i'm sure google could answer that.
US foreclosures - Boholt Seminars - NO
- Thread starter lawsjs
- Start date
i'm sure google could answer that.
Grossreal, to be blunt your stuff scares me silly!
I quote my LA broker again:
There are WAY TO MANY of the insiders - the same crooks that took the banking system down playing in that market for outsiders to get great deals on foreclosures. Look up who now owns First Federal Savings he also owns a couple of other defunct banks and savings and loans. He was there for the downfall, got out, and then got the free gov't money to take on the defunct banks and he is making a killing. This is a story repeated over and over - capitalism at it's best. If they can find the product it will be the stuff NOBODY over here wants like in Detroit. Buy at prices about 25-35% above online 'best deal' and you _can_ get some very nice property.
Or to misquote Top Gun:
'Thats some of the best investing I have seen yet - right up to the point you got killed'
It is a jungle out there....
I quote my LA broker again:
There are WAY TO MANY of the insiders - the same crooks that took the banking system down playing in that market for outsiders to get great deals on foreclosures. Look up who now owns First Federal Savings he also owns a couple of other defunct banks and savings and loans. He was there for the downfall, got out, and then got the free gov't money to take on the defunct banks and he is making a killing. This is a story repeated over and over - capitalism at it's best. If they can find the product it will be the stuff NOBODY over here wants like in Detroit. Buy at prices about 25-35% above online 'best deal' and you _can_ get some very nice property.
Or to misquote Top Gun:
'Thats some of the best investing I have seen yet - right up to the point you got killed'
It is a jungle out there....
http://nevadaincorporationscenter.c...rticles/business-structures-get-informed.html
Quite a good link for explaining why an LLC etc. FYI Yolanda is going to a real-estate taxes seminar and is going to pose some death estate tax questions pertaining to LLC owners who are non residents and sone new rules... I am sure she will enjoy it for all of us.... Ooh fun.
bevk .. Not coveed by insurance... Get a good bond.. Called security deposit and do do do a background check. Be careful when claiming insurance in the states for anything other than a catastrophe. I had a small fire in Alaska caused by charcoal grill bits self combusting (!!!!! it happens... Seriously!!!!!), caused 2k of damage and I claimed it. The next investment property I got, I wasn't able to even obtain insurance through anyone other than my existing insurer because of my massive prior claim... 10 years later, it is still on the books. Ha. Learnt a valuable lesson.
Quite a good link for explaining why an LLC etc. FYI Yolanda is going to a real-estate taxes seminar and is going to pose some death estate tax questions pertaining to LLC owners who are non residents and sone new rules... I am sure she will enjoy it for all of us.... Ooh fun.
bevk .. Not coveed by insurance... Get a good bond.. Called security deposit and do do do a background check. Be careful when claiming insurance in the states for anything other than a catastrophe. I had a small fire in Alaska caused by charcoal grill bits self combusting (!!!!! it happens... Seriously!!!!!), caused 2k of damage and I claimed it. The next investment property I got, I wasn't able to even obtain insurance through anyone other than my existing insurer because of my massive prior claim... 10 years later, it is still on the books. Ha. Learnt a valuable lesson.
hi lawsjs
funny that
we have agressive and we have passive investors and it does depend which you fall into
if you are a in the first then its not scary at all it is for you because you are not in that type of group
you may well be in the latter group which is where you would find smsf
so straight investing with or without a return comming back
usually you don't find an agressive smsf but I do not see why it won't happen.
i will answer in brackets as I have no idea how to change colours on an apple unit thou I am not one to paste but I think it important
Grossreal, to be blunt your stuff scares me silly (this I have answered)!
