US Does COVID-19 present opportunities in the US house market?

Discussion in 'Where to Buy' started by Lacrim, 13th Apr, 2020.

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  1. Lacrim

    Lacrim Well-Known Member

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    Last edited by a moderator: 14th Apr, 2020
  2. MTR

    MTR Material Girl Premium Member

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    Lol not yet

    there has been a hold on evictions and foreclosures till 15 April. In oz we have 6 months which is idiotic

    I have had to reduce rents in Oz

    No issues so far in US, touch wood all my rents came in this month. Hopefully will continue

    stimulus includes 3 months paid salary for those who lose their jobs and $2000 per couple and $500 per child

    business under 500,000 employees have opportunity to secure loans, cant remember how much, loans will be forgiven as long as employers dont put off any staff. Salaries for business’ paid for 3 months as part of package

    I think very much dependent on State

    Keep you posted
     
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  3. Illusivedreams

    Illusivedreams Well-Known Member

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    @MTR would you think it is a good time to invest in US in the next 12 months?

    I know you have invested heavily in Atlanta. If Atlanta takes a 30% hit would you recommend a first Tim US investor to look with this new margin of safety?

    Thank you for advice
     
    Last edited by a moderator: 14th Apr, 2020
  4. MTR

    MTR Material Girl Premium Member

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    Love Atlanta, but the issue is if you are buying with AUD its probably not worth it, its around 60 now

    I know US investors just watching and waiting for opportunities to jump into lower end markets
     
  5. Illusivedreams

    Illusivedreams Well-Known Member

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    What % drop would you need in the Atlanta for you to recommended as an entry point if the Ausdnis at 65 cents?

    I would look at the $100k-$200k property.

    Thank you again MRT
     
  6. MTR

    MTR Material Girl Premium Member

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    I would work on the net yield you require

    not sure really

    at the moment my $35,000 are now worth $200,000 usd which is about $320,000 aud

    so if housing market dropped 30% its still going to be too high entry point. Rents around $1500 per month usd

    i would work backwards yield you want??
     
    Last edited: 14th Apr, 2020
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  7. MTR

    MTR Material Girl Premium Member

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    Lenders are tightening up, still lenders out there but it will be harder to source finance, I expect this will impact on end values

    not seeing price drops yet, but its perhaps too early

    Commercial property will take a hit

    US States slowly moving to opening up, phase 1.
    More stimulus packages, trillions, mind boggles. Be interesting to see how it all pans out

    On a positive note.... this, US will be printing money if this infact is a goer

    Experimental drug 'can block' coronavirus and speed the recovery of patients
     
    Last edited: 30th Apr, 2020
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  8. ToBeFree25

    ToBeFree25 Active Member

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    MTR, do you managed to get loan on your property there ?

    can you help refer to some people that can do ?
     
  9. MTR

    MTR Material Girl Premium Member

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    I decided to actually not finance so all cash

    There are vendor finance deals, US investor in Atlanta

    for example $100k deal, you put in $30k, rent $1200 pm. i have been watching these, nothing juicy enough yet
    There is alot of slippage in US, no point buying unless the numbers really stack up well
     
  10. Biggbird

    Biggbird Well-Known Member

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  11. MTR

    MTR Material Girl Premium Member

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