USA properties.

I purchased a nice house in Florida earlier this year (settled in March). Compared with my IP in Sydney, the US properties do have much better return. And potentially good CG too.

I don't believe in buying very cheap properties and rent them out, chances are they are in slump suburbs. Flipping could be a very good business there, but I don't have the time and energy for it. I only look for the properties in good suburbs, have good employment centers around, and buy at a discounts (margin of safety).

Will look for another one once the Aussie is above US$0.90

Tax Deeds

What about tax deed sales ? I have heard that you can purchase properties on line through auctions DD is required but they are listed in advance , we are setting up a LLC and american bank account and going there to see what it is all about , hope to buy and flip
Will let you know how it goes .

Hi Nanga Mai,

I noticed that the AU$ has gone over 90US cents. Just curious as to whether you are still looking at buying again?

I am heading over to San Francisco in about 6 weeks and am doing some research at the moment on US property.

Good luck.

Benn

Benn said:

I noticed that the AU$ has gone over 90US cents. Just curious ......

Click to expand...

Why would you convert good aussie dollars into clappy US$s at any price? I don't KNOW that the Yankie dollar is about to collapse but I sure as hell ain't gonna bet my hard earned that it ain't. LOL

My personal Take on US property

For anyone interested in US property, my personal take on the whole situation is that there are opportunities everywhere in the world. The US market is just as any other market but with the added bonus in the form of cheaper properties now available, growing rental market and also the convenient laws regarding overseas investors.

I have personally spent a few years over there and actually started a property company with my parents buying, renovating and renting properties before the downturn. Due to my personal finances at the time i wasn't able to keep up financially in the beginning stages and went back to the J.O.B scenario for a while. Big mistake as my father now has build the company to over 80 personally owned properties all returning at least 15% NET per annum in renta alone after costs, a growing property managment company with over 350 properties under management and now also a maintenance company so he can do all renovations and maintenance in house.

I have just recently placed myself with the family business again by creating and managing relationships between my father and sales companies to bring some of his stock to Australian investors (our whole family originally from Sydney).

I would be buying up as many as i could knowing that i have someone over there i can trust on the ground if i had cash right now knowing that cashflow is king and at the moment the US property market is prime for stable rental returns of 15%-20% NET.

Where depends on your POV.

For example.

I met a guy years ago - big developer/investor on the GC who said the biggest mistake he ever made was straying out of his backyard. He knew the GC very well but when he went to WA he wasnt as good.

I just got back for about 2 weeks in South Florida and left there with offers pending on two properties (one fell over as it was too low and the other is pending). Heaps of stuff on the market and if you've got the cash you might do pretty well out of it. If you had the time and research available you'd be attending the foreclosure sales and living in the US for about 2 months and you'd pick something up.

Where I was the court was doing 2 auctions a week at about 20 properties a day.

And that was just one little county

even the locals are only getting 15% - where are the Dymphna Boholt 30%+ yielding properties....?

Aaron Sice said:

even the locals are only getting 15% - where are the Dymphna Boholt 30%+ yielding properties....?

Click to expand...

I think Dymphna is quoting properties in places like Detroit where you can still buy 3/2 houses at as low as $1,500 but the problem is with them is that you really need to be careful where they are cause Detroit is actually ripping down 1/3 of it's housing. look in up on google.

Properties can be returning 30% but most of the time that is before all costs and that involved being on the ground and spending months doing renovations and all that kind of work. Not only that but some of the houses she is quoting are Ghetto areas and they can possibly return you 30% but they can also just as well be destroyed by your tenants. Who wants to earn 10K a year off a property just to have to do 6K a year fixing up the tenants mess?

I would personally just have someone on the ground who can give me turn key properties so i know when i buy that there is a tenant, property management and the house is renovated. I personally never like to wait for my profit haha, maybe i'm just impatient.

Don't.

And you might want to take a look at this.
http://www.jenman.com.au/news_alert.php?id=109

Hi,

Have read recently that people who've had the bank take on their property are walking a few houses down the street & purchasing one for what they'd pay in rent. This lets me to believe, who will rent when they can now buy for the same they could rent for?

Interesting article in API last month...lots of looters ransacking these properties while they're vacant for copper piping/dishwashers/anything they can lay their hands on.

IMHO I'd rather invest where I know the market & where that market has somewhat more stability than the states at the moment

hi all
have a read of the miami post and come back
there is so many posts on the us properties and it seems like alot are from investors that are not sure how or why to invest

Amadio said:

And you might want to take a look at this.
http://www.jenman.com.au/news_alert.php?id=109

Click to expand...

i was just going to put this up.

it's a farce. i wouldn't trust any of them

pay $2000. fly to the US.

spend $2000 on food and accom while there for a month.

spend $500 on car rental and source the deals yourself.

still cheaper than a seminar.

2 sides to every equation - must be money in selling these houses by the sounds of it

plenty on ebay.com....

I looked into Detroit awhile ago and have noticed an increase of spruikers

still have not bought there and not planning on buying anytime soon