I quote my LA broker (you are using a broker and to me if the brokers there are similar to brokers here I would gain their information but would not rely upon it I spoke to one yesterday that was a broker and a financial advicer and was recommending to a group of 40 chefs where they should invest there money and the conclusion was host oh and she was such a good advicer that she is yes a chef in the kitchen so thats why I accept their info but thats about it)
again:
There are WAY TO MANY of the insiders - the same crooks that took the banking system down playing in that market for outsiders to get great deals on foreclosures( this is not rocket science we have ex reserve people telling people not only how to use super but in charge of a few so your broker is a very bright person so far). Look up who now owns First Federal Savings he also owns a couple of other defunct banks and savings and loans( again he is showing me he's bright). He was there for the downfall, got out, and then got the free gov't money to take on the defunct banks and he is making a killing( we had a home loans guy here that sold his bus for 500mil I think 1 day before the walls fell in we have another guy I hear on radio telling people how to do home loans and invest he had his own paper and home loan group flogged it and it went west as well so again no news here if you follow a market there is not alot yet that scares me). This is a story repeated over and over - capitalism at it's best(you are in the land of the free as they say so I think that you should find a bit of capitalism there). If they can find the product it will be the stuff NOBODY over here wants like in Detroit one man rubbish is another mans gold using you brokers view you would never go prospecting he would say well people have been there and found nothing go to somewhere where others are buying or prospecting for me not a good plan but then I am not a broker so what do I know). Buy at prices about 25-35% above online 'best deal' and you _can_ get some very nice property (he left the best to last I don't want a nice property I was involved in the first 27sq mtr 1 br units in sydney they were dog ugly swing a cat you would need to cut off its legs they advanced from that to 20sq until banks stopped lending on them now did they rent their heads off yes a nice house is a house you want to live in, an investment house is a house someone wants to rent and they are not the same)
(what you broker has failed to see is the one thing that I look for and no you should not look for the same use your own evaluation methods but I look at value not is it nice I look at return against rentability, refi against what they call hard money in growth against negative growth for the area (you can invest in negative growth as long as the return well outstrips the purchase and hold price but again get your own evaluation tools) want for rentals and possible movements people into or out of an area) now if you can tell me not this broker what anyone he has mentioned will have any control or even adjust my evaluation I would be very interested in not my answer with due respect is that I have no idea nor am I that much interested in what some broker some place think that a heap of bankers some where want to rip people off if he wants I can give you list of bankers here that want to rip people off cba just raised it rates for no other reason then to do the same
the USA has not got all these guys there are a few here
but am I scared no.
the US market is for me a long long haul market and if you can refi with a structure thats find
just my view and don't let it change your investing views
I must admit I have enjoyed yours and emmas views and has been very helpfull I may sound hard but I field 20 or thirty question from investors on my views and I do have to say that just because a person has a view does not make it set in stone that that view is correct information its there view.
and even when some one says I have it in writing my view is its still the view of the person that signed the paperwork its not set in stone
if you are in the USA you will know the 10th ammendment and thats been change so many times and thousands of people have views on that.
you evaluate with your tools and add as needed
there is one way road to success and people that tell you there is are wanting you to push them along their path.
for me I like a thing thats not advertised nor should it so they tell me
and thats syndicates
now for me 10 sets of eyes is better then one.
and a spread of risk is better then buy a house and hope
but thats my view
and thanks again for your openess
add ...,,,''// where needed and those that don't like my posts don't read have a coffee
funny that
we have agressive and we have passive investors and it does depend which you fall into
if you are a in the first then its not scary at all it is for you because you are not in that type of group
you may well be in the latter group which is where you would find smsf
so straight investing with or without a return comming back
usually you don't find an agressive smsf but I do not see why it won't happen.
i will answer in brackets as I have no idea how to change colours on an apple unit thou I am not one to paste but I think it important
Grossreal, to be blunt your stuff scares me silly (this I have answered)!
