The United States

I have traveled to Texas on a number of occasions in the last 12 months. The reason being is that the market there is still undervalued.


The medium price in California is around $540,000. In San Antonio the current medium price is $139,000. It is possible to purchase small apartment complexes for $100,000-$300,000 and receive great returns of in excess of 10%. One of the concerns that many investors have is that it’s a long way to Texas, so how can an investor be confident of their purchase.

I am confident of that market, in fact so much so that I am moving to San Antonio from Monday 18 September to manage a Real Estate company and to establish an investment division. Naturally that will include a property management department.

This means that I will be able to source some great deals for Australians, from straight purchases to foreclosures and even renovation opportunities. We will be able to source finance on your behalf and we also work with one of the larges accounting firms in Texas who specialize in tax structures for international investors.








The market in Texas today is a bit like investing in New Zealand 4 years ago. The market has plenty of room to grow and the returns are great.



Should anyone be interested you need to email me, I will then be happy to keep you informed.
 
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The medium price in California is around $540,000, which is also very similar in many Australian cities. In San Antonio the current medium price is $139,000.

Come on Nige.. at least tell us what sort of dollars you're working in.. $540K in California.. $USD = $540K in sydney $AU? Utterly worthless peice of info perhaps?
 
Yes Ducan

That is true, however there are many great deals to be done there. My main focus is to promote Texas to other parts of the United States. But there are still great opportunities for Australians to invest there. The fact that I am moving there should indicte that it is not useless information.
 
The purpose of the post is to talk about the American market. I will remove that sentence. Investing should be about following your dreams and being challenged. I am offering to keep people informed about the market in the United States if they are interested.
 
Investing should be about following your dreams and being challenged.

I dont think anyone will deny that there might be some truth in that...

Just calling the fluff and ra-ra as I see it in your original post. Good luck in the States, must be an exciting time for you!
 
The medium price in California is around $540,000. In San Antonio the current medium price is $139,000.
.

I'm not saying Texas is a bad investment - but I think it's ridiculous to compare medium prices from California to Texas - it would be like comparing Sydney to Adelaide (no offense to Adelaide, I enjoy the city!) but it's pointless to compare mediums between the two and say one is over or under valued - you need to look at the history of the two cities themselves.

Cheers,
Jen
 
Nigel why not put some brief informative info on your website about investing in teh USA. ie like taxes/rates, whether loan pmts are tax deductible, landlord's rights vs tenants'.......etc

your website is pretty but uninformative currently....
 
Jen

I have looked at the two states in detail. There is no doubt that California is currently overpriced in many of there cities. In Texas there is still a lot of room for growth. Most property investors currently buying in Texas are from California.
In San Antonio the city was once a military city. That has largely changed. Recently Toyota have started building there biggest plant in the United Staes there. Many companies are also relocating to Texas. The growth in Texas will be steady. The other thing to consider is that up to know there have been no state taxes in Texas, but there are property taxes. These property taxes are currently 3 percent with around 1.5% to fund schools. This tax has been deemed unconsitutional and there is a strong belief that after the November elections the tax will reduce to around 2%. If you can buy positive cashflow property in a major city that is growing then this represents a great place to invest.
 
Personally I'm looking for a good value place in Wichita Falls.

But wouldn't turn my nose up at Petrolia either.

Needs to suit a single person or couple.

Cheers,

Aceyducey
 
Nigel

Do you have any ccharts ( I like charts ) on long term history off prices in Texas / Sna Antonio .

While it may be cheap andd give cash flow positive , I wouldn't think that getting a 10 % return warrents the hassels of investing in another country .
I'm sure there are places in Australia I could find a 10 % return , but no where I'd want to invest at this stage of the cycle.

Could you provide historical charts showing longer prices in San antonio compared with other centres in the USA , over at least a couplee of cycles.

As an example of what I mean . have a look at the charts in this thread.

http://www.somersoft.com/forums/showthread.php?t=11656&highlight=Rocky+thing

See Change
 
further information

I will be in San Antonio on Tuiesday morning our time. I will continue to post and will provide as much information as I can, that is available.
 
To the Mods...

This thread doesn't belong in "where to buy".

Yet again (see below) it is Nigel advertising his services as a BA.

If you aren't going to bin it for being spam, at least put it in Caveat Emptor.




To anyone considering investing in the United States property market...

Please, please, please do your due-diligence and be aware of the numerous and growing reports of a correction in the US market.

Do not rely on the say so of others.




And to you, Nigel...

On 15 May 2006 you posted this:

most of what I do is try to contribute to the discussion.

Well, I beg to differ.

