QLD I have $40k cash saved, $180k pre-approval

If you are after cash flow in US the horse has bolted, as property prices have recovered from the crash of 2007.

However, just about every State in USA is booming, our land purchases have doubled in 12 months. The houses well we are achieving 40% profits, but these are flips which require renovating and need to secure these at the right price.

The holding stock for cash flow is really about buying either multi units or commercial. Unfortunately you wont find $35,000 properties anymore, not even in Detroit, which is probably one of the hottest markets in US at the moment, no/low stock.


MTR

 

Is that AUD or USD?

 

USD

 

Id avoid it, too many troubles. Doesn't cost much more to get the next LGA down.

 

@D.T.

Avoid getting married? or avoid buying in Elizabeth?

And what does "LGA down" mean? Sorry. I'm kinda new....so I don't know what the acronyms mean.

 

You're really scraping the bottom of the barrel with a $200k~ budget, but there are some genuine options in the outer north of Brisbane. Eg.
7/39 Harvey Street Strathpine Qld 4500 - Unit for Sale #124675374 - realestate.com.au
153/11 West Dianne Street Lawnton Qld 4501 - Townhouse for Sale #125934734 - realestate.com.au

I bought a house in Strathpine which I've lived in for the past 9 months, and it's not fancy at all, but it's nice and quiet (apart from the odd bogan hoon), and has good amenities. There's heaps of shops all down the Gympie road strip and Brendale industrial estate, good rail, and the Petrie University campus going in up the road.

My cousin also owns a unit in Lawnton with his wife, and he said he's never had trouble renting it out. But I'd definitely try and get a house on land if I was going to buy in that area, and that means $350k plus. So as others have recommended, you should find a way to get that extra money.

 

What's involved in terms of buying structure and cost associated with buying in USA? I have the impressions to be profitable one would need to buy several?

 

An LLC set up will cost around $1000 using US property lawyer.

Yes, you would want more than one property in US.
However, my g/friend had enough cash to buy 1 property in 2011 for $40,000, its now worth $150,000. Worked for her at that time. . Buy and hold strategy wont work today unless you renovate/flip, or you buy somehow well under market value, to achieve this you will probably need to be buying at auctions or prior to hitting the market

 

180k pre-approval? property is overrated.

 

Hey RR, we did OK,

 

Right, Now your talking my language