'USInvest.com.au' - Anyone had any experience with them?

[C-mac]

I'm thinking of enlisting the services of a company called US Invest, who I've been engaging in dialogue with in recent months (perhaps Google them if you've not heard - I don't want to post the link as the forum masters might think I'm spruiking them or something).

Their services sound pretty good but I'm concerned about their having buying presence in only four US states. Unfortunately for me, Arizona is not one of them, which is the state I'm very interested in (for a whole bunch of other reasons).

The four states they deal in are ones that I'm either not convinced will make good investment areas (after some independent due diligence I undertook). I like the sound of Princeton but it could be outside my budget.

Anyone had experience with this company - good or bad?

 

[MTR]

I'm thinking of enlisting the services of a company called US Invest, who I've been engaging in dialogue with in recent months (perhaps Google them if you've not heard - I don't want to post the link as the forum masters might think I'm spruiking them or something).

Their services sound pretty good but I'm concerned about their having buying presence in only four US states. Unfortunately for me, Arizona is not one of them, which is the state I'm very interested in (for a whole bunch of other reasons).

The four states they deal in are ones that I'm either not convinced will make good investment areas (after some independent due diligence I undertook). I like the sound of Princeton but it could be outside my budget.

Anyone had experience with this company - good or bad?

Cameron McEvoy
www.propertyspectator.blogspot.com

Here is a link you may want to look at, buyer beware

http://www.propertyinvesting.com/forums/property-investing/overseas-deals/4345304

 

[mattnz]

There is a property that is referred to in the thread, in Atlanta. I saw the property when I was there and it was an average house in a bad neighbourhood.

For the same money, you could get a nicer house in a nice neighbourhood. There are better operators out there. While I haven't purchased through them as yet, I was really impressed with Select American Homes. Great service, really nice houses that I would be happy living in and at great prices. They spent a day driving me around Atlanta showing me great houses at amazing prices, like 10% of Sydney prices, in a city the same size. Very eye opening.

 

[handyandy]

Sounds to me like you are a paid salesman for this outfit and just trying to spruke them on this site.

Looking at your blog you have all this good stuff related to US market and research and now suddenly you are asking info about one of the biggest US property buying outfits. This outfit happens to predispose that their clients have no knowledge about the US market and they are ripe for the picking, which I am sure they do, to the best of their ability. That is, picking all the money they can out of their gullible Australian customers pockets.

If you are serious then follow the link that MTR has posted and read about some real experience with these people.

If after that you feel like you need someone to hold your hand through the whole buy in US process then there are many different groups and individuals who can assist.

Cheers

 

[starter]

There is a property that is referred to in the thread, in Atlanta. I saw the property when I was there and it was an average house in a bad neighbourhood.

For the same money, you could get a nicer house in a nice neighbourhood. There are better operators out there. While I haven't purchased through them as yet, I was really impressed with Select American Homes. Great service, really nice houses that I would be happy living in and at great prices. They spent a day driving me around Atlanta showing me great houses at amazing prices, like 10% of Sydney prices, in a city the same size. Very eye opening.

Is this Karina's company? I had the same impression of them as well (even though I haven't purchased through them), very professional and seemed to have the client's interest at heart.

 

[mattnz]

Is this Karina's company? I had the same impression of them as well (even though I haven't purchased through them), very professional and seemed to have the client's interest at heart.

Yes it is, have met her and her team in USA and was very impressed with both. Nothing was too much trouble and really impressed with the benchmark of the types of properties they would purchase. Not at all a volume operator, but rather very selective of the best properties at great prices for their clients.

They were one of 3 such companies I met with in Texas and Georgia and were the best I dealt with.

 

[MTR]

Yes it is, have met her and her team in USA and was very impressed with both. Nothing was too much trouble and really impressed with the benchmark of the types of properties they would purchase. Not at all a volume operator, but rather very selective of the best properties at great prices for their clients.

They were one of 3 such companies I met with in Texas and Georgia and were the best I dealt with.

mattnz
I purchased 8 properties in Atlanta
Here is one, when I started purchased about 18 months ago I was buying somewhere around $37K-48K, you can double that now, so yields are just not attractive anymore, that is why I stopped buying

http://s1178.beta.photobucket.com/u...rt=2&o=0&_suid=135539204951709814877217184905

 

[mattnz]

Yes, some of the deals they were getting before the hedge funds arrived were unreal.

 

[Nigel Kibel]

usa Marketing companies

I think that if you are going to invest in the United States it is important to do your research very carefully. The least you should do is at least on the first occasion travel to the United States and meet with the people you are going to work with on the ground. Then you can do your due diligence and get a feeling whether this is the right company or not.

There are many Australian companies that are selling US properties that have not been to the US and have not met the people they are dealing with. Remember its your money.

 

[Ideo]

They have been calling me up a fair bit. Cold calls.

I was driving the first time so I was bored and had a good old chat. Mistake.

I had to get quite angry at them to make them stop calling.

I don't think they are a scam in the true sense as they do appear to deliver what they promise. They just massively overcharge for it.

And Bruno, if you are reading this. Stop calling.

 

[MTR]

They have been calling me up a fair bit. Cold calls.

I was driving the first time so I was bored and had a good old chat. Mistake.

I had to get quite angry at them to make them stop calling.

I don't think they are a scam in the true sense as they do appear to deliver what they promise. They just massively overcharge for it.

And Bruno, if you are reading this. Stop calling.

I believe many of these companies are scammers, they all provide finance, but don't tell you that you infact are funding the deal because you are paying perhaps as much as 3-4 times what the property is worth.

I call this scamming.

