Investing in the USA (Brisbane meeting)

[backpacker]

Hi

Due to all the recent interest in the USA property market, at BIG (Better Investing Group) we are thinking about having an information evening as one of our future meetings. If you know of someone who would be interested in sharing their experiences with our members please contact me.

Regards, Neil

 

[grossreal]

hi
interesting post
it would be good to say where you are having the meeting.
from your name it could be in nepal.
or half way to the alice

 

[Spectre]

Brisbane - in Salisbury methinks.

 

[backpacker]

Hi

Sorry about that. It's in Brisbane.

Neil

 

[NedKelly]

What is BIG?

 

[Perp]

Stands for Better Investing Group. It's a Brisbane-based property investors networking group, originated by some Somersofters and heavily Somers-influenced. Thus many BIG members are Somersofters, and vice-versa.

 

[backpacker]

Thanks Tracey

Couldn't have said it better myself. I wonder if you would be be available at some point in the future as a speaker on this subject. I always like to read your latest adventures.

Regards, Neil

 

[AdamP]

Good time

It's probably a good time to buy in the US at the moment.

Reading http://www.nuwireinvestor.com/articles/good-economic-news-from-the-fed-52853.aspx

It looks like the US economy is flattening out.

 

[Perp]

I wonder if you would be be available at some point in the future as a speaker on this subject. I always like to read your latest adventures.

Try and stop me!

 

[redwing]

Geography of a Recession

From a USA site

Job losses have been most severe in the areas that experienced a big boom in housing, those that depend on manufacturing and those that already had the highest unemployment rates. (Updated March 19 with January data.)

An interesting site to check the unemployment rate for an area, the link shows the unemployment rate for the USA, broken down by counties.

You can scroll your mouse over each and every county and it will show you the current unemployment rate, plus the change from one year ago.

Getting a plus mark is a negative, so that 4.8% would indicate that the unemployment rate increased by 4.8% within the past year.

Interesting to note that a propery seach on single-family homes for sale in Detroit between $1,000 and $20,000 yielded 2,485 active listings!

 

[Sunfish]

It is oft stated that Australia is not like the US. I'm not sure how many realise just how different they really are.

Australia is a fairly small pond where rising water raises everything. There are ripples of variations and occasional convergence of these ripples which cause a localised pop, but overall it's an homoginous market.

Not so in the US!

Redwing says:

a propery seach on single-family homes for sale in Detroit between $1,000 and $20,000 yielded 2,485 active listings!

Detroit is part of the auto/rust belt where, to get a handle on where that area is going, you must picture a Mad Max version of a western ghost town with tumble-weeds rolling down the main street. Whole neighbourhoods are becoming derelect. Soon there will be no tax-paying residents... just squatters. No-one will fix the plumbing, so how long can the city maintain water supply? Once these residences are deemed "dead" the housing supply/demand balance will look a whole lot better than it does now.

Being a retiree, I reckon it would be good sense for me to sell my crappy suburban house to buy a Miami condo. It won't happen of course: I wouldn't dare telling Mrs Fish to pack up.

 

[Dazz]

It's probably a good time to buy in the US at the moment.

Now that type of level of specific information is just extra-ordinary.

 

[Sunfish]

Now that type of level of specific information is just extra-ordinary.

Nice to have you on board Dazz.

Are you about to join us dumping on all such non-specific posts saying how wonderful the Oz market is?

 

[Dazz]

Hell - why not Sunfish.

As someone pointed out recently, you're either a big picture economy type person or a nuts and bolts detailed type. I'm a member of the latter group, which means I don't give two hoots about the generalities and trends and medians.

I look at specifics, cos I can only purchase individual title deeds. I cannot purchase median Brisbane or lower third NSW.

IMO, anyone sprouting terms such as "the real estate market has ...." is just showing their ignorance cos it's such a varied beast you cannot decipher anything of any value from the mish-mash.

 

[Nathan]

Hell - why not Sunfish.

As someone pointed out recently, you're either a big picture economy type person or a nuts and bolts detailed type. I'm a member of the latter group, which means I don't give two hoots about the generalities and trends and medians.

I look at specifics, cos I can only purchase individual title deeds. I cannot purchase median Brisbane or lower third NSW.

IMO, anyone sprouting terms such as "the real estate market has ...." is just showing their ignorance cos it's such a varied beast you cannot decipher anything of any value from the mish-mash.

Agree 100%!

 

[Perp]

I look at specifics, cos I can only purchase individual title deeds. I cannot purchase median Brisbane or lower third NSW.

I'm not quite as dismissive of medians and other macro data, but I do 100% agree that the specific deal/property is of far greater significance.

Pick an area/niche which has at least reasonable fundamentals and prospects, then look for the best deal/property within that area/niche, and I think you'll do much better than average.

 

[Vincet Veritas]

US Investors Tour

Hi,
We have recently bought 2 properties in US (Texas) and am glad to explain to people how we did it.
Actually alot of it can be done online.
But before you make any decision you need to visit first.
I'm trying to put together a small group to go first week in Qld September school holidays if anyone is interested.
People should check out which US states have been relatively unaffected by the economic downturn (www.zillow.com). That is how we chose Texas.
If you'd like to know more.
Geoff W
[email protected]

 

[NedKelly]

We have just completed on a 2 bed condo in Florida. I just hope Disney survive the recession.

 

[grossreal]

hi all
we are sending a group to the us
if anyone has legals and accountants in the us that can setup llc that would be good.
we are setting up from here
usual Aust structure just a mirror for that market.
pm me if you have people on the group over there we have a group of bird doggers already but looking for more

 

[grossreal]

hi backpacker
what is the group you are presenting to going after
what structures are you using and more inportant to me is who are you using to fund out the property once purchased.
have you got a group here in sydney that is doing the same or is it a buyer club.
if you can post or pm or even send me an email to [email protected] so that I can discuss
I am at the moment very interested to see what people are aiming at
we are aiming at a very specific market place with a plan of attack getting info on the ground is finejust the mechanism is a bit more difficult from this side of the water