US Property ( including struggle streets) are booming

I did this prior to buying in Atlanta

Also worth looking at US economy and how tax cuts are going to bring business back to US

 

I have friends in NYC and Minnesota. Squeezing a short trip in between would be great.

 

NYC we did this trip last year, great city

 

Thank you @larrylarry & @Eric Wu - it was a good first meeting indeed.
Yes, Detroit is definitely the hot postcode for anyone considering growth & cash-flow.
Hands-On property management is the order of the Day.
Not 'passive' AT ALL. That is the only downside.
We have just won 3 bids closing in the next 2-3 weeks. That should take us to property number 73 if all goes well. Happy to share details, but typical purchase price are in the 38-43K mark with about 4-8K Renovations. Should rent between 750-950 per month. All figures are in USD.
They are not your typical "Trophy" houses that drain money - they put your capital to work and earn your money instead!

Attached are some pics of the buy.

 

Thank you @MTR !!!

You are a real Good friend and early bird co-investor in the US that I hugely admire. Let us know what your next project is.

This is the one I was telling you about on the call - 17385 Warrington (University District) pictures attached.

Purchase - 72,000 (Oct 17)
Rehab - 13,000 (completed)
Revalued - 188,000
Comparatives are in the 250 - 300K range
However, I am putting this one on rent for 1000 pm. Will flip it on the high end of the market in about 3 years.

Pictures attached.

 

MTR, out of interest, how do you source contractors to do repairs? how do you check they wont do a dodgy, take your money and disappear?

 

Hard to source good contractors

business partner lives in US and is involved in this process he owns 179 properties he has contacts, significant advantage

Also between 2 partners spend at least 7 months in US per year

We also pay for external building inspection, qualified builder

Any major renovations/extension which require permits must get signed off by county/city and meet standards, electrics, plumbing etc..... you can not fudge dodgy work it wont get approved

MTR

 

Thanks for posting MTR, you're an inspiration and congrats and the success so far.

I am going to start looking into the US, hope you don't mind if I ask some questions along the way.

 

PM if you have any questions. Happy to help.

 

Thanks MTR

 

... Hello all. I'm new to this forum and joined on recommendation of others. Liking all the chatter about US investment and certainly lots who have found the winning formula here. I have 0 IP in US but interested to start, if not too late.

I figured the best way to start is to follow seasoned investors instead of reinventing the wheel. Are there any on here who runs a buyer group or would take baby investors in their wings?

 

There are a few of us that have dipped our toes in the water

Check out posts by:

@Be Developer
@GentleChief
@Karina
@Handyandy

I hope I have not left anyone off the list, just keep reading and learning.

 

You have accidentally left yourself off the list, @MTR. There, I've added back on.

The reason I asked about the buyer group thing is to gain economies as I start out with 1-2 properties. It makes sense that no good PM will pay attention to such small investors.

 

you will be surprised probably most investors will probably only buy 1 or 2.

I don't know too many investors who own more than 10



MTR