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Sam, A few answers to your questions. How much is the facilitation fee. I charge $4500 per property and facilitate the end to end service. What are, if any, ownership rules for foreigners. Foreigners can purchase property in the USA. I have been purchasing through an LLC (Limited Liability...

Edmond, Good question, why aren´t American´s buying? It all comes down to finance, the lending market has tightened since the GFC and all those people that lost their homes through foreclosure have ruined their credit rating so cannot get finance, they have no option but to become renters or...

Oscar, I agree with you. I think that in 10 years time anyone that was brave enough to invest in the US and got it right in terms of price and location will make some significant profits. I don´t have a crystal ball but to me this is one of the most exciting investment opportunities I have...

Dazz, I believe Steve McNight invested in Buffalo/Rochester area before the GFC when quiggles was posting on the US. He wisely got out before the GFC but has been buying up lower end properties in Florida over the last year. (10-20k properties) These are not good neighbourhoods according to...

The last year has been really exciting in terms of my investing. Since 2007 I have found little opportunity in the Australian housing market and have focused my attention to the USA. Over the last 18 months I have been buying cashflow positive properties in Atlanta Georgia. I have just come...

Its been over a year since I have provided an update on my post. Its been a significant year for me 2010 both in my personal and financial life. My father passed away last month after a long illness of heart disease and kidney failure. Its something I was prepared for as I could see my...

In answer to some of the questions How often do I get stressed. That's a great question. It varies, everyday issues tend not to stress me too much, by that I mean vacancy , tenants moving out, repairs , late payers. I guess its becuase I have a plan in place to deal with them. By having...

Fokas, I sold the tassie place for 140k after 1 year, spent around 8k in renovations and rented at 160 a week while I was holding it so not a huge profit but not too bad.

Hi Roopam, I am glad you enjoyed my story. There are many inspirational story's on this forum. Have a read of the interviews section on this forum. You are sure to be inspired by some of these stories. Here is the link http://www.somersoft.com/forums/forumdisplay.php?f=4 you may...

Hi Kp, Yes I have kept most of my geraldton properties as I think we will see further growth in Geralton in years to come with Oakajee looking like its going ahead and other projects on the go. I sold a few properties that didn't attract the right type of tenants but kept all the better...

Hi Angela, I assume you are talking about John Fitzgerald ,author of 7 steps to wealth. I attended his seminar back in 2000 and it gave me some valuable information about realestate investing in general and building up a portfolio over time using the equity from one property to buy the next...

Hi Alia, How did I finance initial properties? I had a small deposit and went direct to the bank to finance my first 3 properties. I didn't shop around for finance. It may be worthwhile using a broker if you are starting out. There are some good one's on this site. Yes I have always worked...

I thought I would post an update on that 63k cheapie I purchased in geraldton in 2004, the one the agent told me not to buy....... "One night whilst searching for deals on the web I came across a house for 63k in geraldton WA (brick and tile, about 20 years old fully renovated) I rang the...

Hi Redwing, How time flies! I have had a good year luckily. The WA market has exceeded all of my expectations. Those 60,70,80k properties in geraldton have jumped again and are now around the 200k mark although valuers are struggling to value up to contract prices in geraldton at the...

Spiderman is right. There are good yields available in kalgoorlie, it´s not that hard to get a good return. I would not buy lots of property in Kal because its a mining town but I thought no harm in buying one and see how it goes. The valuation that the bank organised had some positive comments...

Dayanand, The duplex is in Westcourt OSS, Sorry mate I just can't pass up a bargain. Had it under offer within a matter of hours of seeing it on the internet. Congrats on your purchase. Can I ask what did you buy / how much? Also what is the grogan street property like. I havn't seen it...

Hi Jen, Buying in an area that you have not visited has certain challenges but I think with all the information available today it certainly can be done. A really good way to get a feel for an area is to speak to property managers. I speak to the property manager of the agent selling me...

The median price paid for each of your properties. For example Jesse's properties were <50K each (if memory serves me correctly). 2000 COASTALSYD $272,500 2000 COASTAL QLD $107,500 2000 COASTAL QLD $108,000 (sold 2004- 283,500) 2002 COASTAL QLD $145,000 2002 COASTAL QLD $167,500...

Where do you start, that is a great question. I originally started looking at areas (redcliffe, redland bay etc) and specifically set out to buy properties in those areas because they were bayside locations of brisbane however as the market changed and prices went up those properties no...

Nobleone, I didn't set out looking for x-dept of housing properties. I just came across a listing on real estate.com that was not advertised as such but represented good value. After I bought it I kept in contact with the agent and bought more of them as they came up. Same with the tassie...