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  1. #21
    Join Date
    Jun 2005
    Location
    auckland New Zealand
    Posts
    5,236

    Default

    Depends on the company Speights. With a genuine turnkey provider there is only them between the investor and the property. They buy in foreclosure, reno themselves and sell to investor. They all have to be licensed agents in the US to onsell so have a 3% fee built in to their price which they pay to a sales agent or other marketer.

    There are different models where people are in my opinion shafting investors by adding huge margins onto cheap deals by actually buying the properties themselves and then onselling. They are common in Aussie and several are currently being investigated by ASIC. The most common areas for this nonsense that I have observed in Oz and Asia are Florida and Michigan.

    A true cost plus turnkey provider should put a property into an investors hands at anything from 20 to 50% below current retail.

  2. #22

    Default

    Quote Originally Posted by [email protected] View Post
    There are different models where people are in my opinion shafting investors by adding huge margins onto cheap deals by actually buying the properties themselves and then onselling. They are common in Aussie and several are currently being investigated by ASIC.
    Thanks Dean.

    It will be interesting to see what type of companies the SFO has in their sights here.


    SFO faces finco maze

    McArley signalled the "direct property" sector would be the next hunting ground for investigators.

    http://www.stuff.co.nz/business/indu...ces-finco-maze

  3. #23
    Join Date
    Nov 2007
    Posts
    1,067

    Default

    Quote Originally Posted by [email protected] View Post
    Depends on the company Speights. With a genuine turnkey provider there is only them between the investor and the property. They buy in foreclosure, reno themselves and sell to investor. They all have to be licensed agents in the US to onsell so have a 3% fee built in to their price which they pay to a sales agent or other marketer.
    Dean, Do alot of these 'direct' guys add a margin as well as the 3% fee they have to pay to a sales agent or other marketer?

    I realise that each situation will be differentb ut can you give us an example of what is a "huge" margin?
    Last edited by outspoken; 23-05-2011 at 09:04 AM.

  4. #24
    Join Date
    Jun 2005
    Location
    auckland New Zealand
    Posts
    5,236

    Default

    Outspoken, in some markets like Florida where there are so many foreclosures I am aware of people buying condos for let's say 20K and selling them on at 50K. Plus in some cases charging large fees to teach people how to invest in the USA on top.

  5. #25
    Join Date
    Aug 2003
    Posts
    7,610

    Default

    So how did the event go Ross or another attendee? Was there lots of interest from the local PIs?

    Cheers,

    Donna
    PropertyTalk Blog - property articles

    BusinessBlogs - the best business articles are found here



  6. #26
    Join Date
    Jun 2005
    Location
    auckland New Zealand
    Posts
    5,236

    Default

    it's not till later in the month Donna :-)

  7. #27

    Default

    Hi there,
    I am interested to know a bit more about investing in the US.
    Is the speaker coming to Auckland by any chance?

    Warmest regards,
    Katherine

  8. #28
    Join Date
    Aug 2003
    Posts
    7,610

    Default

    read this thread Katherine for starters

    Cheers,

    Donna
    PropertyTalk Blog - property articles

    BusinessBlogs - the best business articles are found here



  9. #29
    Join Date
    May 2007
    Location
    Hamilton
    Posts
    3,586

    Default Looking forward to tomorrow night

    I'm looking forward to hearing what Dean has to say about US properties.

    In my opinion business and property is all about gathering information, and this is a great opportunity to gain some more knowledge on this topic.

    I think it is good to be open minded and listen to a range of people about the topic, but also not to get sucked in to the hype and glammer of something.

    Waikato Property Investors Association have Dean Letfus talking to us about the US residential property market. Dean will talk about the whys and hows of investing in the US residential property market, what he is investing in & some valuable information for anyone wanting to start investing here. Meet Wednesday night 15th June 7:00pm for a 7:30pm start at the Hamilton Workingmen's Club at The Pavillion.
    Extra: This will cost $30.00 to enter for Non WPIA members
    www.waikatopia.org.nz
    More Profit from Property? TEACH ME MORE
    Ross Barnett - Coombe Smith Property Accountants
    Proud to give the best property advice for over 13 years.

  10. #30
    Join Date
    May 2007
    Location
    Hamilton
    Posts
    3,586

    Default

    Hi Katherine,

    As I mentioned in my email, it is probably best to PM Dean direct about Auckland events.

    I would suggest you read the thread Donna has linked, and any other information you can get about US properties. I think it is important to gather information from a variety of sources, then make your own informed decision.

    I personally don't know enough about the US property market to go either way, so I'm currently sitting on the fence and watching with interest!

    Good luck

    Ross
    More Profit from Property? TEACH ME MORE
    Ross Barnett - Coombe Smith Property Accountants
    Proud to give the best property advice for over 13 years.


 

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