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[Nicholas Andrews]

Alright BP,

WHERE are you investing. And WHY

I’ll start it off, Texas big 3, job growth and affordability!

[Jay Hinrichs]

Originally posted by @Ned Carey:

@Nicholas Andrews I have to laugh at @Jay Hinrichs post.  I recently posted about two properties I sold at auction for $30k & $31k ea. I got about 25%+ more than I expected.  LOL

Ned all our turn key low value cities are littered with Aussies who invested thinking a 30 or 40k house can be managed from OZ  and had no clue as to how hard it is to get consistent rent.. how vandals work.. etc etc.  I wrote an E book just for Aussie investors its call the Perfect Storm an Aussie investor can find it on line..  For out of area investors buying low end rentals RARELY works.. you need to buy at the median and above to have a fair chance at consistent cash flow when you don't live and work in the community like you do.  Your result are not what a out of area person will experience I think we can both agree to that.   I used to post a lot on the Aussie version of BP its call the property investing Forum and the out of country part of the Forum back when the AUD was stronger than the dollar had many many folks participating now your lucky to find one post a week.. and US marketers together with promotors from OZ just hammered the OZ investor with BLUE sky and no real mention to the dangers of low end assets in the urban cores.. I was the big contrarian on the site I don't think I was really well liked there.. LOL..  but I saved a bunch a lot of heart ache. 

I remember funding one deal in mid west were a group of OZ investors bought homes in their superannation funds ( our version of IRA) and well they paid 40 to 50k per home.. my vendor bought them all back 3 years later for 5 to 10k each.. that alone was a close to one MILLION dollar US wipe out just for that one group.. Now some OZ investors did well by not buying in the hoods.. but those that went and thought hey I will buy a 35k house in inner city Detroit or Rochester or Buffalo those folks got spanked hard