The forum has been fairly quiet on US properties for a while, with indications that the right time to buy has long passed- especially in areas where forum members have been active (Atlanta and Las Vegas especially).
But there's still seminar presenters touting the advantages of US property, talking LLCs and tax liens.
While I have a good idea of what these people are probably trying to do, I'd be interested to know what people on the ground are seeing.
Atlanta
Prices are still rising, foreign investors still buying, homes owners in US now able to access finance, US economy improving.
All my properties rented, however the key for great cash flow is to keep long term tenants otherwise with every vacancy there are additional costs required, ie repainting etc. as tenants expect top presentation, in Oz we can rent anything out, totally different beast.
Has the ship sailed?? I believe so. I know investors who are buying with much lower yields, perhaps they are expecting to capture growth, perhaps possible as market still rising?
I have started bringing income/rents home as the Aus$ has dropped.
Overall its been good experience, only down side has been the fact that I have not been able to leverage my money in US and having to deal with Banks, IRS etc. their system is totally flucked.
I also know investors that are flipping properties in US, picking foreclosures at good prices, doing a minor reno and on-selling, still plenty of buyers out there.
Cheers
MTR
