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  1. #1
    Join Date
    Dec 2008
    Location
    North Shore
    Posts
    26

    Default Investing in USA Property

    Hi Guys,

    I was looking at buying another rental on the north shore but as you all know the prices are insane out there.

    I was talking to someone the other day and she mentioned she is looking into investing in USA residential property and it sounded like a good idea.

    I just wanted to know if anyone is currently doing this? I can see some houses are very cheap providing 9-12% returns.

    How does one structure, maintain and manage a purchased property like this from New Zealand? Is it safe?

    I am aware their market is at an all time low and will only ever go back up.

    I have heard of mortgage holders leaving the keys in the door, phoning the bank and telling them have the house back - we cannot pay the payments.

    Also allot of Americans have been flagged and unable to secure mortgages anymore so many are renting?

    I look forward to some advice.

    Thank you
    Al
    Last edited by donna; 21-08-2015 at 02:48 PM.

  2. #2
    Join Date
    Jul 2012
    Location
    Tavua, Fiji
    Posts
    3,347

    Default

    Nice false advertising there. What you meant to say is we market US property click our link.

  3. #3
    Join Date
    Dec 2008
    Location
    North Shore
    Posts
    26

    Default

    Quote Originally Posted by Damap View Post
    Nice false advertising there. What you meant to say is we market US property click our link.
    Dont think so buddy, not related to that company at all - I just read it today whilst researching this topic.

    I have spoken to a few of these invest companies and none can put me in touch with any kiwis that have dived into the USA market so if you have done so I really want to hear about your experience in doing it

  4. #4
    Join Date
    Jul 2012
    Location
    Tavua, Fiji
    Posts
    3,347

    Default

    I've been doing it for nearly 5 years. What do you want to know?

  5. #5
    Join Date
    Dec 2008
    Location
    North Shore
    Posts
    26

    Default

    Quote Originally Posted by Damap View Post
    I've been doing it for nearly 5 years. What do you want to know?
    Hey Damap,

    As per my post I just want to know who is doing it now and how have you structured it etc (PM me if you want)

    My mate said stay clear but it sounds like it could be a good idea if it isnt too hard.

    Have you sourced finance in NZ for them or in USA? did you setup an LLC over there?

    I guess I am looking for someone to say yes I have been doing it for a while and it is worth looking into, OR stay in NZ and stick to our crazy property prices.

    Cheers
    AL

  6. #6
    Join Date
    Jul 2012
    Location
    Tavua, Fiji
    Posts
    3,347

    Default

    It's not hard, any of the companies who sell in the USA can help you get set up. It's not too involved but you need good advice on which state to have your LLC, opting out of non resident withholding etc.
    You can get finance in the USA easy enough, interest rates are high initially.
    Overall as long as your intent is to hold a minimum of 5 homes or more it's worth doing. Not for the faint hearted though, nothing like New Zealand.

  7. #7

    Default

    Hi, I am from USA, Brooklyn in usa is the safe place to invest your money. madison property management is best investing a property in USA because its visitor place.

  8. #8

    Default

    Hi Damap,
    Im from Auckland NZ and have been thinking about investing in the states…..maybe memphis,atlanta…..
    What interest rates have you got for mortgages,how do you get finance?
    Thanks for any info.

  9. #9
    Join Date
    Jul 2012
    Location
    Tavua, Fiji
    Posts
    3,347

    Default

    Initially finance is hard money which is generally 12% and 5 points in fees.
    We have that down to 9% and 6 points now.
    I can get bank money at 4% now but it takes quite a while to achieve that. Lots of hoops to jump through.
    Atlanta is a tough city we pulled out of there quite a while ago.

  10. #10

    Default

    Thanks…..Whats your take on memphis then……Im really looking at cash-flow properties but unsure if this is the right city to start in?


 

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