Investing downunder (Aussie) with homes in the $500,000+ range

[Terry Power]

G'day all,

I hail from Perth Western Australia and I'm keen to roll my sleeves up

I've been surfing the BP site for about a month now; I've watched a couple of dozen podcasts, read a bunch of articles and delved into the forums.

I think the BP site is amazing, I love the fact that it is such a generous group of people who clearly have an abundance mentality; that is not trying to grab as much as the property pie as possible but rather seeking ways to make the pie bigger.

So i have question, but first some context: The deals in America astound me; I'm amazed firstly how cheap you are able to purchase houses. i appreciate there are expensive houses too, but the median house price in Perth is well above $500,000

So my question is, do you think it is possible to get deals in Western Australia using the 70% rule? Or is it a different ball game altogether over here? Are people willing to sell their houses a couple of hundred thousand less than median value?

Thanks guys,

Terry

[Terry Power]

Hi Engelo,

Thank you for your prompt reply. I watched your podcast and so I'm aware you opted out of the Aussie market. 

Must say, after doing a reasonable amount of looking around i am not surprised by your comment, but nonetheless really disappointed... does this mean i should give up? are is it a sensible thing for a newbie investor to begin outside their country?

thanks again mate

Terry

PS.... i thought your podcast was bloody inspirational :-)