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  1. #31
    Join Date
    May 2008
    Location
    Torbay, Auckland
    Posts
    3,923

    Default

    Quote Originally Posted by partya View Post
    Matthew Gilligan?

    Apparently he has 70+ in the US....
    I have been getting emails from Dean Leftus in Memphis, and Mathew did a trip to Memphis in May.
    So I assume they are working together.
    And I reckon they have picked the bottom of that market beautifully.
    Buying when no one could sell houses at crazy prices, and picking up yields in the 25% region I believe.

    And someone else was buying in the states as well, cant remember his name.
    But the key was area knowledge of course and not buying in bad area's.
    Looking at house prices these last three months in the states, looks like they are coming back quite nicely

    If Mat has 70 houses in the states he has just become a very very rich man.

  2. #32
    Join Date
    Apr 2006
    Location
    Auckland
    Posts
    406

    Default Reply Bluekiwi

    Quote Originally Posted by Bluekiwi View Post
    I have been getting emails from Dean Leftus in Memphis, and Mathew did a trip to Memphis in May.
    So I assume they are working together.
    And I reckon they have picked the bottom of that market beautifully.
    Buying when no one could sell houses at crazy prices, and picking up yields in the 25% region I believe.
    If Mat has 70 houses in the states he has just become a very very rich man.
    Hi Bluekiwi,

    It is pretty obvious that teh USA is a good market when you spend time there. A strong Kiwi exchange makes for FX gains, a devalued housing market driven by a banking crisis has led to deep discounts. And the yields are great where net income after expenses but before interest are at 12-15%+.

    This week I have 57 (not) houses up there with a mixture of debt and equity. This number changes weekly as I buy and sell houses.

    Im not a rich man, but I'm trying hard to behave like one in the hope that happens one day I buy and sell houses and I have some houses that I hold in various joint ventures or outright as private assets. I have lots of Kiwis buying houses off me at present.

    Im not working with Dean Letfus, though I talk to him. He is selling property to some kiwis and I understand making more of a living selling houses to big hedge funds which are driving the market in Memphis.

    I have nothing to do with Kerry Christian anymore before anyone asks, Kerry also sells houses up there.

    In summary I am on my own up there, from a Kiwi perspective. I have set up a management company however (Tennessee Property Management LLC), to manage my properties because the key to USA property is management. I have my own team so now I can control the service my tenants get the do my own rehabs, etc.

    This USA venture has nothing to do with GRA, it is a private company owned by one of my Trusts.

    I do run workshops on investing in the USA if anyone is interested. Go to teh GRA web if you are and look In Seminars / Events.

    Hope that makes sense.

    Cheers

  3. #33
    Join Date
    May 2008
    Location
    Torbay, Auckland
    Posts
    3,923

    Default

    Mathew how has Memphis gone for you ?
    Paul Magill B.com
    Bluekiwi Property Consulting


 

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