I quote my LA broker (you are using a broker and to me if the brokers there are similar to brokers here I would gain their information but would not rely upon it I spoke to one yesterday that was a broker and a financial advicer and was recommending to a group of 40 chefs where they should invest there money and the conclusion was host oh and she was such a good advicer that she is yes a chef in the kitchen so thats why I accept their info but thats about it)
again:
There are WAY TO MANY of the insiders - the same crooks that took the banking system down playing in that market for outsiders to get great deals on foreclosures( this is not rocket science we have ex reserve people telling people not only how to use super but in charge of a few so your broker is a very bright person so far). Look up who now owns First Federal Savings he also owns a couple of other defunct banks and savings and loans( again he is showing me he's bright). He was there for the downfall, got out, and then got the free gov't money to take on the defunct banks and he is making a killing( we had a home loans guy here that sold his bus for 500mil I think 1 day before the walls fell in we have another guy I hear on radio telling people how to do home loans and invest he had his own paper and home loan group flogged it and it went west as well so again no news here if you follow a market there is not alot yet that scares me). This is a story repeated over and over - capitalism at it's best(you are in the land of the free as they say so I think that you should find a bit of capitalism there). If they can find the product it will be the stuff NOBODY over here wants like in Detroit one man rubbish is another mans gold using you brokers view you would never go prospecting he would say well people have been there and found nothing go to somewhere where others are buying or prospecting for me not a good plan but then I am not a broker so what do I know). Buy at prices about 25-35% above online 'best deal' and you _can_ get some very nice property (he left the best to last I don't want a nice property I was involved in the first 27sq mtr 1 br units in sydney they were dog ugly swing a cat you would need to cut off its legs they advanced from that to 20sq until banks stopped lending on them now did they rent their heads off yes a nice house is a house you want to live in, an investment house is a house someone wants to rent and they are not the same)
(what you broker has failed to see is the one thing that I look for and no you should not look for the same use your own evaluation methods but I look at value not is it nice I look at return against rentability, refi against what they call hard money in growth against negative growth for the area (you can invest in negative growth as long as the return well outstrips the purchase and hold price but again get your own evaluation tools) want for rentals and possible movements people into or out of an area) now if you can tell me not this broker what anyone he has mentioned will have any control or even adjust my evaluation I would be very interested in not my answer with due respect is that I have no idea nor am I that much interested in what some broker some place think that a heap of bankers some where want to rip people off if he wants I can give you list of bankers here that want to rip people off cba just raised it rates for no other reason then to do the same
the USA has not got all these guys there are a few here
but am I scared no.
the US market is for me a long long haul market and if you can refi with a structure thats find
just my view and don't let it change your investing views
I must admit I have enjoyed yours and emmas views and has been very helpfull I may sound hard but I field 20 or thirty question from investors on my views and I do have to say that just because a person has a view does not make it set in stone that that view is correct information its there view.
and even when some one says I have it in writing my view is its still the view of the person that signed the paperwork its not set in stone
if you are in the USA you will know the 10th ammendment and thats been change so many times and thousands of people have views on that.
you evaluate with your tools and add as needed
there is one way road to success and people that tell you there is are wanting you to push them along their path.
for me I like a thing thats not advertised nor should it so they tell me
and thats syndicates
now for me 10 sets of eyes is better then one.
and a spread of risk is better then buy a house and hope
but thats my view
and thanks again for your openess
add ...,,,''// where needed and those that don't like my posts don't read have a coffee
k...........time for some form of external proof to the media hype...........how can we prove "that CBA raised its rates to just rip people off"
ta
rolf
hi rolf
as I posted these are views
are you of the view that the cba did it because they were going to lose or was it to gain extra profit
oh did they make a loss last year I think not.
for me the sooner we have a royal commission into the banks the better
it should be the same as say the wood royal commission and I think the reserve should have to tell us all what information they were working on before they allowed smaller banks to be swallowed up
swan says he was working on professional advice well from who
and if it is shown that there was and I think there was no need to swallow up the smaller banks st george and bankwest then why did it happen and that intern allows the rises without any real reason to follow
the banks are the only people thats you sign an agreement where they may or may not fund you they can cancel at anytime an agreement
they can charge you any amount they think is ok for them.
and you have no way of challenging that movement except cancel the said agreement
you have no recoarse against the agreement and they can change it when they feel is fit and in the case of the cba
it was 5 mins before the end of a horse race and even there spokesman said on radio that before the race started he did not know they were going to raise the rate as I heard him on 2ue
so take advantage rip off or fleece which ever way you say it its the same
the banks and the bankers are taking the clients for a ride and have for a very long time and they do not seem to be changing that position
and as I said thats not just here or the US
when we have the facts around why bankwest and st george were allowed to be swallowed up I think that will make very interesting reading
and see who ripped off who
and I think were were the rippees not the rippors (if those are real words but does get the idea.)
these are views
as I posted these are views
are you of the view that the cba did it because they were going to lose or was it to gain extra profit
oh did they make a loss last year I think not.
for me the sooner we have a royal commission into the banks the better
it should be the same as say the wood royal commission and I think the reserve should have to tell us all what information they were working on before they allowed smaller banks to be swallowed up
swan says he was working on professional advice well from who
and if it is shown that there was and I think there was no need to swallow up the smaller banks st george and bankwest then why did it happen and that intern allows the rises without any real reason to follow
the banks are the only people thats you sign an agreement where they may or may not fund you they can cancel at anytime an agreement
they can charge you any amount they think is ok for them.
