US Property ( including struggle streets) are booming

Anywhere you'd recommend looking at for units or houses around the $100k-200k mark?

 

Hi CK, in the USA all real estate transactions are public, I'm not sure if I looked up propertyshark.com or streeteasy.com to look up the above but it its available everywhere.

 

I really like this feature.

When I was buying in 2011 it enabled to me check out who was a spruiker and ripping off investors, just check the sold price and how much they were marking up the property.

 

Atlanta hands down.

Been doing lots of research and this market still remains one of the best because of the fact that many businesses are moving their headquarters to Atlanta. I believe12 moved to Atlanta last year. Its cheaper for business to operate in this market as labour is far cheaper.

I predict ongoing growth because of the above factor but also because there is low inventor which keeps prices going up. Also the number of people moving to this State is soaring.

I have been continually increasing rents over the last 2 years, huge demand.

I expect you will achieve a far better result in terms of growth in this market, cash flow will be harder due to prices rising.

MTR

 

Hi

In Florida you can get mortgages at good rates (usually below 6%) for the first property. I prefer US property as no stamp duty, no land tax and cost of repairs is low. In Australia you are just hoping for capital growth as the cost of holding is so high - prices are so high. Why spend $1m to buy a 1 bed apartment in Sydney when you can buy rd 3-4 houses in US?

 

Hi

Yes Atlanta is good. Check also Florida- Orlando is booming. 1 bed apartments from rd $50-60K. 4 bedroom houses rd $200K. 6 bedroom homes rd $320K.

 

Hi, you can get rd 60-65% LVR in Florida. The Chinese are buying in places like NY, California, Texas and Florida. If looking at yields, then look at Texas and Florida. Florida can get up to rd 8-15% yields and no state tax. By the way, unlike Oz, there is no stamp duty, land tax and several have no state taxes either. Repairs in US are cheap.

 

Can you provide more information on the loans. The only loans I am aware that foreigners can source using conventional/banks is either for 1 property/holiday home or equity loan against assets/property at around 7.99%.

I have experienced far more growth in my US properties than in properties in Syd or Melb. Seems the growth will continue... low inventory

 

I hear the same story everywhere, even Detroit is now booming. I know someone who is buying up, still need someone on the ground for this market, not the faint hearted.

 

Hi

Yes there are a number of banks and community banks that will do the first home at a god rate and then charge higher for further homes. I have a contact

 

Yes, market has turned. inventory is down. But still much better than Oz. No land tax or stamp duty to start with.

 

We just bedded our commercial property in Atlanta, pretty excited, locked in a new lease and just suck up the cash flow... now to find another.

MTR

 

just looking at Detroit...it's a huge place. a browse of properties...boy very few of them have internal photographs. BRRR strategy is said to work, Buy Rehab Rent Repeat.

 

I know a few making it work, amazing market, but I guess not for the faint hearted. Perhaps Detroit is where Atlanta was in 2011..... prices set to soar. I hear the tenants are a different beast to those in Atlanta, makes Atlanta tenants look like little pussy cats...hehe.

I so admire anyone who can give this a go, there is gold in them there hills, just got to get the formula right.

MTR

 

For sure. Good chatting with @GentleChief who puts in nicely... needs balls of steel. LOL!

 

You kiddin' right...that is South Central...Crip/Bloody territory.....if you are chump you are goin' to get a cap in yo arr$e

 

Plenty of struggle Street investors on this forum ; a valid strategy, obviously not the only strategy....
Personally, I'd never consider that...partly because I'm a snob and work hard to not have to ever consider this stuff , partly because that's not how I roll, but mostly, as you said, because I don't want a bullet in my arRse..

 

We don't have many suburbs which would be dangerous are some suburbs in places like Detroit...Atlanta...LA....Chicago...St Louis.....people have no concept of how dangerous some of these US cities are....thus why nervous cops gun happy coppers.

 

GentleChief is the real deal, done well in US market

Yes same, but did he show you university princict properties now bank valued at 200k

Amazing stuff

 

Mind boggling. I now understand they whys. A trip is warranted.