Thnks for the link Bianca a great read, congratulations on the achievements to date, I enjoy reading the stories from various investors (beats watching tv) in the forum and would be a favourite part of the investing mags.
23 properties in 5 years
- Thread starter karina
- Start date
Thnks for the link Bianca a great read, congratulations on the achievements to date, I enjoy reading the stories from various investors (beats watching tv) in the forum and would be a favourite part of the investing mags.
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 fathers health deteriorating and all the doctors had warned me of what was ahead but somehow you are just never ready to lose someone you love so much. Fortunatly I took the last year off work and was able to help my father through his illness. I am grateful for the time I was able to spend with him and the fact that I did not have to work during that period so I could dedicate the time I needed to be with him. I miss him dearly.
This last year from an investing point of view has been an exciting one for me. I like most other people I suppose felt the fear during the GFC in that I didn´t know what was ahead and how it would affect Australia. I must say it was probably the first time I have understood the risk involved in investments as up until the GFC house prices as far as I knew in my limited 10 year investing experience only ever went up.
It also opened up new and exciting opportunities. I decided to improve cashflow and sold down a few properties in the last year but also took the plunge and went into global markets, the USA!
My initial interest in buying property in the USA started when I went to see Kiyosaki in 2009. I have always been a huge fan of Robert Kiyosaki and credit his book “rich dad , poor dad” to getting me on the path to success. An absolute thrill of mine was to meet Robert Kiyosaki at the seminar , speak to him and get an autographed copy of his book..
Getting into the US market however was not the easiest of paths to pursue as not many Australians have done this successfully at this time and there was no clear path of how to do it. After much research however I decided to have a go and I am now officially a global property investor having purchased a few investments in the US.
I was dumbfounded to learn that I could buy houses at 1979 prices today and get rents on 40-70k houses of 900 – 1100 per month.
I recall my father telling me how my US investing would be the start of great things for me and I am grateful that he was able to share this experience with me before he passed away. He was always my greatest source of encouragement. Made me feel like I could achieve anything I wanted to.
For those of you that are smokers I would like to post a warning. I know this is a property forum but if I could just get through to one of you it would be worthwhile me typing this message. From the age of 8 years old I have seen the effects that smoking had on my fathers life. It robbed him of his health , his quality of life and ultimately his life and time with his family.. Please consider your families and give up smoking.
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 fathers health deteriorating and all the doctors had warned me of what was ahead but somehow you are just never ready to lose someone you love so much. Fortunatly I took the last year off work and was able to help my father through his illness. I am grateful for the time I was able to spend with him and the fact that I did not have to work during that period so I could dedicate the time I needed to be with him. I miss him dearly.
This last year from an investing point of view has been an exciting one for me. I like most other people I suppose felt the fear during the GFC in that I didn´t know what was ahead and how it would affect Australia. I must say it was probably the first time I have understood the risk involved in investments as up until the GFC house prices as far as I knew in my limited 10 year investing experience only ever went up.
It also opened up new and exciting opportunities. I decided to improve cashflow and sold down a few properties in the last year but also took the plunge and went into global markets, the USA!
My initial interest in buying property in the USA started when I went to see Kiyosaki in 2009. I have always been a huge fan of Robert Kiyosaki and credit his book “rich dad , poor dad” to getting me on the path to success. An absolute thrill of mine was to meet Robert Kiyosaki at the seminar , speak to him and get an autographed copy of his book..
Getting into the US market however was not the easiest of paths to pursue as not many Australians have done this successfully at this time and there was no clear path of how to do it. After much research however I decided to have a go and I am now officially a global property investor having purchased a few investments in the US.
I was dumbfounded to learn that I could buy houses at 1979 prices today and get rents on 40-70k houses of 900 – 1100 per month.
I recall my father telling me how my US investing would be the start of great things for me and I am grateful that he was able to share this experience with me before he passed away. He was always my greatest source of encouragement. Made me feel like I could achieve anything I wanted to.