and you have no way of challenging that movement except cancel the said agreement
you have no recoarse against the agreement and they can change it when they feel is fit and in the case of the cba
it was 5 mins before the end of a horse race and even there spokesman said on radio that before the race started he did not know they were going to raise the rate as I heard him on 2ue
so take advantage rip off or fleece which ever way you say it its the same
the banks and the bankers are taking the clients for a ride and have for a very long time and they do not seem to be changing that position
and as I said thats not just here or the US
when we have the facts around why bankwest and st george were allowed to be swallowed up I think that will make very interesting reading
and see who ripped off who
and I think were were the rippees not the rippors (if those are real words but does get the idea.)
these are views
Off the latest bit, I am sitting at the airport enroute to Vegas so I know a few people are there already... Thus I would recommend a Vegas beverage, and or catch up. I will be in work mode and slaving as is my 24/7 ilk and only planning to be there a week but PM me if you are there... Elvis wigs optional.
By the way, the problem with buying scummy places at the moment is that if you google what you could rent in Ohio for $700 a month, it isn't an MFR for $40k even at foreclosed properties....?? Obviously missing something but that is why I am not buying MFR's because for the first time I have seen the same family can rent an SFR for that price.. Bad credit or not... Of course I can't talk for Ohio per se but still....that leaves potential tenants of these properties as the crack dealers... Granted, they can probably pay great rent but if you have ever had a drug bust at such a property and they find a meth lab, the cost for housing your other tenants and the Hazmat clean up costs run in excess of 10k..... You probably don't want to know how I know that and fortuitously it wasn't me but still... And no, insurance doesn't, astonishingly, cover meth labs.
By the way, the problem with buying scummy places at the moment is that if you google what you could rent in Ohio for $700 a month, it isn't an MFR for $40k even at foreclosed properties....?? Obviously missing something but that is why I am not buying MFR's because for the first time I have seen the same family can rent an SFR for that price.. Bad credit or not... Of course I can't talk for Ohio per se but still....that leaves potential tenants of these properties as the crack dealers... Granted, they can probably pay great rent but if you have ever had a drug bust at such a property and they find a meth lab, the cost for housing your other tenants and the Hazmat clean up costs run in excess of 10k..... You probably don't want to know how I know that and fortuitously it wasn't me but still... And no, insurance doesn't, astonishingly, cover meth labs.
Best of luck with your trip, Emma.
We look forward to any future postings.
I have gone back near the beginning of the thread and re-read some of your earlier postings about buying in Vegas. At first I was unsure if this strategy would work for us when we start buying next year, but the more I have re-read the postings, the more I understand why you have chosen LV for your market.
It also seems as though you have let your properties fairly easily - after all, I just had a look today at the Section 8 website again, and there are almost 2000 potential tenants waiting for a home in Las Vegas/Clark Country! Wow - it's amazing to think that there is such a ready pool of tenants to pick from!
Are you planning on purchasing anything on this trip?
We look forward to any future postings.
I have gone back near the beginning of the thread and re-read some of your earlier postings about buying in Vegas. At first I was unsure if this strategy would work for us when we start buying next year, but the more I have re-read the postings, the more I understand why you have chosen LV for your market.
It also seems as though you have let your properties fairly easily - after all, I just had a look today at the Section 8 website again, and there are almost 2000 potential tenants waiting for a home in Las Vegas/Clark Country! Wow - it's amazing to think that there is such a ready pool of tenants to pick from!
Are you planning on purchasing anything on this trip?
hi emma
yes this is not your market and thats fine but i have yet to find a city that is made up of just meth labs nor for that matter every multi or unit development full of drug dealers
there are people that are not drug dealers or meth labs that do rent
you just have to check what you buy
and vegas maywell be a great place to invest in but its not the only one nor is it a utopia of investing.
and I don't think I will be working of the price of coak or for that matter this type of client.
for me right now I see a few areas that are alot better then vegas with alot a more people and be higher returns that does not say I would not look at vegas because we are but it not the only place
we are not looking at one house and thats why its a bit different way of looking at it
we have syndicated developments here and no we have not had a meth lab or for that matter a drug dealer network so am not sure why we should change our game plan now
as for the fire damage I think if the meth lab burnt the building down and it was arms lenght (Ie it was not your meth lab) then I think the insurance would cover have not checked but maybe I will
as for scummy places they do become trendy
paddo, darlinghurst, harrow(england) newtown
these place 25years ago you would not buy into now they are very expo and also a area of want not demise
but thats just a out look
hope you well
yes this is not your market and thats fine but i have yet to find a city that is made up of just meth labs nor for that matter every multi or unit development full of drug dealers
there are people that are not drug dealers or meth labs that do rent
you just have to check what you buy
and vegas maywell be a great place to invest in but its not the only one nor is it a utopia of investing.
