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  1. #41

    Default Wake up and smell the coffee

    Quote Originally Posted by donna View Post
    Have you thought how communication like that may be taken on board by people viewing your posts given your status as a professional Ross?
    Well, given this earlier comment from (ahem) me:

    Quote Originally Posted by PeterEmpowerEd View Post
    Smells like get-rich-quick to me, Ross.
    Your enthusiastic epithets ('really helpful information', 'great benefit to investors', etc) are part of the sales machine for those USA 'bargain' properties in my opinion.
    If you honestly don't see that, you're being naive, with respect.
    I'd say it's a conscious choice, Donna.

    - P
    Peter Aranyi
    Blog: www.ThePaepae.com

  2. #42
    Join Date
    Apr 2010
    Location
    Waikanae
    Posts
    463

    Default

    I think you are showing symptoms of being a sly dog, Rosco, and I agree with Donna and PeterEmpowerEd.

    Your contributions to this particular thread are causing me to reassess posts you made on the thread about Flatfee.

  3. #43
    Join Date
    May 2007
    Location
    Hamilton
    Posts
    3,604

    Default

    I give up. I'm obviously not getting my point or information across very well, or get my point across as I intended. This will be my final post on this thread or the other US Property thread.

    I'm not suggesting that investors rush out to buy US Properties. I'm not suggesting that anyone buys a US Property through Massive Action or any other promotor.

    In my personal opinion, if investors are looking at buying investment properties in the future and they are looking for cashflow, then they should investigate and gather some more knowledge and information about US Properties as it is possible to obtain a much better yield. It is also possible to obtain a US Property that can repay your cash input and your loan in under 10 years, leaving you with a debt free investment.

    I would advise any investor to be extremely careful about investing away from area's that they know well. I know of investors from the North Island who purchased in Invercargill without seeing the property, and it ended up being right next to the sewerage ponds or plant. Obviously the US is a lot further away than Invercargill, so it is very difficult to become familiar with the area's, and these kind of risks are very real.
    The US also has different rules and regulations, different common practices, different currency and different terms that make investing in property in the US different to NZ.

    Two of the major risks as I see them are
    1) rent - making sure there is a tenant, they actually pay and that the rent is realistic and sustainable
    2) The US housing market/econonmy - What will happen to US house prices, the US dollar, unemployment and the general ecomony is a big guessing game. It is possible that the US dollar continues to devalue, and it is possible that the US house prices continue to decrease. If the US dollar was to devalue obviously any return coming back to NZ could be a lot smaller!

    If I was personally going to invest in the US, it would be with $30,000 that I could afford to lose. I also wouldn't try to "get rich quick", or "get rich overnight", instead I would only look at 1-3 properties and maybe be able to build up to an investment in the US over 10 years that was giving me $20k passive income per year. At this stage I'm still sitting on the fence and learning more.

    As previously stated I have never spoken to Dean (on phone or in person - including last night, where I didn't get a chance to talk to him). I'm not promoting Dean, Massive Action or their product. I'm merely interested in learning more about the US property market and rental investment opportunities. I have never received, (or are due to receive) any commissions or fees from Dean or Massive Action. I do not have any relationship with Dean (apart from a PM today asking for his email address so that I can get some more information), so I don't think I am biased, or in favour of Dean/Massive Action. I have nothing to gain from suggesting that property investors find out more about US Properties, except for small accounting fees (note US tax return would normally be done by US accountant, so only small work required to bring in US details into NZ tax return) if a client of ours was to purchase a US Property, and to my knowledge we have never been referred a client from Dean/Massive Action.


    I hope this clarrifies my position

    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.

  4. #44
    Join Date
    Apr 2010
    Location
    Waikanae
    Posts
    463

    Default

    Ross, I think you are a very good communicator.


 

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