If you’re looking to purchase property in the USA here’s some things to consider:
Rewarding Returns!
There are so many States to choose from when it comes to bagging a USA bargain. And with the current economic climate, now would seem the perfect time to buy, with such a plethora of supply and with our dollar so strong.
Those looking for cash flow would be excited about properties in some areas where a 40% gross return is achievable, and others may be more focussed on the potential to buy properties at less than 50% of their actual build cost!
Risky Business…
As many investors would tell you, when the rewards are higher, so are the risks.
But what if you’re not risking as much money on buying say three properties there, as you are buying just one in Australia?
And what if you can mitigage some of the risks?
If you’re eager for the rewards and ready to manage your risks… what next?
- Have you figured out your strategy and what the implications of that are if you are living overseas?
- How will you protect your assets?
- What are the tax implications?
- How does the process work over there?
- Who do you need on your team there?
- How do you find them?
- Who can you trust?
If you’re looking for assistance to purchase in the USA here’s some things to consider:
Experience is Essential!
As a Speaker, Mentor, Author and Property Investor in Australia, New Zealand and the USA I have a lot of experience in property.
John Fowler and I have been researching the USA and surrounding property market for several years, looking for easy and passive cash flow properties. Although we have purchased many of our rentals in Australia without ever having seen the property or even visited some of the areas, we prefer to physically check out the regions we’re looking to purchase in, when it comes to investing across the other side of the world.
In the last few years we’ve spent quite some time overseas, and even if we exclude the Greek and European trips we made in that time, and focus on just North America, the list of our ‘productive’ holidays is quite extensive…
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And then of course there’s Florida where we love to visit and where we hope to purchase our 6th USA Property. The first 5 property purchases have been around the Detroit area in Michigan and now that those properties are all settled and tenanted, we are focussing our attention on Florida for the next purchase. John and I have already visited and researched a good part of Florida, including …
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Dont’ Assume Anything!
It’s easy to go overseas to another english speaking country and assume that the people, places, and processes are the same as here in Australia. That would be a costly mistake!
It’s easy to find someone who can help you buy a property in the USA without travelling there, without having any knowledge of the place or the process and without even stepping away from your computer. That could be a very costly mistake!
Do you remember the two-tier marketing that used to be rife in Queensland? Out of town investors were being hoodwinked into paying too high a price for property there, with valuers, bankers and property spruikers all eating out of the same trough. Well it seems to me that many of those same sharks are now swimming in the USA property pool.
Having said that, I know there are some good people around to help you both here and in the USA, but how do you know who to trust?
Get Educated : Get a Good Team!
If you haven’t already done so, Click to Register for Free Membership and access the complimentary downloads including information about investing in USA property.
Need some help?
USA property is at such a discount now and if I can’t buy more property at the moment, I’d be very happy to help you get started. I don’t sell USA Property or make any money for referrals. I can help you with independent information, I can share my contacts and I can help liaise with overseas parties and negotiate on your behalf.
I prefer to deal with just one or two clients at a time, and usually within 3 months you should have a process in place, a good team set up and a propert or two, three or more! .
If you’d like more information about the Buyer’s Advocacy service, please email usa@rachelbarnes.com.au
Can You Make a Trip?
Reading statistics, looking at satelite photos, watching videos can all help you get an idea about a location but it doesn’t get any better than seeing and experiencing the locations to help you to get a good (or bad) feeling about an area.
I’ve hosted 3 Property Tours in Florida and it’s been a real eye opener for the attendees… as well as a lot of fun 🙂