and I don't think I will be working of the price of coak or for that matter this type of client.
for me right now I see a few areas that are alot better then vegas with alot a more people and be higher returns that does not say I would not look at vegas because we are but it not the only place
we are not looking at one house and thats why its a bit different way of looking at it
we have syndicated developments here and no we have not had a meth lab or for that matter a drug dealer network so am not sure why we should change our game plan now
as for the fire damage I think if the meth lab burnt the building down and it was arms lenght (Ie it was not your meth lab) then I think the insurance would cover have not checked but maybe I will
as for scummy places they do become trendy
paddo, darlinghurst, harrow(england) newtown
these place 25years ago you would not buy into now they are very expo and also a area of want not demise
but thats just a out look
hope you well
Rolf - well done for reading that far.
Grossreal - You simply seem to have no concept of what it is you are doing. You clearly have very little experience and it bothers me anyone would give you money to throw away. I hope the 1% chance I give you of success actually works out because I hate seeing people throw money away. FYI My broker may not know everything, but he does own 500+ units. I actually had a brief chat with him about that today. At one stage he owned more than 1,000 buildings (not units) and had actually built most of those himself. Since I first met him he has also become a best selling author. I trust his opinion because in 12 years he has done nothing but advise me faultlessly. He has been doing RE deals since the early 1970's.
Unlike many, I have put my OWN money where my mouth is and I know what I am talking about having actually done it and avoided the major pitfalls. I am very aware of my managing limitations. I simply am unable to manage a property in the US as well as I can manage one 15 minutes drive away. I know you cannot trust managers. I am buying stuff with a 5-8% cap for very sound reasons. In that I will not need handguns to collect the rent. From your photo (and I may be wrong) you don't seem the handgun/hangin' with the homies type. The people in my buildings can (mostly) afford to pay the rent and actually have jobs. The figures on the properties I am buying are genuine. etc etc. The 27sqm properties you speak of in Australia would have far better tenants any day of the week than some of my properties. The building I just offloaded had 8 units just about that size and primarily hispanic. Hispanics are relatively nicer -they don't want trouble as they are often illegals. And it was considered an 'up and coming area' - only one block away from one of my nicest buildings. Not bad at all on paper, but $40kpa in repairs each year plus multiple police attendences. Per week! It is a completely, totally different market to anything you have experienced in Aust. The fact you even mention that just reinforces how little you know about it. Get back with a comment when you have managed to own one of those properties you speak of in Cleveland (or wherever you find someone saying 'this has a 40% return') for a year at least. Until then I see you as dangerously and completely unprepared for what you are likely to come up against. I am all for risk and gung ho investing (without being arrogant I did this 12 years ago remember - what were you playing with then?) but I just do not see anything like a sensible approach in your attitude. A child like naivety and goggle eyes looking at extraordinary returns does not make you a good investor. Fools and their money...I'm sure there is a saying about that combination.
I have offered advice and assistance to many people over the years about this type of investing and I am very supportive of people trying new things. I just don't think you are approaching this with anything like the trepidation you should be.
I do mean it when I say Good Luck to you. I hope it works. I would like to be wrong. I am 100% certain your 'investors' would like me to be wrong too. I, however, will not ever be one of them.
Grossreal - You simply seem to have no concept of what it is you are doing. You clearly have very little experience and it bothers me anyone would give you money to throw away. I hope the 1% chance I give you of success actually works out because I hate seeing people throw money away. FYI My broker may not know everything, but he does own 500+ units. I actually had a brief chat with him about that today. At one stage he owned more than 1,000 buildings (not units) and had actually built most of those himself. Since I first met him he has also become a best selling author. I trust his opinion because in 12 years he has done nothing but advise me faultlessly. He has been doing RE deals since the early 1970's.
