There is a reason certain USA investors have been in business for years and still in business.
Originally Posted by speedy gonzales
Donna I don't know if investment in the USA has gone quite.....most likely all the companies trying to flog off cheap overpriced stuff have disappeared as people caught on to their tricks. You look at markets like Phoenix where prices of inventory have gone back to 2006 levels. Atlanta is heading the same way. There is simply no more "cheap" properties to flog off unless your investing in the hood. The biggest change has been Wall Street entering the real estate investment game. They are quite happy to get a 8% net return. They are turning up at foreclosure auctions with endless cheque books and bidding up prices. This is now happening in most US cities. So all of the spruikers who concentrated on markets where prices have now increased where they can no longer get appropriately priced inventory have no choice but to pick up and move on and probably concentrate on the small dying mid west cities.
What I have seen happening is the markets is being left to the more "above board" companies who operate ethically & with full disclosure. A lot of people felt they needed to have someone hold their hand through the process turned to all of these companies that all of a sudden had become US real estate experts overnight. The same sorts of companies who not that long ago were flogging off overpriced Gold Coast real estate. They operated with all the smokes & mirrors and made out like investing in the USA was a big mystery and they held the secret to your success and pay us a fee & we will tell you our secrets. Well the fact is that there is no mystery and all of the information they provided was available free if you knew where to look...plus they then pocketed a secret commission from the turn key company in the US on top.
To all potential investors...if you want someone to hold your hand and deal with someone you can trust then go to someone in the USA that is licensed by the applicable state authorities. Professionals Real Estate Group who operate in Australia & New Zealand also operate in the USA as Professionals Realty USA. EVERYTHING is fully disclosed to the buyer and all assistance is provided free of charge so why would you go through some of these USA expert companies who are not licensed in the USA to sell you real estate....they are just a middle man who collects a fee on your way through.
The real estate industry in USA has been making great improvements, though National averages doesn't mean that buying in any location would guarantee a good return, therefore any serious investor needs to do more research on best places to invest in.
Generally though the grass is getting greener.