exnzpat buys a rental!

[Michael_Anger]

how do you actualy manage to find a deal so good 50% of purchase price over lower at times baffles me. i thought the real estate agents have covered all the goodies.im serious because that is the actualy $ making point of the whole deal.

Hi Quest (and other curious readers),

I'm actually investing quite heavily in the US myself, and the main thing is that you have to adjust your mindset completely. I started property investing in NZ, then moved to Canada (where I'm originally from), and now I'm investing in the US -- though not living there -- so I've experienced the differences in all three markets.

In very, very brief summary of a much longer post I had just prepared and "timed out" -- yes, it can be done... but unlike *some* may say (...or sell...), it definitely comes down to:
a) local knowledge
b) due diligence
c) having the right connections on the ground
d) having reliable management ability to be able to handle the property

The "sign on the street" foreclosures are not the ones you want. They're overpriced. You can be sure that every property investor within 100 miles of it has looked at it on the day it was listed and turned up their nose for one reason or another.

Might post more on this later if there's any interest. Want to know more -- PM me and we'll talk about starting a new thread to FAQ's.

Michael

[Tan]

go here

http://www.propertytalk.com/forum/fo...t=postusername

The New Threads button is just like the Post Reply one here, above the top left of the main part of the screen, just below where it says "follow PT on twitter".

Good luck, just keep looking once you are on the right screen.

[quest2]

lost

i went up i dont see a new thread button. im new to blogging.

[Monid]

Hi quest2

You'll probably get a much better answer if you post that kind of question as a new thread. Drop back a level to the top level of the "Property Investment (NZ)" forum, and click on the New Thread button towards the top of that screen.

Moderator-type people: would it be possible to get a "New Thread" button added on every page inside a forum? It's a while since I started a new thread and I had a bit of fun finding the button.

Hi One
Good suggestion, I've raised it with the technical people.

David Hunter
PT Mod

[One]

Hi quest2

You'll probably get a much better answer if you post that kind of question as a new thread. Drop back a level to the top level of the "Property Investment (NZ)" forum, and click on the New Thread button towards the top of that screen.

Moderator-type people: would it be possible to get a "New Thread" button added on every page inside a forum? It's a while since I started a new thread and I had a bit of fun finding the button.

[quest2]

so its a matter of vigilance in going through the net, pamphlets, news papers. so lets say a great deal for every 100 houses would that be the case.so its a numbers game theres no technique?

[tricky]

He was predicting the demise of Propertytalk by this year, wasn't he?
Maybe this is his way of not having to face up to being wrong.

[Jumpin]

We could play the find-expat game. he hasn't been heard of since this story but I find it hard to believe he's left PT. So ... which newbie is he?

I think his real name is Clayton something. He will be out of circulation for a while I think...

[Tan]

This example was in USA, and the prices have dropped more there. Although if you looked long & hard enough, you'd no doubt find one almost anywhere.

[quest2]

how do you actualy manage to find a deal so good 50% of purchase price over lower at times baffles me. i thought the real estate agents have covered all the goodies.im serious because that is the actualy $ making point of the whole deal.

[Heg]

OMG!!!

I just got back from my sisters house in Toronto Canada yesterday and I can’t believe this!

When I was there in Toronto, on the American news last week, a man murdered his family in Buffalo, New York (its right across the lake from Toronto). He was found hiding in the attic where he had been for at least a week. The man had blinded himself by ripping his own eyes out, and get this -- he had been living off the family pet!!!

Could this be the same guy???

Post the news article. I'd love to read it

[Bluekiwi]

OMG!!!

I just got back from my sisters house in Toronto Canada yesterday and I can’t believe this!

When I was there in Toronto, on the American news last week, a man murdered his family in Buffalo, New York (its right across the lake from Toronto). He was found hiding in the attic where he had been for at least a week. The man had blinded himself by ripping his own eyes out, and get this -- he had been living off the family pet!!!

Could this be the same guy???

Yes Expat it is, but at least you still have internet access in the atic...

Dont worry we will send you another dog in a weeks time.

[Arowhena]

OMG!!!

I just got back from my sisters house in Toronto Canada yesterday and I can’t believe this!

When I was there in Toronto, on the American news last week, a man murdered his family in Buffalo, New York (its right across the lake from Toronto). He was found hiding in the attic where he had been for at least a week. The man had blinded himself by ripping his own eyes out, and get this -- he had been living off the family pet!!!

Could this be the same guy???

[muppet]

Nothing new on his blogspot since 28 June 2009.

[Tan]

He may have split his personality a while ago.....