Unlike many, I have put my OWN money where my mouth is and I know what I am talking about having actually done it and avoided the major pitfalls. I am very aware of my managing limitations. I simply am unable to manage a property in the US as well as I can manage one 15 minutes drive away. I know you cannot trust managers. I am buying stuff with a 5-8% cap for very sound reasons. In that I will not need handguns to collect the rent. From your photo (and I may be wrong) you don't seem the handgun/hangin' with the homies type. The people in my buildings can (mostly) afford to pay the rent and actually have jobs. The figures on the properties I am buying are genuine. etc etc. The 27sqm properties you speak of in Australia would have far better tenants any day of the week than some of my properties. The building I just offloaded had 8 units just about that size and primarily hispanic. Hispanics are relatively nicer -they don't want trouble as they are often illegals. And it was considered an 'up and coming area' - only one block away from one of my nicest buildings. Not bad at all on paper, but $40kpa in repairs each year plus multiple police attendences. Per week! It is a completely, totally different market to anything you have experienced in Aust. The fact you even mention that just reinforces how little you know about it. Get back with a comment when you have managed to own one of those properties you speak of in Cleveland (or wherever you find someone saying 'this has a 40% return') for a year at least. Until then I see you as dangerously and completely unprepared for what you are likely to come up against. I am all for risk and gung ho investing (without being arrogant I did this 12 years ago remember - what were you playing with then?) but I just do not see anything like a sensible approach in your attitude. A child like naivety and goggle eyes looking at extraordinary returns does not make you a good investor. Fools and their money...I'm sure there is a saying about that combination.
I have offered advice and assistance to many people over the years about this type of investing and I am very supportive of people trying new things. I just don't think you are approaching this with anything like the trepidation you should be.
I do mean it when I say Good Luck to you. I hope it works. I would like to be wrong. I am 100% certain your 'investors' would like me to be wrong too. I, however, will not ever be one of them.
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Thank heavens Vegas isn't the only market, it would be a little disconcerting for my 15 years of investing and I don't think I have ever said it is the utopia.. Has turned out well, for me though.... Yes, always looking for yummy properties bevk....
Vegas is just in my mind the most likely to bounce back quicker and higher... Beautiful day here....lol
Vegas is just in my mind the most likely to bounce back quicker and higher... Beautiful day here....lol
I know exactly what your saying but you really have to know your stuff, and a few other people's stuff as well, to go down that road and get return in a reasonable timeframe.
Unless your ears are on the ground I dont think there's much chance as some places are worse now than they were 25 yrs ago.
Hi Grossreal, I just wish you could use full stops, commas and a few capital letters. All the other posts are easy to read. Yours are a bit of nightmare. It's like one long piece of string. Don't get me wrong, we're interested in your point of view.
Looking at this thread and then on Zillow, etc from a seat in Aussie is very difficult. I can't really see much in LV that appeals to my eye. Without looking into it, it looks like all the houses have very small blocks and very little grass. Other parts of the USA (Atlana, Georgia for example) the streets look more appealing to my eye and there's grass in the backyard.
No doubt there's also some cultural differences at work here and different replacement costs. Who in Australia or NZ would think of buying a tenant a fridge unless doing a fully furnished deal.
Just at the moment I don't have the time to fly to the USA and spend a few weeks narrowing down areas, to do due diligence. It's frustrating!
Looking at this thread and then on Zillow, etc from a seat in Aussie is very difficult. I can't really see much in LV that appeals to my eye. Without looking into it, it looks like all the houses have very small blocks and very little grass. Other parts of the USA (Atlana, Georgia for example) the streets look more appealing to my eye and there's grass in the backyard.
No doubt there's also some cultural differences at work here and different replacement costs. Who in Australia or NZ would think of buying a tenant a fridge unless doing a fully furnished deal.
Just at the moment I don't have the time to fly to the USA and spend a few weeks narrowing down areas, to do due diligence. It's frustrating!
Agree. Join me in reporting his posts until he writes like a human.
No lawn in Las Vegas because it's in the desert. Should usually follow the numbers in investing, not the aesthetics, right?
