All Forum Posts by: Marisa R.

 I explained in one of my previous posts

 Hi Jay

I am also holding to flip in Detroit, but these are not 30k homes

These are areas where home owners are buying into

I was developing, small projects in Australia, 4, 3 units

I also mentioned I am a fan of timing markets. As soon as I see volume shrink I started buying, markets started rising in Sydney and Melbourne. Purchased and sold taking profits

There is no such thing as cash flowing properties in Australia, not like US market, a different beast

 Thanks Jay

The power of leveraging money is amazing. Could have, should have

I agree ....... and I always say this

Its not time in the market, but timing the market that matters

 Atl and Detroit 

 How approached Detroit market?

Carefully... lol 

Still learning, it is undoubtably a tough market. I have said it many times property management will break or make you in this market

 Cash is less risk, probably when starting best way to go as a foreigner. But the power of leveraging your money can never be under estimated

Thought it would be fun and interesting to hear from fellow investors how they did it

OK ...... perhaps bragging rights here, but who cares, lets share and learn

Thanks

I am From Australia, started researching US around 2011

Foreigners don't have restrictions when it comes to buying property in US, as long as you have the cash you can buy.

In Australia our country has restrictions on what foreigners can buy and cut off point on how much

Esta visa, which means you can stay in US on upto 3 months at one time

Just thought I would provide an account of my journey since I started investing in US property market in 2011 and more recently Detroit. Perhaps this can provide some inspiration/feedback for any wannabe foreign investors, it can be done. If you can invest from overseas, you most certainly can do it from outer of state too. 

I had plenty of people, family and friends give me at least 5 good reasons why I should not invest in the US market. But fortunately I ignored this and just continued doing my homework, flying over regularly to US and sorting out the best way to move forward to make it work for me.

At this time the US property market was a basket case, and I could see with the right systems in place I could buy cheap properties that would be cash flowing from day 1. I also thought how low could prices go, some States hit 70% drops, pretty scary stuff.

I started investing in Atlanta in 2011, when the market started rising, and pumped about $500,000 cash buying SFH at around $35,000-50,000 price range (each), these were 2500 sq ft homes, in South Atlanta, in the main distressed properties/foreclosures.

 At this time financing was not an option for foreigners so all my properties were cash buys, however this has changed significantly. Today there are more financial options for foreigners. 

As we know many markets have rebounded from when the market peaked/crashed in 2007? and Atlanta is no exception, these properties today are worth at least $200,000+ each. 

So it really was not that hard, the rising market  turned my $500,000 into over $2,000,000 USD

These homes today rent for approximately $1400-1500 per month. Rents have slowly risen in the last couple of years in Atlanta. But when I was buying rents were pretty much stagnant.

My Atlanta properties today generate an income of approximately $10,000 per month (net)

Fast forward today...........am playing in the Detroit market, seems to be many opportunities, whether I can repeat what I did in Atlanta.... only time will tell, fingers crossed:)

I have been purchasing a mix of C and B grade SFH using cash for now, on average generating around 15% net returns. I have a couple of properties that I will be flipping next year as some markets are appreciating nicely and I would like to bring capital back to the table, rinse and repeat. The idea is to have some cheaper properties that are cash flowing and some purely for flipping.

I have a lot to learn about this market, and it certainly is different from the Atlanta market. 

Its been 12 months to date and  I have now bedded 10 properties where I have sourced good property management, not the easiest thing to do, I believe for a foreigner/out of state investor if you get this right you are 80% there. 

There are certain areas that I am targeting that are safe areas and have a mix of home owners/renters. 

My idea at the moment is to continue increasing my cashflow which is now at around -

$15,000 per month

I am not foolish enough to believe its going to be all smooth sailing, hardly.... Detroit is a beast and I have had some unpleasant experiences, but persistence is something I can do.  

 I plan to revisit this thread in 12 months time and give you an update on my journey

Happy investing everyone