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- Apr 27, 2010
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Opportunity to make money in the US??
- Thread starter LAndersen
- Start date
The way I see things is this. Why rent there when you can buy so easily? You will have have a difficult time finding renters there. The economic fundamentals are not there (are the auto manufacturers back to work yet?) If you buy there, be prepared to hold the property for a very long time (without cashflow) before you will be able to sell it or rent it out.
If you still want to buy there, look for the hub of the city. Find where are the jobs are there and buy nearby. Don't go for the ultracheap buildings.
If you still want to buy there, look for the hub of the city. Find where are the jobs are there and buy nearby. Don't go for the ultracheap buildings.
- Joined
- Jun 22, 2011
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http://www.cnbc.com/id/43476104
Check out this article:
Investors are the ones filling the vacuum. They are spending cash to scoop up deeply discounted homes in hard-hit areas, such as Phoenix, Las Vegas and Tampa. Foreclosures and short sales
Check out this article:
Investors are the ones filling the vacuum. They are spending cash to scoop up deeply discounted homes in hard-hit areas, such as Phoenix, Las Vegas and Tampa. Foreclosures and short sales
- Joined
- Oct 27, 2009
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- 1,210
[quote user=KeithW] The way I see things is this. Why rent there when you can buy so easily? You will have have a difficult time finding renters there. The economic fundamentals are not there (are the auto manufacturers back to work yet?) If you buy there, be prepared to hold the property for a very long time (without cashflow) before you will be able to sell it or rent it out.
Sounds good. Too bad it isn't true.
Sounds good. Too bad it isn't true.
- Joined
- Jun 22, 2011
- Messages
- 2
Im talking Tampa, not Detroit..... Forget Michigan.....
We are selling 30-40 homes a month from $15K to $60K, block homes.... from distressed to rehabbed.... could even provide properties w/ renters.
Its happening here in my backyard.
We are selling 30-40 homes a month from $15K to $60K, block homes.... from distressed to rehabbed.... could even provide properties w/ renters.
Its happening here in my backyard.
- Joined
- Jan 29, 2008
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- 1,025
[quote user=dariusTAMPA1FL]We are selling 30-40 homes a month from $15K to $60K, block homes.... from distressed to rehabbed.... could even provide properties w/ renters.
Congratulations! However, being living there and on the ground daily is a big advantage. There are also some tax complications which make US real estate a less desirable investment for Canadian investors. That can all be managed, of course, but it's not as simple as it might seem looking North.
Congratulations! However, being living there and on the ground daily is a big advantage. There are also some tax complications which make US real estate a less desirable investment for Canadian investors. That can all be managed, of course, but it's not as simple as it might seem looking North.
If you don't believe me, thats ok. But please back up your words next time. The information I'm using is from the city's own government website. http://www.ci.detroit.mi.us/ Detroit has a ways to go yet before things get back to normal. There are some things you absolutely must do before investing there.
1. Goldmine scorecard.
2. Physically travel there.
3. Talk to local realtors there. Ask them about getting a house with a renter already set up.
4. Know the US laws and go to a RE seminar there.
5. Learn their vacancy rate.
I pick more stable markets for my investing. It seems like speculation when conditions are like Detroit's.
1. Goldmine scorecard.
2. Physically travel there.
3. Talk to local realtors there. Ask them about getting a house with a renter already set up.
4. Know the US laws and go to a RE seminar there.
5. Learn their vacancy rate.
I pick more stable markets for my investing. It seems like speculation when conditions are like Detroit's.