US foreclosures - Boholt Seminars - NO

[meconium]

There is a lot of positivity coming out of Emma, clearly a very energetic person. What she is doing is eminently doable for those with energy and time.

The negativity from a few naysayers is misplaced. The remark about toilets being blocked more often in the USA than in Australia is one such example. Guys, if you aren't interested in foreclosures why not start another thread. Perhaps something like: "Foreclosures - why bother?" or "The world is in meltdown again, nobody needs homes."

People like Emma who have a can-do attitude really do achieve great things. She's clearly shown that one does not need a buyers agent or spruiker holding one's hand to make good.
Full marks Emma.

 

[Emma171]

THREE CARDINAL RULES.. Location! Can you walk from your investment property to STS...

SHOPS... Large.. walmart etc..
TRANSPORT... In Vegas that means a central line
SCHOOLS.. They are more frequent in Vegas but still.

If the answer to all three is yes, then it will rent.... yes, same as anywhere...

 

[DEC]

The negativity from a few naysayers is misplaced. The remark about toilets being blocked more often in the USA than in Australia is one such example. Guys, if you aren't interested in foreclosures why not start another thread.

I have no idea how you got the idea that I was a naysayer and not interested from that comment, far from it.
I am very interested, which is exactly why I asked the question and asked for comment from someone who is on the ground and doing it.
I think asking questions is good
Certainly better than blind acceptance.

 

[DEC]

DEC.. This refers to my earlier posts.. I don't do condos, I do single family properties, I don't over price and I choose carefully my tenants. I spend enough time in Vegas that I do my own reviews. Get a security deposit, stay on top of rents and yes, everyone can have the odd bad tenant but if the worst happens and you need to get rid of someone.. Or they walk out.. If you have the right property, you end up not losing $$ because you can rent it out again quickly. I price about 10% below others for quick rentals and my single family properties are cheaper to rent than an apartment.. My tag line on my ads is "why rent an apartment when for the same price you could be living here".... Sorry all you MFR fans out there but I have yield to make! Have a good property manager too... Oh, yes, just like any rental anywhere...!

So you seem to be saying that it's similar or the same as Australia where those landlords that do the extra effort getting good area's good tenants and good pm's have better results than the rest and those that go in with blinkers on and dreams of easy money strike trouble

I wonder why rick otton was so negative in that article?

 

[reeco]

I have no idea how you got the idea that I was a naysayer and not interested from that comment, far from it.
I am very interested, which is exactly why I asked the question and asked for comment from someone who is on the ground and doing it.
I think asking questions is good
Certainly better than blind acceptance.

+1 I don't know how you got that either. There's a difference between a naysayer and being objective. I think you have the two mixed up meconium. Everything emma has mentioned is gold. All great ideas should, nay..they must be open to objectivity.

Until Dec brought up that link, I had very little clue as to the not so glam side of a 15-20% return in the States. Which is something we all need. Thanks Dec and thanks Emma.

 

[Aaron Sice]

http://www.housebuyersusa.com/index

Quite a few testimonials from Aussies who used them.

Cheers,
Michael

hi michael - there's also a lot of testimonials from traders international in qld - and we all know that one.

 

[reeco]

Hi Emma,

If you were in australia now and you were stuck(wife/kids/work/husband etc) how would you go about your predicament? Is There a particular time of year you would travel to Vegas? Asap i'd assume.

I guess what I'm saying is could you be confident on running your investments from Australia knowing you could only fly there up to three times a year? I say this because I believe it's something most if not all people here would be doing at the start and during the properties investment cycle..your thoughts appreciated

 

[Rockstar]

Kudos Emma for making this a great thread. Your enthusiasm is infectious for quite a few here. You obviously have a winning formula which is backed up by a great attitude, persistant hard work, and now generosity in sharing information. While I think that your formula can be repeated by someone else in USA, to get the same results as you would not be possible unless they were equally as positive and hard working. And if they did possess the same qualities as you I would think that they could achieve similar results in Oz. What do you think - do you ponder these things? Just thinking about the seminar gurus who get people to sign up and pay for their secret formulas. How many go on to success? So many think the formula alone will lead them to big bucks. They don't realise how much effort and time is required - and they don't realise that this is the most important requirement. They get so warm and fuzzy at the event but soon get deflated when they find out that it's not going to fall into their lap so easily.
There are quite a few inspirational members on this forum who remind me of you and they are doing it all in their own way and place. Some people will obviously look closely at applying your formula in your place (and all the best to them) but I hope the rest take inspiration from your attitude and develop those qualities in their own mind to achieve similar results in their own property patch. Anything is easy if you possess the right attitude, enthusiasm and willingness to learn and work at persistently over a reasonable time period.
Thanks

 

