Aussie investors looking to invest in US property. Some of you have heard this directly out of my own mouth. Here it is from the property team at Real Wealth Network as well. Beware of cheap low end US properties... Where can I get properties under $50,000 with 20-40% returns? I don’t know, but when you find out, let us know! We understand that some Australian companies advertise these kinds of returns, but we honestly doubt they really exist. Anything under $50,000 is usually in a C-class neighborhood with high crime, vandalism and high turn-over rates. Crime in parts of the U.S. is much worse than in Australia, so it’s easy for Aussies to be sold C-class properties that Americans wouldn’t touch. If you buy low-income (or no-income) housing in the U.S., you will likely lose money because they are very hard to manage. Tenants tend to stay short-term, and then strip the home with items they can sell quickly on the street when they leave. Several Aussies have taken this route and have regretted it. We are happy to give you referrals to these people.
Posted on: Thu, 03 Apr 2014 09:24:30 +0000
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