I love em!
150% increase in value after the refurbishment! that's quite a statement to make!
However, there are two main factors for this:
1. Mortgages for properties under $50,000 are almost non-existant
2. Mortgages for refurbishment properties are non-existant.
Both these factors alone drives the price down to the bottom. The only people left to buy are the truly cash rich individuals and this means that absolute bargain properties are their for the taking.
Take this example:
Property purchased for $20,000
Recently assessed at $35,000
Refurbished by us for $12,500
Re-assessed at $50,000
Increase in capital value of 150% on purchase price
OR 35% increase if you include your refurb costs.
If you decided to flip the property, you could turn a quick profit of $17,500 (less legals.) Then do it all over again and again!
I find properties for my clients like this on a regular basis, check this one out here
This blog is about property investing in the USA. Our aim is to provide low cost, high cash flow properties to our clients in a time when UK property doesn't offer returns worthy of investment.
Thursday 26 February 2009
Wednesday 25 February 2009
Are you an 'out of the box thinker?'
We are all programmed to think that ourmoney is safe in the bank –
this is necessary for the banks and in fact governments to prosper. But
has this recession taught us anything orwill it all be forgotten (and
forgiven) in a few yearsfrom now?
I hope not! I believe the next few years could bring awhole new ere of
‘out of the box’ thinkers andentrepreneurs, regular people who take a
bullish approach tothe conventional ways of making money.
Even at my tender age (I’m 29 by theway) I remember when I left school
my mother would tell me to find a good job that offers stability andgood
pay. The idea that you mightactually enjoy what you do seemed completely
irrelevant . We’ve seen this mind set shift in recentyears, even my
mother has concededthat being happy in your work is now areal priority. A
new ere of workingclass has emerged thatdemand not just high salaries but
abalance between work and lifestyle is equally important.
What changes will you be making thisyear? Will you be taking advantage
ofthese weaker times while the masses bury their heads in the sandhoping
it’ll all be over soon.
I hope you are an 'out of the box thinker'too.
Contact us about building a portfolio and let us help you on the path to financial freedom.
Kind Regards
Ollie
this is necessary for the banks and in fact governments to prosper. But
has this recession taught us anything orwill it all be forgotten (and
forgiven) in a few yearsfrom now?
I hope not! I believe the next few years could bring awhole new ere of
‘out of the box’ thinkers andentrepreneurs, regular people who take a
bullish approach tothe conventional ways of making money.
Even at my tender age (I’m 29 by theway) I remember when I left school
my mother would tell me to find a good job that offers stability andgood
pay. The idea that you mightactually enjoy what you do seemed completely
irrelevant . We’ve seen this mind set shift in recentyears, even my
mother has concededthat being happy in your work is now areal priority. A
new ere of workingclass has emerged thatdemand not just high salaries but
abalance between work and lifestyle is equally important.
What changes will you be making thisyear? Will you be taking advantage
ofthese weaker times while the masses bury their heads in the sandhoping
it’ll all be over soon.
I hope you are an 'out of the box thinker'too.
Contact us about building a portfolio and let us help you on the path to financial freedom.
Kind Regards
Ollie
Tuesday 24 February 2009
Property Management on steroids - I'm really excited about this!
Property Management is in my experience the biggest hurdle in overseas
property investing. Get it wrong and you have permanent hangover- but get
it right and you're flying!
We've been testing a new concept we hope to launch later this year for our
clients new and old. A property management solution on steroids!
A website where your tenant can go and make a payment or report a problem.
This means no managment fees to pay! You only have to pay for something
when it happens.
Here's how it'll work:
Tenant wants to make a payment or report a problem. They go to our
website, enter the details and a reference number. This gets sent to our
property management response team and automatically forwarded to you via
email.
If it's a fault, then you have the opportunity to either deal with this
yourself directly. In other words call/email us and we will instruct our
contractors to deal with it.
Alternatively, we can deal with the problem fully on your behalf. We just
agree the terms with you before we start.
The reason for this is simple. No more monthly management fees to pay.
If there's nothing to do - then there's nothing to pay. simple!
This solution really closes the gap on owning property overseas. Now we
can make investing as seamless as possible!
I'm so glad we will be able to offer a service like this. Although I have
relied heavily on Management companies over the years, I have made no
secret that I don't really see traditional management companies as a viable
solution simply because of the volume of properties needed to make it a
profitable business.
This is why we have our very own in-house property manager who takes care
of our clients' properties ONLY. Nothing else. And when we introduce this
service as well, we will really show the other property management
companies how it's done!
I'd like to hear from you about this. Is this a service you would be
happy using?
Drop me an email, I'd love to hear any comments/suggesstions on this
subject, email: ollie@usapropertyinvestor.co.uk
Kind Regards
Ollie
property investing. Get it wrong and you have permanent hangover- but get
it right and you're flying!
We've been testing a new concept we hope to launch later this year for our
clients new and old. A property management solution on steroids!
A website where your tenant can go and make a payment or report a problem.
This means no managment fees to pay! You only have to pay for something
when it happens.
Here's how it'll work:
Tenant wants to make a payment or report a problem. They go to our
website, enter the details and a reference number. This gets sent to our
property management response team and automatically forwarded to you via
email.
If it's a fault, then you have the opportunity to either deal with this
yourself directly. In other words call/email us and we will instruct our
contractors to deal with it.