For those of you that are smokers I would like to post a warning. I know this is a property forum but if I could just get through to one of you it would be worthwhile me typing this message. From the age of 8 years old I have seen the effects that smoking had on my fathers life. It robbed him of his health , his quality of life and ultimately his life and time with his family.. Please consider your families and give up smoking.
Welcome back Karina !
In that heartfelt appeal there lies a secret that most of us wont see until our time is near gone.......and Im grateful that I was shown it earlier in my life by one of my business mentors.
You can always make more money, but you can never get the time back
Thanks
Rolf
Hi Karina
Welcome back indeed!
My deepest sympathies on the passing of your father.
I have to agree with Ralph...that Wealth and Health are intertwined.
Welcome back indeed!
My deepest sympathies on the passing of your father.
I have to agree with Ralph...that Wealth and Health are intertwined.
Live every day
Hi Karina,
thanks for posting of your recent victories in the US and for sharing the sorrows of the passing of your father. Very touching words and warnings indeed.
In Greek we say "zoe seh sas" which translates to "life to you all".....I am aware that in other customs/faiths, there are similar "long life" salutations. Look after the living is an apt axiom to adopt, no matter how hard it may seem.
Some four years ago I also experienced a similar passing of my father who is now at peace from what was a very aggressive form of leukaemia. Days later I came across a wristband at a Priceline checkout that I purchased in favour of the Leukaemia Foundation. The message it had was Live Every Day. Three words I now adopt as a motto.
Sorry for your loss of your dad, may his memory be eternal.
Hi Karina,
thanks for posting of your recent victories in the US and for sharing the sorrows of the passing of your father. Very touching words and warnings indeed.
In Greek we say "zoe seh sas" which translates to "life to you all".....I am aware that in other customs/faiths, there are similar "long life" salutations. Look after the living is an apt axiom to adopt, no matter how hard it may seem.
Some four years ago I also experienced a similar passing of my father who is now at peace from what was a very aggressive form of leukaemia. Days later I came across a wristband at a Priceline checkout that I purchased in favour of the Leukaemia Foundation. The message it had was Live Every Day. Three words I now adopt as a motto.
Sorry for your loss of your dad, may his memory be eternal.
Thanks for the update on your progressionand warning Karina, just read the thread again
The US journey sounds like an interesting chapter also
My parents quit their smoking many years ago, Dad did it cold Turkey with a decisive action one day, Mum found it harder and went through the various options such as patches etc; glad they did though, as I've seen friends grandparents suffer through their final days due to the habit
The US journey sounds like an interesting chapter also
My parents quit their smoking many years ago, Dad did it cold Turkey with a decisive action one day, Mum found it harder and went through the various options such as patches etc; glad they did though, as I've seen friends grandparents suffer through their final days due to the habit
Thanks for the update Karina.
I am sorry for the passing of your father. It sounds like you had a lot of valuable time with him before he passed away, something I am sure you will look back at with good memories in later years.
Well done on your USA purchases. Look forward to hearing more about them in the future.
David
I am sorry for the passing of your father. It sounds like you had a lot of valuable time with him before he passed away, something I am sure you will look back at with good memories in later years.
Well done on your USA purchases. Look forward to hearing more about them in the future.
David
So sorry for your loss. I'm just new to posting here, so I have only just read your story.
I know a lady called Prue Muirhead who won a competition last year - and was named the Investor of the year. I think you should enter - you have a great story. I'll try and find out how she heard about the comp and get back to you.
I know a lady called Prue Muirhead who won a competition last year - and was named the Investor of the year. I think you should enter - you have a great story. I'll try and find out how she heard about the comp and get back to you.
Welcome aboard Sponge. The YIP Investor of the Year for 2011 competition closed a month ago.
Hi Karina,
Love your inspiring story. Good for you.
I notice from reading etc that many of the success stories come from people who buy cheap in regional areas.
