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What do you think about buying property in the US

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  • #31
    Where from, Dean?

    Saying Michigan is bad is like saying all Americans are fat. There are pockets in Michigan that represent, in my opinion, the best opportunities I've seen in the country. The devil is in the details - we're buying homes that sold for $180,000 to $200,000 for $40,000 US and renting them to very high quality tenants. If prices never go up a penny, we're fine - we're making a wonderful yield. But prices are already starting to recover.

    All markets over compensate. Michigan has an infrastructure that almost no other state has. There is a huge number of entrepreneurial businesses starting there and when it recovers you'll be blown away.



    • #32
      Yep I knew that, was just checking. You obviously know what you are doing. I have another friend cleaning up in Detroit too.
      Not for beginners or the faint hearted though :-)


      • #33
        Silent, I am glad to hear you are doing your due diligence of Michigan. Too often my home state gets a bad reputation, but there are a few factors that make investing there exciting:
        Property purchase price is so far below construction and rebuild cost you are buying things at such a bargain. From the sounds of it, you are buying newer construction (90's or later) and have multiple exit strategies.
        The economy is picking up there. The auto industry is strengthening in Michigan, and that usually results in a nice long term economic growth spurt in Michigan. It happened in the 80's the 90's and I believe it is happening again now
        New Government is also in place. With the new governor of Michigan I am optimistic he will bring more jobs to Mich. There have been some horrible tax laws in place for a few years in Michigan that drove businesses and jobs away. The new government is looking to abolish those taxes, which is very exciting.

        Let me know if I can help in anyway. I have moved my business to Indianapolis now because of that market being so exciting, but I have a ton of Michigan resources that if you need help, I could get someone on the ground there quickly for you. I moved over 700 properties in Wayne county and Detroit over the last three years, so I have seen most everything Michigan has to offer.

        Good luck my friend!!


        • #34
          Originally posted by mjmccabe76 View Post
          I found this site and it is a good read. It is very detailed, complete with stories about everything she went through investing in properties in the US. That includes both good and bad experiences.

          I'm just looking for other property investors out there who might be looking to invest in the US or have in the past.



          I am looking at investing in NY or northern NJ. I like Hoboken NJ


          • #35
            Phoenix pretty much what Dean has said. (Except i figured 800 a week - maybe i am missing something) Definitely 2 out of 10 at best are the safest deals.
            Market still dropping as we speak so the flips are real quick. Have the best team in place. be stuffed without them.
            Profits nothing like a year and half ago - lots of Canadians in the game there too.


            • #36
              Its a game for Canadians and Americans or Kiwis Investors who have serious knowledge as CK seems to on this forum.
              I'm from LA - I still own business and property in the US and unless you guys didn't notice - Millions of Americans lost their pants in property recently (They lived there and dont presume they were all fools and you somehow know more from down under)
              So unless you want to join them with your pant down, stay home or go live there for a while at least.

              What I find distasteful is NZer's who have little experience in the USA promoting the USA - And it would seem for quick money from the promotion itself.
              This is through trading property or these tours that seem to happen. May as well package it with some MLM or internet marketing and jump in the deep end with a blind fold.
              You do not need to go to the US to be very very successful in property.



              • #37
                Hi BJT,
                not really sure where you are coming from, Is it really those with serious knowledge that makes it ok ?
                In any market no matter what that market is, are there not those that have a lack of knowledge ?
                In all your time on business and property have you not made some coin because you had more knowledge than someone that did not have as much as you....?
                Yes there are the spruikers that prey on the unwary - selling uSA property at so called discounted prices to the suckers that believe them. I too have no time for these sorts.
                That is why i am in "gumboots and all" on the coal face.
                Yes one does not need to go the US to be successful in property - but what better way to see a great country while doing what one also enjoys...


                • #38
                  Hi Hec
                  For 98% of good people in NZ looking to secure their future with property they do not need step into the USA market. How do they get to do REAL due diligence when they know nothing of the place.
                  For those who do - then "gumboots and all" sounds like the best way to do it ... so good luck to you and have a great holiday!

                  Also - The guys that use their property guru profile to entice these people into buying US Cashflow deals are targeting people who cant get the gumboots to fit !! So they are vulnerable.
                  From what Ive seen its the same company and individuals that sold tax liens courses to the same people. Then sold them internet marketing course that by all accounts on the Stenning FB page got ripped.

                  Interesting as well that these same companies and individuals also seem to have sold NZ Property Developments and East coast sections that failed. So if they cant get it right just down the road, who gives them the right to suddenly be an area expert in Memphis!

                  Brosnan Taylor


                  • #39
                    HI BJT,
                    I guess it fair to conclude - bluster and bs is alive and kicking.
                    Recently i have been in contact with persons in another state that is setting up "turnkey cashflow" properties returning 20% or more......
                    They went a bit quiet on me when i started to ask about average maintenance costs for each property...... wonder why ?
                    all the best


                    • #40
                      Turnkey or Turkey!

                      I love the post earlier in this forum from Mr Letfus - "yep I knew that, just testing" So the US expert 'passed the test' ... I'm sure he will sleep easy now!
                      I didnt realize just how entertaining this site could be.



                      • #41
                        Just got this spam .. what do you read from it?

                        So this arrived in my in-box...

                        It looks like a fire sale of properties this spruiker is managing ...

                        Originally posted by email spruiker

                        Good day fellow....

                        ***Real ESTATE INVESTOR'S***

                        >>>Important<<< *Read EVERYTHING before contacting*

                        ***This is exclusively for buyer's of deeply discounted bank-ownedhomes to cherry pick or buy in Bulk quantities for rentals or house flips for profit***

                        I have in my possession our completed spring list of bulk and REO homes that I manage FOR SALE for jaw-droppingly low prices from us direct.

