did you looked at foreclosures or prices in general
there are quite a few cheapies I agree dont forget to ajust Aussie $ to US $
and then compare as we are buying in $AUS
http://www.trulia.com/MI/Detroit/
Today Tonight - America investing
- Thread starter luvvit
- Start date
did you looked at foreclosures or prices in general
there are quite a few cheapies I agree dont forget to ajust Aussie $ to US $
and then compare as we are buying in $AUS
http://www.trulia.com/MI/Detroit/
i'd rather buy a cheap fibro in Darkan or Wickepin than over there for those prices.
I wasn't advocating or implying that I would even consider buying a house there I was simply rebutting your comment that there are only "a couple" of houses under 100k, if you expand the search to say 64k USD it shows that 30% of all houses for sale in Detroit are under 100k AUD so you statement was obviously wrong.
If many properties fall in value, then the % of the taxes will presumably be adjusted so that govts still collect the same or more in revenue. I imagine this would be most noticeable at the county level.
If there are a large number of properties worth nothing or virtually nothing, I can't imagine the govts deciding to collect nothing in taxes. I guess they would adjust the "base rates" of the taxes so that any property no matter what is was worth would still cost a minimum of $XXXX
Just my assumption anyway
Absolutely right, poppy; the services still have to be paid for. But Wayne County already has one of the highest millages in the country, due to low property values; increasing it significantly would be "politically unpalatable", to put it mildly.
Now, think carefully; the words TODAY TONIGHT were mentioned.
What does this innocuous little two-word term actually signify?
It is an aboriginal (or Latin, or whatever) term meaning;
total load of BS
It's also easy to poke yourself repeatedly in the eye with a fork for even less.
The question is, why would you?
hi all
a very interesting thing about the us
is that us funder will not lend in the us
they will lend here and then you can invest in the us but not the other way around
the us for me is a very good place to invest but you need a lender that wil leverage off a aust property and thats been very hard to find
but have fun trying
a very interesting thing about the us
is that us funder will not lend in the us
they will lend here and then you can invest in the us but not the other way around
the us for me is a very good place to invest but you need a lender that wil leverage off a aust property and thats been very hard to find
but have fun trying
I read something in The Age with a similar theme. Some woman in St Albans is a property mogul, owning a few properties in America. She buys each one for about $30,000 or so. In fact, here's the article:
http://www.theage.com.au/victoria/a...s-taste-the-american-dream-20100305-powo.html
Do you guys think this is a good idea? People say that property is safe because there they are not making any more land. So why not buy in America where it is cheap?
http://www.theage.com.au/victoria/a...s-taste-the-american-dream-20100305-powo.html
Do you guys think this is a good idea? People say that property is safe because there they are not making any more land. So why not buy in America where it is cheap?
One way to reduce costs is bulldoze fringe areas and convert it back to farmland, so there's less area for the garbage trucks, city buses, postmen, police officers etc to serve (linked in another post from here). And revitalise areas that remain.
Or do like Darwin does and have a big airport in the middle of it!
The 'they're not making any more land' idea assumes that the land is, or will become, desirable. An important factor is that there needs to be more and more people who want that land. In a city that's losing population fast, and its biggest industry is in decline...... no one knows how it's going to play out. There are plans to turn big chunks of detroit into farmland or parkland: that's how much spare land they have. If Detroit is 're-planned' into a much smaller community, THEN it might make sense. Right now, there are lots of unknowns.
mmmmm buzz, yep I agree
My point, besides rambling, is that the story was, in my view, misleading.
Im sure there are couples/friends/families sitting over their meat and 3 veg tonight and talking about how cheap it is to own property in the states.
Where is the balanced journalism in the piece? sure props can be only a few hundred dollars, but what about the problems / costs associated with holding a property in the states?
What was the point of the segment in the first place? to lure aussies to invest in the states is my first thought. My second is a bit more cynical and that some "guru" will start spruiking US props here and sucking punters into buying.
When I see such blatant one sided journalism it makes me mad,and in my view Today Tonight and A Current Affair should re brand themselves as lifestyle programs, not Current Affairs shows. Their journalistic integrity should be taken with a pinch of salt.
And too much salt is a bad thing...........
Don't blame you.
I have had a few emails from Buyers Agents in OZ who are now located in US purchasing for Ozzies. They are new to the game and unfortunately buying up for their clients with no or little experience. Taking nice photos though.
I flicked over the deals to a contact I have who lives in US and is a full-time investor, all the deals he looked at he tore to pieces, were poor and he would not touch them due to location and also sales figures which were actually lower than selling prices, scarey stuff. Also the returns were not accurate as they did not include all outgoings.
Unfortunately I think many Oz investors will get burnt. I would prefer to play in my own backyard.
Cheers, MTR
Hi tracy
Regardless of all the costs which can be bandied around endlessly there is one very real cost that you need to take into account - and that is the travel and accom costs that you are going to incur if things go wrong and you suddenly need to manage thing personally. Let alone if you are in a position where you can't just take of for a week or two.
It is particularly because of these travel costs that I maintain that if you were to invest in the US you need to do it in a big way to ensure that there is sufficient cashflow to cover these additional hefty costs. You certainly are not going to cover them with an investment of one or two house even if they are return $5k each after all costs.
Cheers
Regardless of all the costs which can be bandied around endlessly there is one very real cost that you need to take into account - and that is the travel and accom costs that you are going to incur if things go wrong and you suddenly need to manage thing personally. Let alone if you are in a position where you can't just take of for a week or two.
It is particularly because of these travel costs that I maintain that if you were to invest in the US you need to do it in a big way to ensure that there is sufficient cashflow to cover these additional hefty costs. You certainly are not going to cover them with an investment of one or two house even if they are return $5k each after all costs.
Cheers