All Forum Posts by: Nick Yates

We recently learned that an investment property we were intending to buy requires flood insurance. This was not disclosed at the sale. With flood insurance it still reaches our cashflow objective but obviously reduces it. 

In moving forward what other things we should we be concerned with? 

 Hi Drew and thanks! I am not sure we are looking at Perth but perhaps we should. I just know it was so high for so long. Funny how cycles go. I might reach out again later.

Well it certainly helps to have an American wife who works for a US company. She gets to apply for traditional mortgages with only a little extra paperwork. We chased cashflow in the Detroit market (cue eye rolls from Josh and anti-Detroit crowd) and have some very good cashflow for low purchase price. You have to know the areas to do this... My wife knows a lot about her home city. Now we will move back to Australia and wish to get setup with one or two Aussie based properties as investments. Yeah, no more high cashflow.

 Thanks Lindsay. The way you have described it seems pretty spot on. May be in touch soon!

 George P is on the ground there so it is good advice on the specific location to look. 

I think it is harder to find the properties you are targeting but not impossible. I think your cash flow target is possible but just less properties (<$70k) through which to achieve it. Options are just getting few and far between for your price point unfortunately. 

We ultimately pay just a tad more for properties in that area but have good cash flow from them as well. 

@Erik Noordam Thanks very much. I value the response. I had hoped my keywords would have alerted other Aussie investors but no such luck! All the best

Whilst we know that would produce better results, we are going down the "easier" path of buying "good" homes in the outer parts of Wayne County (i.e. not downtown). We are still using traditional financing so there is actually a minimum house value that they require. These homes may need some repairs or touch ups which we do before renting out for good cashflow. We hope to research, speak to and get financing through local credit unions who do portfolio lending from next summer onwards. Which areas are you looking for investment properties? 

Hi @Michael Ross, my wife and I live in the Middle East as well and have two investment properties in Detroit ourselves and are currently under contract in purchasing a 3rd investment property.  We use a Detroit based property manager as I could imagine it would save a few headaches here and there. Happy to answer any questions you have. 

Hi Everyone,

My wife (US Citizen) and I (Australian Citizen) have been investing in cashflowing properties in the US but we will ultimately move to and live in Australia. We are planning our overall real estate investment strategy and are evaluating whether we can/should include Australian cashflowing properties in our long term investment portfolio. 

I am seeking input and further discussion with anyone currently investing in Australian property that cashflows. 

We are open to all investment locations (we aren't currently living either the US / Australia) so would do it from overseas. Some locations we are considering are Perth, Bundaberg, Rockhampton, Sunshine Coast, Launceston, Adelaide. 

Thanks everyone!

Nick

Congrats @Keith 

@Keith Jourdan. Awesome job getting #21. Retire by the age of 33?