                        Believe me when i say that these prices cannot be beat or matched....Sound too much like a sales pitch or too good to be true well it's not cause it's the absolute truth, I've done my homework on this and Donald Trump himself would be hard-pressed to find better deals than this right now for residential/commercial bank-owned homes, matter of fact tell him to call me.

                        All properties must go....none can stay, all are 1,000's even 10's of thousands below value, so deep it hurts to sell them this cheap, these deals are going to put you in a trance because your eyes will not believe the prices that go along with homes that are now available!

                        Ok....You can either cherry pick individual properties from our list or buy in bulk REO'S.

                        These are literally--all joking aside $.10 to $.50 on the dollars covering most major metro cities and states across the U.S.

                        These homes are ready to be snatched up at rock-bottom prices $.10 to $.50 cents on the dollar, really, really cheap. For true deep discounts to all who have pen and check in hand and are ready to MOVE we have product for YOU.

                        And most importantly these are for true CASH purchaser's with CASH READY and closings within days for each home for sale.

                        *Great for new real estate entrepreneurs with backing from Banks
                        *Investors with the ability to pay CASH.
                        *Retirees looking for an extra home for vacation or getaway for less than a timeshare.

                        *Or someone wanting to fix and flip or add extra properties to there portfolio to manage and/or just find a great deal...period!

                        Property information including address to be given when Finder's agreement and NCND (Non-Circumvent, Non-Disclosure) forms have been filled out and returned to myself and/or my partner for review.

                        You can scan, attach, and email Finder's agreement and NCND documents back to us for approval. For Bulk Tapes of REO'S you will need to fill out our investor package before our customized tape will be released

                        To go forward with the transaction for the
                        property being purchased simply send an email with the title line Bank-owned Homes so I will know that you are serious,

                        And put a request in for All forms and documents for Bank-owned homes.

                        Upon receiving that I will send out straight way an email to get started on your path to financial independence or continue path towards wealth in real estate.

                        Here is a sampling of two states with cities we are presently managing liquidating bank-owned homes for:

                        1) Jacksonville
                        2) Ft. Lauderdale
                        3) Bonita Springs
                        4) Ocala
                        5) Boynton Beach
                        6) Lakeland
                        7) Bradenton
                        Newport Richie
                        9) St. Petersburg

                        1) Pittsburgh
                        2) Philadelphia
                        3) Allentown
                        4) Verona
                        5) Montross
                        6) Harrisburg
                        7) York

                        Many more.....here are all the states we cover:

                        ***PA, OH, GA, IL, TX, AZ, CA, MI, MO, IN, FL, NY, DE, VA, MD, WV, AL, NC***

                        In order to get more details about the properties listed please call or write requesting the Finder's agreement and the NCND to sign prior to viewing the list of properties.

                        I will guarantee you that it will be the best choice for cheap properties you may ever make, and you may put Wal-Mart and Costco to shame with your property ventures due to the drastically low price of the properties described

                        Please I cannot emphasize more do not hesitate to jump on these properties ASAP. These spreadsheets are fresh and will go very quickly and remember we can move as fast as you are willing to move.

                        So... by all means be smart you can make even more profits on your buy and hold and fix and flips for REO's and Bank-owned homes if you have CASH in HAND and are READY TO PULL THE TRIGGER ON INDIVIDUAL or MULTIPLE HOMES within our SPHERE of ASSETS.

                        WE MUST LIQUIDATE BEFORE THE SUMMER HIT'S to ensure our balance sheets look good and we have sold everything in our inventory that we have.

                        We are committed to bringing you the best deals and the smoothest business transactions with the odds tipped in your favor, it's a win-win for everyone. So get on board with us now and reap the rewards that you so richly deserve with some great deals for property hunter's who know the business and have POF in hand along with EMD ready forclosings.

                        Best of luck in Buying!!!

                        Kind Regards,

                        spruiker's name
                        spruiker's phone number

                        call/text/email anytime
                        spruiker's company name
                        spruiker's state

                        spruiker's facebook page

                        The only things in life you regret are the risks you never took--Grumpy Old Men!

                        If you do not want further emails send a return email with unsubscribe in the subject field and I will take you off my list.
                        Toss up for best hyperbolic line:

                        "Sound too much like a sales pitch or too good to be true well it's not cause it's the absolute truth, ... Donald Trump himself would be hard-pressed to find better deals than this right now for residential/commercial bank-owned homes, matter of fact tell him to call me. "


                        "so deep it hurts to sell them this cheap, these deals are going to put you in a trance because your eyes will not believe the prices that go along with homes that are now available!"
                        Last edited by PeterEmpowerEd; 30-04-2011, 04:08 PM.
                        Peter Aranyi
                        Blog: www.ThePaepae.com


                        • #42
                          Would like to discuss investing in NY state.Can you post your email and phone number so I can make contact.Nick


                          • #43
                            I would not invest in US property - I have just started a thread here - (umm did not see this one when I started this thread earlier today).


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                            • #44
                              Originally posted by donna View Post
                              I would not invest in US property - I have just started a thread here - (umm did not see this one when I started this thread earlier today).



                              Good advice Donna. I'm with you on this one.


                              • #45
                                Are there many property investors parking their funds in asian properties as US dollar continues to weaken again asian currencies? It used to be Singapore $1.70 to US$1, but it is $1.20 now. Many Singapore investors are looking to buy properties abroad due to govt curbs in my country on property speculation and the strong Singapore dollar. The current exchange rate and huge fall in property prices in the US seems to make investing in the US a very viable option for Singaporeans