing in the US.. As from what I had seen many AU investors just did not realize that our US properties can be in such diverse neighborhoods and I don’t think they fully comprehended what a True Ghetto was or is.. So I just mainly give my 2 cents based on my 35 years in the bizz to who ever will listen.. I like to think I have helped some make the right decisions with US investing.

    I toyed with providing rentals to AU investors but never really got that going… I am more on the debt side of the equation than the equity side… I find that most AU investors do not really have the concept of private lending that abounds here in the states. And that this method of investing for them could be much safer with just as good if not much better returns over time.
    From what I have seen many AU investors got in at the right time with the right folks and many have had just the opposite experience bad actors that they bought from and paid far to much for the property to begin with.

Viewing 20 posts - 21 through 40 (of 65 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.