Help! Buying in the US?

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paytown50

New Member
I'm new to this site and enjoying reading this thread. I thought I would chime in with my two cents.

1. I think the real key here in the US is to identify what your looking to accomplish. Are you thinking short term or Long term.....Fix and Flip or Buy and Hold........ Rent or Rent to Own (I could go on but you get the point)

2. Based on your answer to the above question you will then be able to pick an area of the country you want to invest in. It can be proven that certain areas of this country are more shall we speculative than others. I can recall living on the west coast and turning alot of deals into quick cash. I then moved from the west coast to the south and to be honest it's harder investing down here. You have to know what your doing. Buying right is of the utmost importance. Which brings me to my third point.

3. To be honest and I have seen post/ad's for places like Vegas,Oregon,Buffalo,Florida,Vermont etc etc etc in this thread

Its all about the team you build in the area you choose PERIOD!!!!!

I know of investors who have gone to Buffalo and lost everything I also know of investors who went there and made lots of money. Same for every city I listed besides vermont (which I know nothing about :)

Bottom line is you have to know that the team your working with can take care of you and the moment you doubt that you have to take control of your investments and find another team to do it.

Of course there are other things to consider but for a somewhat short post I just wanted to point out what I feel are the most crucial to your success when investing in the states.

I will say though if someone wants to debate the merit of areas to invest in the US based on where they are as it concerns the downturn of real estate values. May I suggest you choose areas that did not devalue at all but actually still gained value those cities must have something going right to make it through this downturn better than ever.
 
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beachdreamer

New Member
Palma Altas & Venetian Place Orlando

" The east side of Orlando has an abundant amount of business coming to the area and this brings people. The medical school at the University of Central Florida is opening in about 1 year, Biotech is coming as well, Florida Hospital is expanding in the area, Lockheed is located here... I could go on and on about how that area is superior to Four Corners/Disney area.

If you would like help or simply have question, I would be more than happy to help message me"

I'd welcome your advice on buying into the Palmas Altas development: approx $55k (for 2 bed bit more with garden) monthly long-term gross rentals of $700 to $800(apparently already tenanted). Net rentals about $450 after tax and HOA.

I'm told that these are good rental props (i.e. local working people) but also high likelihood of capiatal appreciation.

Venetial Place also a refurbished development:slightly more expensive and upmarket but apparently broadly similar rentals.

Welcome your thoughts.
 
KofiLGS

KofiLGS

New Member
There are also some good opportunities in Tampa and Miami for newer condo developments where prices are 50-60% of where they were when they were first built in 2005-2008.
 
KofiLGS

KofiLGS

New Member
heyyy .... nice post here.. here i found many things which i want... one more thing i want to ask.. Has anyone been able to negotiate a lower price with a moving company? In other words, are they willing to negotiate price ?
thanx in advance :smile:
You can always negotiate with the moving company.
 
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sugarmaple

New Member
Buying in US / Vermont

Good morning, I have read, with interest, your "two cents" [smile]. I concur, to a degree, that some some areas are more speculative than others AND I also believe that there are areas, such as, and more specifically Vermont, that is very overlooked and is absolutely worth considering. Vermont is, in addition to being a four-season state [major ski resorts/lakes/hiking/general tourism], there are several well-known colleges and universities -- expanding, needing additional housing and/or continued housing for their students, such as Vermont Law School. As well, there continues to be an influx of people who are moving to VT-primary residences: purchasing and renting as well as those who look for second homes--many around and on the ski resort land. Some of these owners use their houses part-time and rent them during a respective season, ski and/or summer. Also, with people moving here from NY/CT/MA and the like, they are also looking for the type of businesses, including restaurants that they had 'down country' --with a VT feel to them. This is another venue that is, too often, overlooked by restaurant companies - the population in many towns is certainly less than one would have in Boston, for example, or its outskirts; however, all things are relative.



I'm new to this site and enjoying reading this thread. I thought I would chime in with my two cents.

1. I think the real key here in the US is to identify what your looking to accomplish. Are you thinking short term or Long term.....Fix and Flip or Buy and Hold........ Rent or Rent to Own (I could go on but you get the point)

2. Based on your answer to the above question you will then be able to pick an area of the country you want to invest in. It can be proven that certain areas of this country are more shall we speculative than others. I can recall living on the west coast and turning alot of deals into quick cash. I then moved from the west coast to the south and to be honest it's harder investing down here. You have to know what your doing. Buying right is of the utmost importance. Which brings me to my third point.

3. To be honest and I have seen post/ad's for places like Vegas,Oregon,Buffalo,Florida,Vermont etc etc etc in this thread

Its all about the team you build in the area you choose PERIOD!!!!!