Cheers MTR

 

[VYBerlinaV8]

They have been calling me up a fair bit. Cold calls.

I was driving the first time so I was bored and had a good old chat. Mistake.

I had to get quite angry at them to make them stop calling.

I don't think they are a scam in the true sense as they do appear to deliver what they promise. They just massively overcharge for it.

And Bruno, if you are reading this. Stop calling.

I once made the mistake of talking to a cold caller who wanted me to invest in Hong Kong horse racing. I explained that I was inconvinced that the risk I was taking was justified by the returns, given that no actual assets were involved.

I should have just hung up on them. That's what I do now.

 

[speedy gonzales]

I'm thinking of enlisting the services of a company called US Invest, who I've been engaging in dialogue with in recent months (perhaps Google them if you've not heard - I don't want to post the link as the forum masters might think I'm spruiking them or something).

Their services sound pretty good but I'm concerned about their having buying presence in only four US states. Unfortunately for me, Arizona is not one of them, which is the state I'm very interested in (for a whole bunch of other reasons).

The four states they deal in are ones that I'm either not convinced will make good investment areas (after some independent due diligence I undertook). I like the sound of Princeton but it could be outside my budget.

Anyone had experience with this company - good or bad?

Plenty of negative comments about them on propertyinvesting.com forums. I'm curious.....why Arizona ? It's seems to be a market that has seen prices go back to pre 2006 levels since the hedge funds moved into town.

 

[C-mac]

Response to Thread

Sounds to me like you are a paid salesman for this outfit and just trying to spruke them on this site.

Looking at your blog you have all this good stuff related to US market and research and now suddenly you are asking info about one of the biggest US property buying outfits. This outfit happens to predispose that their clients have no knowledge about the US market and they are ripe for the picking, which I am sure they do, to the best of their ability. That is, picking all the money they can out of their gullible Australian customers pockets.

If you are serious then follow the link that MTR has posted and read about some real experience with these people.

If after that you feel like you need someone to hold your hand through the whole buy in US process then there are many different groups and individuals who can assist.

Cheers

Hi Handy Andy,

Cameron McEvoy, aka Propspectator here (I have a second profile that I alternate between on here).

Thanks for your feedback. You made me chuckle that you thought I'm in sales or working for one of those outfits! I'm not, dude.

My blog has been going for about a year and a half and if you'll check out my linked in profile you'll see that I'm just a regular schleb who works in media, not property, but have a massive interest in it. I blog about all kinds of topics that as a novice investor, I'm interested in, myself. They vary from sharing tips/tricks about Australian property investment, to looking at different markets, to looking at trends, tools, etc. I also contribute to API magazine and Property Observer, so you can check out some of my stuff there too.

Sorry I just wanted to have a chance to respond to you so that my reputation isn't tarnished. I just don't want other peeps in the propertycommunity thinking I'm affiliated to any group or company - I'm not.

Anyways, on the US, I've shopped around about 6 different companies/shops now, and still haven't bought any property myself. I guess I'm just looking for advice on (any) of the shops out there who are selling it, and hearing of positive/negative experiences (of course, they ALL say their clients only have positive experiences.. but it's not like they'd openly publish the negative ones on their sites anyways, right?)?

 

[truthbetold]

The four states they deal in are ones that I'm either not convinced will make good investment areas (after some independent due diligence I undertook). I like the sound of Princeton but it could be outside my budget.

Anyone had experience with this company - good or bad?[/QUOTE]

Yes, I have lived in two of the locations they sell in. To be frank and honest, the areas used to be middle class african american neighborhoods. That's why the houses look alright in photos. Do a drive by in google. The manufacturing and industry jobs have left and there is a huge sucking hole in these suburbs which will not heal.

Unreliable renters are all that is left, in addition, they are quite segmented in these cities, so in entirely african american suburbs other ethnic groups will not rent there.

1 surefire scam alert is how they are marketing the opportunity to obtain a visa for your entire family "to live the American Dream" if you buy a home through them, invest $500,000 in a company "they manage" and then live in the "hood".

The sad thing is that this is an AUSSIE company that is selling houses to unsuspecting investors. They do everything so you cannot sue them. Eventually, to sell in these suburbs, it will take ages. DO NOT RECOMMEND.

 

[MTR]

.1 surefire scam alert is how they are marketing the opportunity to obtain a visa for your entire family "to live the American Dream" if you buy a home through them, invest $500,000 in a company "they manage" and then live in the "hood".

The sad thing is that this is an AUSSIE company that is selling houses to unsuspecting investors. They do everything so you cannot sue them. Eventually, to sell in these suburbs, it will take ages. DO NOT RECOMMEND.

Thanks for sharing.

There's a sucker every day of the week.
"Living the American Dream", what's that??,ecomony is recovering but still has a way to go.

I think I would rather be living the "Australian Dream".

 

[handyandy]

Thanks for sharing.

There's a sucker every day of the week.
"Living the American Dream", what's that??,ecomony is recovering but still has a way to go.

I think I would rather be living the "Australian Dream".

Having a gun on your hip!!!!

I am over in the US at the moment and was in Home Depot - started conv with a white dude who was looking at some guttering (as you do). Anyway conv proceeds and it turns out this guy has a gun in a holster under his tshirt. Tells me he doesn't have a clip in it as he doesn't want to shoot himself but clip is in his pocket.

Been doing a mini survey since and most people (including the pest (white) and yard guy(african)) have a hand gun at the least in the glove box of their car.

what's more surprising is their reaction to my incredulous expression.

It's another world and I certainly would not ever want Australia to get as bad.


Cheers