Finally finished my first US renovation

[cedase]

I posted on here several months ago about my experiences in getting a US "buy em, fix em, flip em" business going. Finally I am at the flip em stage with my first house. If you are interested in seeing images just drop me a line and I will send you links to my websites.
What a learning curve!! After 2.5 years I can confidently say I have a good handle on the process but that knowledge came at no small expense.
Other than the fact Americans speak a variation of English and live in houses, there is little in common with the Australian Real estate experience.
I'm looking for my second property now. I am unashamedly 100% addicted to the US real estate market.
Personally I see no real value in renting the properties. My intention is to buy, renovate and sell now. There are, in my area, dozens to choose from.
Anyway, thats my input and experience to date. I hope it's of some value to those thinking of treading the same path.

 

[D.T.]

If it's not too personal, do you mind sharing some example numbers on the deals you're doing?

How does it not work out better to keep and rent them, should be a great income source?

 

[empire]

I also would love to see more information if wish to share with us.

Cheers

 

[cedase]

If it's not too personal, do you mind sharing some example numbers on the deals you're doing?

How does it not work out better to keep and rent them, should be a great income source?

IMHO, If you own a house in the USA right now that owes you $60k, you rent it out without vacancy or major repair for 10 years you can reasonably expect a 10% ROI. Not bad.

If you have bought and renovated the same house to a good standard, still owing you $60k and from DOP to DOS is 120 days and you gross $80k the ROI is around 18%. But the clincher is you can reinvest that money and repeat the process 2 more times in the one year. Even if the time frame was 180 days you could still have a second bite within the 12 month period.
We're obviously not talking lots of money here, but that process done over and over until the market comes back, maybe 2015, will add up to a tidy sum.
It is a unique situation based solely on the huge number of foreclosures available in the market.
I hope that makes my reasoning clearer.

 

[sutnorinvest]

Cedase,

I'd lke to seewhat you've done ...can you advise the URL for your website pls.

sutnorinvest

 

[Aaron Sice]

+1 here - link or ban!