I know of investors who have gone to Buffalo and lost everything I also know of investors who went there and made lots of money. Same for every city I listed besides vermont (which I know nothing about :)

Bottom line is you have to know that the team your working with can take care of you and the moment you doubt that you have to take control of your investments and find another team to do it.

Of course there are other things to consider but for a somewhat short post I just wanted to point out what I feel are the most crucial to your success when investing in the states.

I will say though if someone wants to debate the merit of areas to invest in the US based on where they are as it concerns the downturn of real estate values. May I suggest you choose areas that did not devalue at all but actually still gained value those cities must have something going right to make it through this downturn better than ever.
 
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bob

New Member
Hi Guys, I have been over and bought a property NY state, can anyone help my with some advice on getting an IRS numbers & the right one ?
 
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Suzzie

New Member
Hey Bob. I know a company in Sydney who will do all your IRS forms 4 u for $650, I ended up buying a two family property off them, I would recommend them. Not too slick and a down to earth guy 0412 606 334
 
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karaman

New Member
Hi Guys, I have been over and bought a property NY state, can anyone help my with some advice on getting an IRS numbers & the right one ?
Hi Bob,

I would say that the easiest is actually just have the company and EIN (tax identification number) sorted by one of the online providers. It takes just couple of minutes and will cost you less than $300 for company creation and tax identification number etc.
At least that's what I did.
Cheers.
 
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DaveSmith

New Member
As a foreign investor I am not sure if you are planning on purchasing sight unseen, making a trip over or have someone local to where you are purchasing who you can trust.

If you sense anything wrong about the brokers, title company, etc. you are working with put on the brakes. Stop and have a discussion with the party or pull the plug on the transaction completely. Never begin to get emotionally attached to either the other party or the property you may be interested in purchasing. Bottom line it is a business decision.

Good luck...Dave
 
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kevtracey

New Member
Hi,

Per the other replies to your post, you need to do some serious research on your own. Do not get a company to do everything for you and the fact that you have this mindset is a little scary.

There are good deals out there, especially in markets like Florida. However, you need to do your due diligence and only consider properties you would live in yourself in the UK i.e. look at location, schools, avg. income etc.

Hope this helps.
 
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Anthony V

New Member
Investing in Florida is a very positive move, provided that it is done properly (nothing new here). I have numerous properties on the west coast, and find it very easy to manage from Australia. I have been investing there for a number of years now, and do it all from Aus.
There are a lot of ways to invest in property in the US. One form of investment is to not own the property, but you earn 18 percent return PA backed by the US Fed.
 
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Renee

New Member
I’m looking to take advantage of the weak dollar and falling house prices in the US.

I live in the UK and I don’t own any property anywhere, just rent. And as I don’t have a pension I really need to sort some kind of investment out for my future.

I’m hoping that I can find a company that will help me find, buy and let a place (one company does all) in maybe Florida (open to suggestions).

I’ve never done this before so any advice or contacts would be much appreciated! PLEASE!
Im doing much the same but am located in New Zealand How have you found thins so far?
 
changlee

changlee

New Member
At average, how much cost an apartment or a house outside of Chicago? Does anybody knows?
 
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USWP

New Member
With all the talk here about Florida, with both Negatives and Positives, it must be confusing for many as to where and what to do for the best.
Like most areas in the U.S. Florida has been hit really hard with foreclosures, but you have to understand why so many as it's not all due to everyone having hardships. There are many that just walked when their mortgage was much higher than the property was worth, many lenders using robo signing with false signatures to be able to get a foreclosure which is now becoming more and more illegal, and many judgements are being overturned to allow owners to stay.
Also, as Florida is a huge State, you can't just put it all in the same basket. With places like Tampa and Orlando, then breaking that down into local areas as well, you can get some terrific buys with as much as 70% from their 2006 valuation, and these are for luxury condos in beautiful complexes, with excellent tenants etc all in place.
But you also have to consider places such as Texas, where Houston is a great place with a huge ongoing population migration form other states, and some of the best high quality properties for again, much less that their true worth, with great tenants and property management in place. and there are other pockets of great investment opportunities in different states.
Yes, you have to do your due Diligence, but as many investors just don't have the time to research or go over there themselves, finding a good reliable service company that can do everything for the armchair investor, can pay dividends. again, you have to be comfortable with the company. you also have to have access to an expert US Tax agent or Accountant, so it's all set up properly.

I hope this is some Help.
 
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karenfulton

New Member
Real Estate rentals

I saw your question, it seems like you are looking to purchase vacation rental property? Is that correct? Just curious to your reason for vacation rental vs. living rental?
 
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AshleyJohnson

Banned
Montgomery AL property

A real estate agent can help you find a place to get a mortgage, but you want a property management company to manage your purchase, not a real estate agent.
 
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