I was considering that too in Whyalla or Port Augusta for example because they have housing trust homes and I am semi familiar with the state.. I was going to few years back when they were 75K but got talked out of it. Now of course they are 130K.
What gets me is how do you keep buying? Its one thing to have good LVR but the DSR is important & most peoples incomes from working dont change much over the years. Whats the secret to this. Is it simply that the rents are cash flow positive thereby increasing your income?.
I have hit wall with borrowing more & have actually started a thread posted on this part of the forum titled "selling to raise capital"
Like you, I believe there is always a solution, a way to get what you want so Im digging under all the way to China trying to find solutions.
I would be most grateful if you could read my thread & make a comment on my situation. Perhaps tell me what you would do?
Thank you.
Love your inspiring story. Good for you.
I notice from reading etc that many of the success stories come from people who buy cheap in regional areas.
I was considering that too in Whyalla or Port Augusta for example because they have housing trust homes and I am semi familiar with the state.. I was going to few years back when they were 75K but got talked out of it. Now of course they are 130K.
What gets me is how do you keep buying? Its one thing to have good LVR but the DSR is important & most peoples incomes from working dont change much over the years. Whats the secret to this. Is it simply that the rents are cash flow positive thereby increasing your income?.
I have hit wall with borrowing more & have actually started a thread posted on this part of the forum titled "selling to raise capital"
Like you, I believe there is always a solution, a way to get what you want so Im digging under all the way to China trying to find solutions.
I would be most grateful if you could read my thread & make a comment on my situation. Perhaps tell me what you would do?
Thank you.
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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 back from spending several months on the ground in Georgia having purchased a few more properties for myself on this last trip.
I have also set up a buyers agency, Select American Homes to assist international investors to purchase, renovate and tenant foreclosure homes.
We sourced some amazing deals over the last few months and I have put together a short video showing footage of some of the properties we recently secured.
You can view the video at this link
http://www.youtube.com/watch?v=ZaDK2wwgBeg
We are offering the real deal and pass on the properties at the same price we secure them for with no middle men or mark ups involved so investors can truly buy at wholesale prices.
If anyone has any questions about investing in the US or I can help in anyway please feel welcome to PM me or you can email me at [email protected]
I have also set up a buyers agency, Select American Homes to assist international investors to purchase, renovate and tenant foreclosure homes.
We sourced some amazing deals over the last few months and I have put together a short video showing footage of some of the properties we recently secured.
You can view the video at this link
http://www.youtube.com/watch?v=ZaDK2wwgBeg
We are offering the real deal and pass on the properties at the same price we secure them for with no middle men or mark ups involved so investors can truly buy at wholesale prices.
If anyone has any questions about investing in the US or I can help in anyway please feel welcome to PM me or you can email me at [email protected]
Wow !!!
That was impressive Karina, nicely put together.
I'm staggered by the low purchase prices, you certainly get alot of house for a tiny price tag.
It seems like the rental is pretty low as well. Only USD $ 1,100 per month for such nice large homes.....the yield seems great as the purchase price was even lower.
You might be onto something there, although Steve McKnight seemed to go that way a few years ago and pulled his horns in for some reason.
Good luck with the venture. You're a long way from Rangeway in Geraldton !!!
That was impressive Karina, nicely put together.
I'm staggered by the low purchase prices, you certainly get alot of house for a tiny price tag.
It seems like the rental is pretty low as well. Only USD $ 1,100 per month for such nice large homes.....the yield seems great as the purchase price was even lower.
You might be onto something there, although Steve McKnight seemed to go that way a few years ago and pulled his horns in for some reason.
Good luck with the venture. You're a long way from Rangeway in Geraldton !!!
Definitely Oscar we will look back in 10 years and anyone who didn't use the strength of the dollar now will be kicking themselves when the recession comes around and it's at 60c.
There's no doubt a lot of pitfalls with investing in USA or any other country and a lot of bad stories, but equally the same can be said for a foreigner investing in Australia, eg Japanese who bought in GC before the bust, people investing in Cairns ahead of sugar industry falling.
