America is having the biggest real estate sale in history. It’s fair to say with these bargain basement prices, we’re not likely to see deals like this repeated for generations to come. The US home property market is that good right now. So good in fact, that I’m one of those Aussies that has jumped on the bandwagon and invested in five US properties myself.
However, time may be running out. America is one of the most dynamic and powerful economic nations in history and an economy like that won’t lie down forever. The real estate market is already showing early signs of recovery. The great news is that you don’t need to be an American to buy American property. You don’t even need to set foot in America to buy property.
Of course, purchasing property overseas, sight unseen, can be daunting – and it should be. Demographic and economic factors need to be considered and understood before buying US property. Unfortunately, a plague of companies that don’t have a clue what’s happening at a city by city level can become a trap if you don’t do your due diligence first. You need professional investment property advisors who truly know the game and can provide you valuable insight on US real estate, whether you plan to purchase property seen or unseen.
Since many operators are springing up in an attempt to make quick money from unsuspecting Aussie investors, it was refreshing to meet Salena Kulami, a leading authority on US property investing and a chartered accountant for over 15 years. I was very impressed with her honesty and transparency. She began investing in the US real estate market herself in 2008 and during the next couple of years was able to help many Australians purchase US property as well. After hearing some horror stories from investors who had problems with US buyer advocates, she decided to formulate Splash Property Groups.
Salena says that nine out of ten of her clients have not visited the United States. That’s why she begins the process with a comprehensive consultation to fully understand their goals. For example, is their focus on long term appreciation or immediate cash flow? Do they want a property that needs very little work or are they looking for a home in an affluent neighborhood that is run down and needs a face lift? Salena understands the fears and concerns of people investing overseas and can convey comfort in the process by providing recommendations of experienced professionals who can set up structures, provide accounting services, property management, and other necessary services. However, clients are by no means required or pressured to go with her recommendations.
In addition, she has found a unique way for Australians, especially those who are asset rich, to finance their investment with incredibly low interest rates between 2 and 2.5%.
I found my discussions with Selena extremely informative and think you will too. If you’d like to learn more about the risks, remedies, and rewards of investing in US property and/or Salena’s services, you can listen to my interview with her by right clicking on each of the tracks below and downloading to your chosen devise for easy listening on your Iphone, Tablet, Ipod or MP3 player.
To Fun and Fortune!
Rachel Barnes