I'll do the research and the legwork if you provide the capital, deal?
hi melbman
you are not alone
you would be in the majority
and thats the problem
to buy one house is just not worth it
and to buy a few takes alot of time which people just don't have
so whats the answer
well thats not for a free to air board nor will it be.
as for the string some times you need a piece of string to find your way some where but thats off the point
most people have seen the opportunity they just can't take it up
they know they can make money
they just not sure where or how
and on top of that they have heaps of people trying to sell them inflatted property so we have taken a very different view
instead of buying the property invest in people that know the market and want to buy the property similar to a jv agreement
this takes out the issue of is it worth it
the people in that particular market know their market
and as such they know the returns as well
we seem to be looking at the USA market as reinventing the wheel
ie we buy the property and take on the risk
not my cup of tea
but all to their own
for me 70% of 1 dollar is alot better then 70% of a potential dollar
I saw some one say that some guru said do you want 50c now or 1 dollar in some time in the future and he would take the 1 dollar
I wouldn't unless I knew how long into the future
but I would take 50% of both or either for no money down
the USA market is very interesting
but from an investing point of view and thats not direct investing
oh an you can invest with smsf this way
ops unhuman of me not to add ....,,,,'''
you are not alone
you would be in the majority
and thats the problem
to buy one house is just not worth it
and to buy a few takes alot of time which people just don't have
so whats the answer
well thats not for a free to air board nor will it be.
as for the string some times you need a piece of string to find your way some where but thats off the point
most people have seen the opportunity they just can't take it up
they know they can make money
they just not sure where or how
and on top of that they have heaps of people trying to sell them inflatted property so we have taken a very different view
instead of buying the property invest in people that know the market and want to buy the property similar to a jv agreement
this takes out the issue of is it worth it
the people in that particular market know their market
and as such they know the returns as well
we seem to be looking at the USA market as reinventing the wheel
ie we buy the property and take on the risk
not my cup of tea
but all to their own
for me 70% of 1 dollar is alot better then 70% of a potential dollar
I saw some one say that some guru said do you want 50c now or 1 dollar in some time in the future and he would take the 1 dollar
I wouldn't unless I knew how long into the future
but I would take 50% of both or either for no money down
the USA market is very interesting
but from an investing point of view and thats not direct investing
oh an you can invest with smsf this way
ops unhuman of me not to add ....,,,,'''
GR types as he thinks. i take the effort to read it.
GR - i know why you want to use SMSF - because you don't have to quarantine the income to only pay 15% tax. you pay 15% tax there, and then the SMSF has a tax rate of 15% here - so no extra payable.
what worries me is ONLENDING your SMSF money, you "COULD' waive your tax treaty benefits on the return it generates and end up paying the going rate in both countries.
GR - i know why you want to use SMSF - because you don't have to quarantine the income to only pay 15% tax. you pay 15% tax there, and then the SMSF has a tax rate of 15% here - so no extra payable.
what worries me is ONLENDING your SMSF money, you "COULD' waive your tax treaty benefits on the return it generates and end up paying the going rate in both countries.
MelbMan, that what looks relatively unappealing to us is probably the norm for cities like Vegas. You can't expect properties with grass there, because it's going to take a lot of upkeep in the desert. I have visited Vegas a few times as I have a cousin who lives there. His small backyard is tastefully concreted/tiled with a pool in the middle - not a blade of grass anywhere.
Don't look with an eye that compares any overseas property to what YOU currently live in - we're all looking for passive income and there will be lots of families happy to live in some of the houses that we would personally reject.
I understand what you mean about cultural differences etc. My biggest surprise was this - we are moving to Canada next year and I discovered that when you purchase or rent a home, it comes standard with a fridge and often a dishwasher and washer/dryer. I thought it was fantastic that I don't have to go out and buy any of that stuff. Apparently that is standard practice there. In Oz, the standard is just to supply a stove.
These things probably vary from state to state - I've seen rentals in some states that do only include a basic stove - the tenant has to buy everything else.
Don't look with an eye that compares any overseas property to what YOU currently live in - we're all looking for passive income and there will be lots of families happy to live in some of the houses that we would personally reject.
I understand what you mean about cultural differences etc. My biggest surprise was this - we are moving to Canada next year and I discovered that when you purchase or rent a home, it comes standard with a fridge and often a dishwasher and washer/dryer. I thought it was fantastic that I don't have to go out and buy any of that stuff. Apparently that is standard practice there. In Oz, the standard is just to supply a stove.
These things probably vary from state to state - I've seen rentals in some states that do only include a basic stove - the tenant has to buy everything else.
Agree, but it's just as difficult as direct investing if not more as you
have to find those people.
Investing direct gives the feeling (true or not) that you are not relying on anyone else.
Your concept means trusting other people to do it for you.
have to find those people.
Investing direct gives the feeling (true or not) that you are not relying on anyone else.
Your concept means trusting other people to do it for you.