The reality is that your contributions to this forum - and certainly the threads that you start - are consistently and primarily aimed to promote your own services.

How else could you explain that this is the 6th thread that you have started this year that discusses your BA activities in Texas?

For the record, the other 5 were started on 15 April, 26 April, 23 April, 11 August, and 10 September.

We get the message Nigel - you've moved to Texas, you're managing a property company (woo hoo) and you're offering your services as a BA to investors.

How many times do you have to say that?!


And on 15 May, you also said this:

I have never actually picked up a single client from Somersoft.

A piece of advice...

The secret to impressing people and perhaps getting them as clients is to provide concrete research and advice that helps others and answers the questions they raise.

Posts that are full of self-serving innuendo and appear only to be excuses to mention the services you offer do not impress people.


And you once commented (also on 15 May if you want the reference) that it was "a long time ago" when you got told off for spamming.

Frankly I am amazed it doesn't happen more often.

The evidence suggests that you're a serial spammer / self promoter (perhaps the worst on the forum).

Have a nice day

M
 
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My question: is the US such a great market that it's worth having to learn another tax system, legal system, buying system, financing, etc? Have we completely run out of investment opportunities in Australia (in a system that we're familiar with)?

Between the six or seven major cities in Australia, plus regionals, you'd think we have our hands full.
Alex
 
Besides, Nigel, if you have great CF+ deals in the US, why not market them to American investors? Surely it would be easier for an American investor who is already aware of the laws, residency issues, etc. to buy your recommendations? Why spend the time educating Australian investors on US tax law, etc? I can't imagine it's that hard to find American investors interested in positive cashflow properties with great potential growth.

On the flip side, how many Perth properties in recent years have been marketed to Americans? If they're not interested in going outside their home markets, should we?
Alex
 
My favourite "Nigel Kibel - it is all about me" moment....

From this thread.



Does anyone know of a good accountant in perth who deals with foreign investment income?

I am looking to invest Property in New zealand and would like someone to provide me with advice and tips as required?


And how did you reply???


I have purchased a lot of properties in New Zealand and am now focusing on the US market.


Amazing! :rolleyes:

M
 
To keep people informed

I seem to always recieve negative responses on this forum. So lets get a few things staight. The reason that I am going to the United States is to manage a real estate business and start up an investment and education business. This business is aimed staight at American investors, not Australians as such. It is my experience that many people make serious mistakes when investing in the United States because they do not do study the market. The reason I am posting here is to share my experiences in the United States and assist Australians should they wish to invest there. Australia is a tiny market compared to the United States. I do not mind people questioning my motives however I am sick of negative people who seem to live on this forum and clearly have there own agenda, that is if they do anything at all. I am prepared to move to the other side of the world to improve my own knowledge and i am quiet happy to share it with others. I find it amusing that people selectivey quote me. I have also stated on many occassion that it is essental to do your own research. After all its your money. I am sorry I am a little touchy this morning but I am at the airport and will not see my wife and children for 3 months. To move ahead in life you sometimes have to make sacrifices. If people are interested I am happy to post if not I will not bother.
 
It is my experience that many people make serious mistakes when investing in the United States because they do not do study the market.

I'd say plenty of people make mistakes when they invest right in their own back hard because they do not study the market. Why take on the additional risk of a whole new legal system?

The reason I am posting here is to share my experiences in the United States and assist Australians should they wish to invest there. Australia is a tiny market compared to the United States.

Yes, Australia is tiny compared to the US. But surely as we all know, property is a fundamentally LOCAL market. The market in New York has nothing to do with the market in California, just as the market in Sydney has nothing to do with Perth (as Sydney investors who bought in 2003 surely understand by now). Surely there are enough properties within Australia, small market that it is, to satisfy small investors like us. I mean, realistically we probably won't accumulate more than 8 figures in property, and we can diversify quite effectively just within Australia.

It's a tiny market, but then most of us are tiny investors, and as tiny as it is it's still in the billions. I'd be happy with 40 or 50 million dollars, a tiny amount relative to just the Australian market. Can investing in the US, where I have to learn a crapload just to understand what I'm doing, really give me much better results than if I used that time to increase my knowledge of the Australian markets, where I'm already familiar with the system?
Alex
 
Nigel

Did any of what I said before get absorbed by your brain, or was it in one ear and out the other?

It is quite simple really.

If you spam - you will get hammered.

If you don't spam - then people (myself included) might give you the time of day.

It really is your choice!

M

And btw. I don't live on this forum. Not that it is any of your concern, but I resigned a good job and moved to NZ a couple of years back for alot less of a chance than the one you currently have. So don't tell me that you need to take chances to get ahead in life - I know that only too well.
 
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