Australian investor looking into Detroit, Michigan

[Kim Porciuncula]

Hello all! Long time podcast listener, but have just recently joined the community.

I'm based in Sydney, Australia and am new to the US real estate market. I'm particularly interested in purchasing my first property in Detroit MI (48221) within the next 3 months and would love to connect with anyone who specialises in this area.

Any Aussies who are going through this journey as well? Feel free to connect. Would love to hear how it's been for you to enter the US market versus the harder entry in our Australian market. :)

[Jay Hinrichs]

Quote from @Kim Porciuncula:

Hello all! Long time podcast listener, but have just recently joined the community.

I'm based in Sydney, Australia and am new to the US real estate market. I'm particularly interested in purchasing my first property in Detroit MI (48221) within the next 3 months and would love to connect with anyone who specialises in this area.

Any Aussies who are going through this journey as well? Feel free to connect. Would love to hear how it's been for you to enter the US market versus the harder entry in our Australian market. :)

@Engelo Rumora   I HIGHLY recommend you Talk to Engelo he is from Aussie land and is quite famous on the Aussie version of Bigger Pockets thats how I met him in 2012 or so.. he has been investing and rehabbing in US for 12 years now very successful at it and a NO BS kind of guy.. He knows that area well and that would be my first stop .

Secondly there were some pretty bad actors selling US props to Aussies back in 2011 to about 2016 when the exchange rate was so favorable to Aussie dollar.. but so man Aussies got totally ripped off paying 2X 3X 5X over the actual values of the properties..  its not as rampant these days . And that happened because in AU in those days most folks from AU did not realize how much FREE information is available in the US on line about real estate .. this information did not or does not Exist in AU so they were easy marks.

The other big issue is they did not realize that returns in the US totally correlate to the risks involved.

@Michael Smythe   I believe Michael posts a really good explanation on asset class's and what you can expect. so between him and Engelo you should be able to navigate this safely .   Engelo for what AU folks should look for and expect.. Micheal for deep dive into staying safe in Detroit.

Lastly Detroit like many other markets the prices and returns are directly correlated to the RISK of losing your money.. you go for the very highest returns your taking huge risks being out of country.