Alternatively, we can deal with the problem fully on your behalf. We just
agree the terms with you before we start.
The reason for this is simple. No more monthly management fees to pay.
If there's nothing to do - then there's nothing to pay. simple!
This solution really closes the gap on owning property overseas. Now we
can make investing as seamless as possible!
I'm so glad we will be able to offer a service like this. Although I have
relied heavily on Management companies over the years, I have made no
secret that I don't really see traditional management companies as a viable
solution simply because of the volume of properties needed to make it a
profitable business.
This is why we have our very own in-house property manager who takes care
of our clients' properties ONLY. Nothing else. And when we introduce this
service as well, we will really show the other property management
companies how it's done!
I'd like to hear from you about this. Is this a service you would be
happy using?
Drop me an email, I'd love to hear any comments/suggesstions on this
subject, email: ollie@usapropertyinvestor.co.uk
Kind Regards
Ollie
Monday 23 February 2009
Rental demand in Buffalo
I get asked a lot about the rental market in Buffalo and whether the market for rentals is strong. Clients have asked me that if property is so cheap then why do people rent?
Owning property is a very British way of life. Not every society sees ownership as a mark of personal success. And in current times more and more people are adjusting to renting as well. In fact I have spoken to quite a number of renters in the UK that say they will never own again. Anyone that has been on the wrong side of a mortgage company will usually agree with this.
Renting in Buffalo and right across Western New york is simply the done thing. Ownership costs are considered high for owner-occupiers and with the success of the Section 8 program, it would be hard to justify owning if you could have your rent paid by the state. It's also not that easy for lower income families to get a mortgage and even harder in today's market.
Owning property is a very British way of life. Not every society sees ownership as a mark of personal success. And in current times more and more people are adjusting to renting as well. In fact I have spoken to quite a number of renters in the UK that say they will never own again. Anyone that has been on the wrong side of a mortgage company will usually agree with this.
Renting in Buffalo and right across Western New york is simply the done thing. Ownership costs are considered high for owner-occupiers and with the success of the Section 8 program, it would be hard to justify owning if you could have your rent paid by the state. It's also not that easy for lower income families to get a mortgage and even harder in today's market.
Have you got the propety bug?
I have. When I bought my first property, this was actually a UK property
a few years ago when yields made sense. All I could think of was if this
property earns me £100 a month, then how many of these little 'bits' do I
need before I can give up the day job. That is all I thought about, and
quite frankly all I cared about.
To be honest, in many ways not much has changed for me. I believe
wholeheartedly in wealth creation and passive income through property.
Every property I buy in the US brings me closer and closer to my goal.
The hardest challenge I have in my quest is a personal demon called
'impatience.' This is one of the biggest challenges any property investor
faces. Learning to be patient is a must in this business.
Learning to take bite size chunks, methodically, and consistently will
keep you steady and calm and enable you to see opportunites when they are
presented while others run around like headless chickens.
My advice, write down you goals, shoot for the stars - why not! but make
sure you put a timescale on it. and STICK TO THEM. Property investing is
simply the most consistent investment vehicle in the history of the world -
nothing else comes even close to the returns and possibilites we have with
property.
..Long may it continue.
Ollie
a few years ago when yields made sense. All I could think of was if this
property earns me £100 a month, then how many of these little 'bits' do I
need before I can give up the day job. That is all I thought about, and
quite frankly all I cared about.
To be honest, in many ways not much has changed for me. I believe
wholeheartedly in wealth creation and passive income through property.
Every property I buy in the US brings me closer and closer to my goal.
The hardest challenge I have in my quest is a personal demon called
'impatience.' This is one of the biggest challenges any property investor
faces. Learning to be patient is a must in this business.
Learning to take bite size chunks, methodically, and consistently will
keep you steady and calm and enable you to see opportunites when they are
presented while others run around like headless chickens.
My advice, write down you goals, shoot for the stars - why not! but make
sure you put a timescale on it. and STICK TO THEM. Property investing is
simply the most consistent investment vehicle in the history of the world -
nothing else comes even close to the returns and possibilites we have with
property.
..Long may it continue.
Ollie
Thursday 19 February 2009
BOE drops interest rates to 1% - is this good for us or bad?
Here it is! I think we all new this would happen, the BOE has dropped its
rates again another .5% to 1%.
What does this mean for us? If you're thinking about investing in
property now is the right time. The banks are not offering interest rates
worthy of your savings.
Buy property in Western New York and get double digit yields, and with capital
appreciation on target for another 5-6% this year - this is the definition
of 'making your money work harder.'
It's no big surprise that if your own economy is crumbling, then you look
elsewhere to shelter your money.
Read the full story here: http://www.comproperty.com/news-story.php?id=1957
Ollie
rates again another .5% to 1%.
What does this mean for us? If you're thinking about investing in
property now is the right time. The banks are not offering interest rates
worthy of your savings.
Buy property in Western New York and get double digit yields, and with capital
appreciation on target for another 5-6% this year - this is the definition
of 'making your money work harder.'
It's no big surprise that if your own economy is crumbling, then you look
elsewhere to shelter your money.
Read the full story here: http://www.comproperty.com/news-story.php?id=1957
Ollie
Subscribe to:
Posts (Atom)