Define 'Cheapie'

I'd rather spend that on 2 development sites here

 

Where?

 

Morphett vale or playford council

 

Sounds good, another subdivision and build, duplex or something else?

 

Have to see what comes up

 

I agree with the general sentiments... Sub 300k for a house and sub 200k for a unit... Which makes most of Tassie a cheapie

 

$39,000 is a cheapie, just purchased in USA.

Those Aussie houses are way too expensive, need to wait for another property crash

 

Hey MTR, grass always looks greener, but......

Well, not really, buying in the US at that price is like buying regional s here more or less, also different setup, think when dollar was high would have been a good time to buy, it will go down more (dollar), but the dollar change would be the big money spinner (buy you could also just buy dollars, much easier)

Look at major capital cities, I was thinking of moving there around 2000 and basically with a 2 hour commute to SF bay area houses were a million then. You wont get anything cheap in major cities with similar distance to CBD as Sydney I would not think, happy to be shown wrong though, as I have not looked at SF and surrounding property since 2000.

At that time a reasonable house near Vegas was 140k US , we were at 55c then, so do the maths

There is also a story I remember a few years back, aussie property guy decided to go there and build a portfolio, he self managed, got shot and killed trying to collect rent on one of his "cheapies", at least here they just bust the place up, who would want to manage angry, poverty line armed bogans ? probably make Ashmont look like a walk in the park ! lol

 

This should make @TMNT feel better.....you do not need a swat team with you !

http://www.news.com.au/world/us-lotto-winner-killed-aussie-landlord/story-fndir2ev-1226427830078

 

It is greener, tell me how you can generate $160k income pa from $540k investment. I don't buy in areas that won't stack up, it's that simple, read posts on SS on Atlanta by Karina and my posts on this subject.

I purchased 8 properties in Atlanta from 2011-2012 when Au$ was 1.09 and another property settling this week, 9 in total. I use funds from rental income US$ and I will continue to purchase using US $ from US income.

My properties are not in regional areas, they are in bread and butter areas in Atlanta no different to what I would buy in Australia.

I have been playing in US market for 4 years now and this strategy by far has out performed what I have achieved in Australia, not only CG but also cash flow.

I am a developer and I have purchased in early stages of the boom cycles in Mel, Syd and Perth, this requires more work, and % CG in US though lower entry still out performed OZ properties.

USA is just easy money for me, it's a no brainer, and the currency play is the icing on the cake.

Many bagged US when we were buying, I understand why because most were looking at inferior product in the hoods that were overpriced. On the flip side I now know many that have had success because they purchased the right product at the right price, no different to investing anywhere...homework, homework and then more homework

 

Wow and i thought i was cheap with $147K lol!
How much work does it need first? How much will it rent for?

 

it will require $8000 Reno and rent at $850 per month, this is a townhouse, as houses are now around $130k

Now convert $850 US$ to Au$ then it becomes very attractive and they are cash purchases from US rent.

 

Where in Atlanta are you looking now MTR? I've had clients + friends buy in Atlanta, Houston, Dallas and California - quite interesting markets.

 

Don't take this wrong.

I have been to Atlanta too, some really nice places - it actually impressed me, but I wont pretend to know the market, but I do seem too recall they were not cheap near the CBD, but yes, there was a crash and I know quite a few people bought there and has improved, I have a family member with one there. For myself, I am not there and wont put money over there, have no interest really as I feel the US has cooked it's goose. They are a litigious lot too.

Sydney and SF bay area have similarities, show me the cheap housing in the bay (and I will admit I have not looked), Sydney is not an inland city in the South, which Atlanta is, we also do not have the population.

So are you saying you bought at 39 k in a place in reasonable travel distance to CBD,, if yes, that is great.

If it is greener and working for you, then you can exit here altogether or not, but I do not think anyone should put our system down, sorry, I am a patriot

PS Part of what I am saying is people from the main popular cities are not moving to Atlanta GA, just like you can find cheaper housing away from Sydney.

 

Hi Corey

latest purchase Lithonia but I have purchased in Conyers, Dallas, Douglasville and Fayetteville. Basically southern part of Atlanta is where investors buy for cashflow.

North Atlanta is much more expensive, but they will not be cashflow positive.

MTR

 

you dont understand this market and should not compare australia to USA/Atlanta, close to CBD in Atlanta is the hood and you don't touch this stuff.

Land in Atlanta is cheap as chips unlike Australia, it's a different beast, comparing is a total waste of time and meaningless

I am an Australian investor and live in Australia, your comment referring to me "putting Australia down"?.. is totally ridiculous comment, we are talking property investing, re read my post.

MTR

 

Exactly - the US doesn't follow the Australian obsession of Inner suburbs = best, for the most part. This is facilitated especially from more relaxed planning laws - heck if you want to see what happens when you remove planning laws from a city in general, look at Houston. Complete decentralisation of employment hubs, to the point that almost half of Downtown/CBD is open lot carparks.

 

You like that WTF saying don't you. Seems edited out now.

Not sure why your upset, seems we are saying the same thing pretty much & I could not be clearer in saying I do not know the market there - (or care) & if others have no interest in doing what your doing, or if they think it is too risky, you do not need to get upset about it, you can do as you wish, absolutely you can.

All I also said was, if you think Australia is too dear & you want to do more in the US, then knock yourself out. I will assume wishing for a crash was a joke, but it is a poor one.

Cheers

PS Maybe thread should be, define an aussie cheapie Now, have we worked that out ? lol

 

Hey.... I think what MTR was writting about America was really interesting... since she reminded all of us how cheap the U.S. can be, i'm interested in it, but it does take guts to step out of a comfort zone and into something different.

Dabbler your tone sounds harsh on MTR, if it was intended to sound that way I don't know but it doesn't sound particularly nice. Sorry.

Cheap is all a perception of what you are used to. And thanks MTR for the reminder on the U.S. market again, I think its the first time I have read about it on this forum.

 

It probably does not sound so nice, I suppose when someone starts swearing and getting so frustrated, that is where the conversation heads, however I am not swearing or being rude, I am not even frustrated, nor worked up .... here is a smile to prove it

I can play devils advocate and can be very blunt, that is not a bad thing really, but it can ruffle feathers, so, I have said all I will on this, back to the thread.....

So do you now know what a "cheapie" is now @Gockie