These are things that can be easily avoided if you have time and have done your homework, and the risk will be significantly mitigated so if you target your investments around prime sites in prime cities, for example.
Which is why, regardless of whether there's a recovery around the corner here and I don't see one any time soon, it's a place I wouldn't invest in the foreseeable future. If there were a recovery it'd probably be driven by an Asian boom, I might as well invest in to China before the RMB runs away from the US$, and that will be a permanent shift in buying power as global pressure is on the RMB to appreciate.
There's no doubt a lot of pitfalls with investing in USA or any other country and a lot of bad stories, but equally the same can be said for a foreigner investing in Australia, eg Japanese who bought in GC before the bust, people investing in Cairns ahead of sugar industry falling.
These are things that can be easily avoided if you have time and have done your homework, and the risk will be significantly mitigated so if you target your investments around prime sites in prime cities, for example.
Which is why, regardless of whether there's a recovery around the corner here and I don't see one any time soon, it's a place I wouldn't invest in the foreseeable future. If there were a recovery it'd probably be driven by an Asian boom, I might as well invest in to China before the RMB runs away from the US$, and that will be a permanent shift in buying power as global pressure is on the RMB to appreciate.
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 steve but he has managed to find a way to make the investments work by teaming up with a guy in the US that is part of a church group and they are sourcing their tenants from the church, Genious McNight!
DeltaBerry,
Totally agree there are some pitfalls in investing in the US. There are loads of sharks out there right now selling absolute overpriced rubbish to Aussie Investors that have no idea what they are buying. They do not source the properties from the foreclosure market but rather team up with flippers (US investors) that pick up properties for low prices , spruce them up , put a tenant in them and then sell them to aussie investors as a turn key product through buyers agents at huge markup´s. I have seen 100% mark ups and higher come through my mailbox.
For anyone considering investing in the US....
These are the golden rules of getting it right in the US
1) Buy in the right area
2) Buy at market price or below
3) Have good management.
How to protect yourself from the sharks.....
Find out what the property you are buying for last sold for. Australian´s are buying what looks good on paper and unfortunatly sacrificing the quality of what they are buying by chasing the super high returns.
You can identify what a property last sold for in a number of ways
1) www.zillow.com (type in any address and you can see the price history)
2) check the county website for the last sale price (go to the property section or tax assessment section of the county site and type in the address)
3) do a google seach of the address you are considering buying. You will be surprised what information you can find.
Also my mail server is currently down and has been for the last 24 hours (can´t receive any emails at the moment), in the interim you can email me at [email protected]
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 steve but he has managed to find a way to make the investments work by teaming up with a guy in the US that is part of a church group and they are sourcing their tenants from the church, Genious McNight!
DeltaBerry,
Totally agree there are some pitfalls in investing in the US. There are loads of sharks out there right now selling absolute overpriced rubbish to Aussie Investors that have no idea what they are buying. They do not source the properties from the foreclosure market but rather team up with flippers (US investors) that pick up properties for low prices , spruce them up , put a tenant in them and then sell them to aussie investors as a turn key product through buyers agents at huge markup´s. I have seen 100% mark ups and higher come through my mailbox.
For anyone considering investing in the US....
These are the golden rules of getting it right in the US
1) Buy in the right area
2) Buy at market price or below
3) Have good management.
How to protect yourself from the sharks.....
Find out what the property you are buying for last sold for. Australian´s are buying what looks good on paper and unfortunatly sacrificing the quality of what they are buying by chasing the super high returns.
You can identify what a property last sold for in a number of ways
1) www.zillow.com (type in any address and you can see the price history)
2) check the county website for the last sale price (go to the property section or tax assessment section of the county site and type in the address)
3) do a google seach of the address you are considering buying. You will be surprised what information you can find.
Also my mail server is currently down and has been for the last 24 hours (can´t receive any emails at the moment), in the interim you can email me at [email protected]
