Hi,
I am an investor from Australia looking to invest somewhere?? in your country.
I`m after any suggestions and opinions on the areas to invest, taking into consideration that I am looking in the lower economic scale at price ranges up to 100K.
I am specifically after cashflow at the moment in order to build up a FICO score over time, so any suggestions with good returns will be appreciated.
Thanks
Lucky you, are you looking to be a private investor, if so the forclosure and/or Rehab buisness is the fastest for quick return usually somewhere between 4-12 months depending on the dontract I know in Virginia/Maryland are you can make anywhere from 50-100k on a single deal return. I know some houses that you can just buy and sit on for 1 year and make 100k on. I am just getting tinto the buisness of Rehab only becuase I have seen how successful Friends of mine have become.
Yeah, I am a private investor and thanks.> I know in Virginia/Maryland are you can make anywhere from 50-100k on a single deal return.
This sounds too good too be true.
Having done quite a bit of rehabbing in Australia, this area looks quite inviting.
I have read up on a guy who puts 7 to 14K down on a foreclosure in poor condition, then spend around 20K to bring it back to life.
Then redraws his original cash back from the property, rents it out then starts again.
I am still looking into which structure to purchase in ie; LLC/ S-Corporation and how to fund the purchases.
Have also been looking around NY MI and OH. Looks like some OK areas in these states with good returns, taking into account there`s good and bad everywhere.
Thanks jd77v17 I will take a gander at Maryland to see what sort of bang I can get for my buck.
Mozi
The best advice I can ever give someone is to invest in their local area. Unless you are going to move to and live in Maryland, I would stay in the area you are familiar with. Also past results does not mean future returns. So be careful when someone is bragging they made a fortune in one are or another. Because if they have and the pickings are still good, why would they give that info for free?
Dan 732
I have invested into my own area, I`m after returns that will boost my debt serviceability.
Here the returns are on average 5% ie; rental income p/a over purchase price.
I will be very diligent in my long distance purchases.
Thanks Dan
Unfortunately your price range will create some significant limitations.
In the Pacific Northwestā¦youād be hard pressed to buy a buildable lot in a desireable neighborhood for $100k.
And areas (that Iām aware of) in that price range arenāt seeing significant appreciation. In fact some regions around the country (in that range) have actually experienced some depreciation.
Best of luck,
-Infowell
My contacts are my brother so he got nothing out of it but telling me he has made alot of money and showing me with his new Benz and the nice house he plans to buy when he retires in 2 years at 36ā¦ So believe me there is money to be made in Eastern USA.
āSo believe me there is money to be made in Eastern USA.ā
What area?
And under $100k ?
If we donāt put a price limit of $100k on the initial purchase. The Greater Puget Sound (N. Pierce & Snohomish especially due to King County Building Moritoriums) is the next hot ticket.
Better move fastā¦itās already starting to make the news.
-Infowell
So he got lucky, and now you think you can duplicate the same luck. Good luck with that! Why wasnāt he letting you have some of action a few years ago when he was making his good deals?
What about Knoxville TN?
I have come across a 6 unit block with average rent of $400p/m.
$125K all up, figures work for me but what about the area? Demographics look OK for a not so big town.
Would you buy there? ???
When I said my limit was $100K, I had in mind that I would do several properties of similar standing.
This isnt to say I cant put a few of my eggs in the 1 basket and do a small apt. block to $500K.
Regards
Mozi
This isnt to say I cant put a few of my eggs in the 1 basket and do a small apt. block to $500K.
Thatās A Horse Of A Different Color!!!
āWhat about Knoxville TN?ā
I have data for 29 statesā¦unfortunately, Tennessee isnāt one of em. So I wouldnāt buy there simply because, I donāt know the market (I need lots of data to chew on).
Hereās my choices for emerging markets, and I must admit to being slightly prejudiceā¦preferring markets Iām familiar with, or have researched in decending order:
Seattle, WA
Phoenix, AZ
Sacramento, CA
Las Vegas, NV (proceed with caution)
West Palm Beach, FL
Orlando, FL
Tampa, FL
Portland, OR/Vancouver, WA
Medford/Ashland, OR
Denver, CO
Atlanta, GA
Boston, MA
Philadelphia, PA
Washington DC / Baltimore, MD
Dallas, TX
Houston, TX
Also, I feel thereās still some very good opportunity in San Bernardino County, CA (not too late)
Vacations properties (2nd homes) have been a hot ticket item the last few years as well. Some ādiscoveredā areas still offer further potential growthā¦while other regions are just beginning to emerge.