[Emma171]

Reeco... Three times a year would be over kill. The lease terms are 1 year so once a year is ample. I manage all my US properties remotely for at least 4 months stretches and my Alaska ones at least by 10 month stretches. If you do a good overview of each property on your tax deductible holiday once a year (and let's be honest, the most expensive absolute line item expense that could go wrong in Vegas is an a/c unit meltdown at 3k), you have a very little to worry about. Further, in the visit you have once a year, you meet with your "tradies" or real estate agent over a beverage and things are great. My comp on this isn't Vegas but Alaska. I have a couple of duplexes in Fairbanks ( think 120 miles south of the arctic circle) and a single property in Anchorage... I go up one or two months in summer and that is it (beautiful, beautiful). The rest I deal with remotely... And that is with NO property manager. I have my trusted heating and plumber on call that my tenants (who I hand selected and trust, ironically), can ring anytime needed and a general laborer for miscellaneous. The rest of the big items wait until summer when I am there in person and do a thorough overview... And trust me, Alaska is the toughest environment on the planet and about as remote as it gets!

Choose a good property, dot it up well, choose a good tenant and you shouldn't need anything more than an on call property manager with a good general laborer, plumber and a bank account number for the tenant to deposit the funds into.... Your property manager is there for the paperwork in my mind if they do a good job, otherwise, I don't want to hear from them as it can only be bad news! BTW If anyone needs a great plumber, a/c guy or general worker in Vegas, let me know because my guys rock and I am happy to give you their names...they are honest, on time and work hard. I know because whilst I seriously can literally do the work myself, they do it better and I know it... And they know I know too! LOL... I am the constant source of amusement for them!

OH avoid August... Hot as Hades. spring and Autumn are great times... Warm and pleasant... Yummy.

 

[Emma171]

Rockstar.. Yes I just learnt a bit about what others espouse at seminars tonight... Having been tossed out, I wasn't aware of the need for secrecy when EVERYTHING is free public knowledge... So, If you ever, ever, ever think of buying a US property from anyone, promise me that you go to zillow.com and check what the previous sale of that property was for... Do NOT let wholesalers make 5-15k more from you on a paper flip... Good grief... If you haven't used zillow, get to know it. Type in lne of my addresses to learn how to use it... (previously mentioned one for an example) 5345 Hammond Court Las Vegas 89110... Oh and change the graph to 10 years to see the perfect housing bubble......

 

[D.T.]

Have i mentioned how much of a legend you are Emma? Thank you for being so forthcoming with your experiences.

 

[long88]

emma,

i was reading about tax liens on the property, how do we know that the property that we are going to buy havent got any outstanding tax that will become our burden after we bought it ? or is it somthing not to worry about on foreclosed ?

thx again for the great info.

 

[D.T.]

long88 - title insurance.

 

[Perp]

I wonder why rick otton was so negative in that article?

Because on the same page there's an affiliate link to an ebook you can buy, which warns of the perils of investing in the USA.

 

[Rockstar]

Oh and change the graph to 10 years to see the perfect housing bubble......

wow Wonder how many read it and sold out in '06?

 

[Emma171]

Just heard from my real estate agent who is being contacted regarding property management... Don't want to get her into trouble as she isn't legally allowed to mention anyone... But ha, I can. If you want, contact Jean Joyce of Real Property Management in Vegas... [email protected]

Mention my name and she has agreed to waive set up fees (normally $350) and only charge 7% commission. If you want her to find and source you a tenant (you may want to do this yourself), she will charge 75% of first months rent. I can guarantee I am not getting anything out of this and the norm is 8% plus plus plus... Jean has worked with hedge funds and the foreclosed market for a while. She completely concurs with me that you need to be looking at single family properties, 3bedrooms, 2bath minimum and double car garage.... In other words someone I like and not a condo recommender given the high vacancies so if you get this far, she probably isn't someone to take on an MFR.

This is a switched on woman and doesn't charge lease renewal fees. In other words, I am not a huge advocate of property managers but there are switched on great people out there. You can structure how hands on you wish to be and I would suggest that you review things like maintenance charges etc...any scary things you think of... Ask up front!


Hope this solves a missing link....!

 

[DEC]

Because on the same page there's an affiliate link to an ebook you can buy, which warns of the perils of investing in the USA.

A quick google search for the book title gets you to the download page, a quick click and 78 pages appeared for free.
Smart business model that one

 

[Aaron Sice]

long88 - title insurance.

title insurance is dead thanks to the robo-signing debacle.

 

[Chui]

post deleted

 

[NedKelly]

A quick google search for the book title gets you to the download page, a quick click and 78 pages appeared for free.
Smart business model that one

If you look at her picture on her home page I reckon it is worth paying the extra to get her email address!