More on that later,
-Infowell
Dan,
He only started 1 year ago and he is, I know I can duplicate his success becuase he is helping me and is a great mentor, he is helping me every step of the way. If you donāt believe in the success of investing why are you even posting or REI?
This site is about success and people helping each other not putting each other down because they are jealous. You might want to find a new career smiley.
Everyone else sounds like you all are doing great homework and like i said anyone looking into the MD-VA area let me know we can help each other.
I have something called a āBSā detector, it helps me determine what is āBSā (fiction) and what is real. When someone comes onto a message board and claims they can make 100K a flip in a certain area, I call BS. Because why would anyone share that info? The only reason I could come up with is that you or someone you know has property in that area that they need to sell. So the more ābuzzā the better. Good for you, you are now a pumper and dumper!
āIf you donāt believe in the success of investing why are you even posting or REI?ā
Read his last 10 postsā¦heās got nothing to contribute, but snide remarks.
These kind of personal attacks & caustic comments take about as much courage as flipping people off on the Freeway.
And profits of $100k a transaction are possible if one knows what theyāre doing. Closed minds & open mouths wouldnāt understand that.
-Infowell
Yea Infowell
I have nothing to contribute. I didnāt say a 100K a transaction is not possible, but I wouldnāt brag about it. Why cause why would I? Who cares how much I make? Itās a message board! So I am leary of people who brag about their home town and saying how much they āmadeā.
Itās only a personal attack, if you donāt like what others are saying. I always like how that works.
āItās only a personal attack, if you donāt like what others are saying. I always like how that works.ā
Sorry Compadreā - you didnāt personally attack meā¦therefore itās an observation.
If anyone cares to go back through your profile & look @ your past comments - you bait people, complain about this website & have relatively little positive or informative to contribute.
I take my time to put together information I hope people will find helpful & informative because, Iāve an interest in investing & want to contribute as well as learn.
This is a great website with a great deal of free information, and a lot of people contribute their time freely because, itās fun.
Perhaps thereās a stock investing website somewhere which youād find more to your liking.
-Infowell
āI didnāt say a 100K a transaction is not possible, but I wouldnāt brag about it. Why cause why would I?ā
I think people brag because they feel good about themselves, and want to share that feeling.
I personally like to hear about other peoples successā¦it makes me feel good, and gives me hope for future achievment.
Also, if Iām successfulā¦Iād like to see others benefit from my success. Of courseāIām cautious not to create too many competitors in so doing.
-Infowell
Well I did not know it was a requirement to be positive all the time. If you see a about to run off the cliff do you encourage him? I donāt.
I donāt remember complaining about this website, I think it has great information. In fact I have recommended it to others to look at. Maybe I just donāt drink the ākool-aideā as much as everyone else here but asking questions and analyzing things is just the way I am. If itās insulting, oh well, youāll get over it.
I never brag about how much I make or what deals I have done. Mostly because of manors and politeness. Also I donāt want competition. I already have enough competition in my businesses, I donāt need anymore.
I agree 100% with infowell. All I have seen from Dan is a bunch of negative comments, and I do think they are designed to bait people into fighting. Negative comments as a rule arenāt always bad, but when they are confrontational, I think itās ridiculous.
I also wonder why you even post here. All I see you do is contradict almost every positive post made about real estate, and also counter a lot of them with positive comments about the stock market. Maybe you should post on a stock market site, then you can be positive. Nobody minds comments that are truthful, and we donāt want things sugar coated, but there is no need for most of your posts. They donāt add anything to the topics. 99.9% of all posts here are excellent, and investors share their experiences more here than any other site I visit. I personally think your posts serve no purpose except to bait people into responding. I refuse to be drawn into your little game. Have fun.
By the way, Infowell, and others, this topic has been very educational, keep up the good work. I never allow negative thinkers to poison my mind, it is why I have an ex out there LOL.
Heās from Jersey, Infowellā¦youād be snide, rude, and abusive if you lived there ā itās the only way to survive if everyone else is, too! Itās like New York with mullets.