New member from Australia

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New member from Australia

Marz Junior
Alice springs, Northern Territory · Member since 2015 · 17 posts · 4 votes

Hi BP community. 

My name is Marz and im looking at investing in the states. I guess like most overseas investors i saw the prices were low and the ROI was far greater than what we have here in OZ. Being a newbie to investing not just in the states but a newbie in general. I've been working 2 jobs for the last few years trying to save enough money so that I can invest over there. It's been hard but hopefully worth it. I guess I'm looking at investing in single family homes that I can get cheap, fix then flip to aid in building capital but if it doesn't sell I'm more than happy to rent them out. Ultimately the goal would be to build enough capital to upgrade to multi family apartments in the future. I guess my main challenges i see are, 1. Finding good potential properties. 2. Finding reliable and good contractors. 3. Finance for overseas investors so I can leverage. 4. A good property manager. 5. Learning more about not just usa real estate laws but individual state laws depending on where i invest. I know there are many more things i need to learn which is why i am on BP learning as much as I can, not just from the videos but from reading peoples blogs and posts. I look forward to hearing from anyone and possibly working alongside you.

Thanks.

Marz. 

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Federico Gutierrez
Realtor · Cleveland, OH · Member since 2015 · 2k+ posts · 857 votes
10y

Hey Marz, Welcome to the forum from another aussie to another.

I think you need to flip points around. 3 and 1 should dome prior to 2.

Your hardest obstacle will be the initial capital to invest here. Have you looked into what markets could work for your limited funds? 

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  • Federico Gutierrez
    Realtor · Cleveland, OH · Member since 2015 · 2k+ posts · 857 votes
    10y

    Hey Marz, Welcome to the forum from another aussie to another.

    I think you need to flip points around. 3 and 1 should dome prior to 2.

    Your hardest obstacle will be the initial capital to invest here. Have you looked into what markets could work for your limited funds? 

    1Reply
  • Mark Nolan
    Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    10y

    @Marz Junior

    Welcome to Bigger Pockets. Make sure to check out all the informative podcasts.

    0Reply
  • Marz Junior
    OP
    Alice springs, Northern Territory · Member since 2015 · 17 posts · 4 votes
    10y
    Originally posted by @Mark Nolan:

    @Marz Junior

    Welcome to Bigger Pockets. Make sure to check out all the informative podcasts.

     Hey Mark Nolan,  thanks for the reply and yeah the podcasts are an essential part of my day. Thanks.

    0Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    10y

    Welcome aboard @Marz Junior

    Good luck to you & I'll see you around the forums.

    0Reply
  • Marz Junior
    OP
    Alice springs, Northern Territory · Member since 2015 · 17 posts · 4 votes
    10y
    Originally posted by @Federico Gutierrez:

    Hey Marz, Welcome to the forum from another aussie to another.

    I think you need to flip points around. 3 and 1 should dome prior to 2.

    Your hardest obstacle will be the initial capital to invest here. Have you looked into what markets could work for your limited funds? 

     Hey Fedz thanks for the tip. I guess initially i was looking at Detroit but since looking onto US property websites ive noticed that there's deals everywhere.  One of the videos ive come across on BP was affordable rei where the young lady dealt mainly with the sub 30k market. I'm also looking at coming over to the states early next year but im just finalizing my funds from here first. Thanks for the reply mate.

    0Reply
  • Marz Junior
    OP
    Alice springs, Northern Territory · Member since 2015 · 17 posts · 4 votes
    10y
    Originally posted by @James Wise:

    Welcome aboard @Marz Junior

    Good luck to you & I'll see you around the forums.

     Absolutely james.  Thanks. 

    1Reply
  • Jerry W.Pro Member
    Moderator
    Investor · Thermopolis, WY · Member since 2012 · 4k+ posts · 4k+ votes
    10y

    @Marz Junior If you are going to be doing fix and flips you will probably want to be present for at least the first few.  Depending on others to look out for your interests while you are thousands of miles away might be tough.  You might consider being a hard money lender or doing a joint venture the first time or two until you know more about the process.  I realize that will be hard if you only have the money for one property.

    0Reply
  • Marz Junior
    OP
    Alice springs, Northern Territory · Member since 2015 · 17 posts · 4 votes
    10y
    Originally posted by @Jerry W.:

    @Marz Junior If you are going to be doing fix and flips you will probably want to be present for at least the first few.  Depending on others to look out for your interests while you are thousands of miles away might be tough.  You might consider being a hard money lender or doing a joint venture the first time or two until you know more about the process.  I realize that will be hard if you only have the money for one property.

     G'day Jerry. You're absolutely right.  I am looking at coming over to the states early to mid next year. I have a couple of people that I've been talking to online that i want to visit and perhaps do a joint venture with.  BP has been a great find for me as I'm able to reach out to alot more people now. Thanks for replying.  Have a great day. 

    Marz. 

    1Reply
  • Helen Rolls
    Investor · Sydney, New South Wales · Member since 2015 · 64 posts · 19 votes
    10y

    Hi @Marz Junior.  

    Good to see another Aussie on here :). I like your plan. I'm curious though how you plan to handle doing fix and flip from a distance..?  I find even managing small renovations on my home in Melbourne from Sydney a challenge. Even from contractors I have worked with in person for years before I moved. (Still wondering why the floor in the sunroom has one coat of walnut and the rest of the house has two after three years).

    Cheers,

    Helen

    0Reply
  • Saul L.
    Specialist · Kiryat Motzkin, Israel · Member since 2014 · 266 posts · 159 votes
    10y

    @Marz Junior

    Welcome to the site and best of luck.

    I would caution you though- as a foreign investor myself- stay away from Detroit. I have been investing in Detroit proper and hold a few properties over there. I have come to the conclusion that Detroit is not a market that can be successfully invested alone long distance. The actual returns are nowhere near expected and the headaches are enormous. Fix and flips are out of the question, I can barely control a simple pre rental rehab. 

    @Jerry W. has given you some solid advice above. I am moving in that direction and also looking into crowdfunding opportunities- which might interest you as well- considering the ability to invest relatively smaller sums in diverse assets.

    0Reply
  • Sam Van Horebeek
    Hong Kong, Hong Kong · Member since 2015 · 140 posts · 89 votes
    10y

    @Marz Junior

    welcome - you might also consider first what type of return versus the amount of risk you are wiling to take. When we talk to foreign investors for the US real estate market, often they do not understand well that every market/neighbourhood (and property) has a certain (expected) return but also certain risk.  Every investor is different so you might need to determine your preferred style of investing in property and that will drive which city you should look at. We have done this over the last years with many foreign investors and they seem to appreciate this way of tackling the US real estate market. 

    0Reply
  • Marz Junior
    OP
    Alice springs, Northern Territory · Member since 2015 · 17 posts · 4 votes
    10y
    Originally posted by @Helen Rolls:

    Hi @Marz Junior.  

    Good to see another Aussie on here :). I like your plan. I'm curious though how you plan to handle doing fix and flip from a distance..?  I find even managing small renovations on my home in Melbourne from Sydney a challenge. Even from contractors I have worked with in person for years before I moved. (Still wondering why the floor in the sunroom has one coat of walnut and the rest of the house has two after three years).

    Cheers,

    Helen

     G'day Helz.

    yeah it's a sticky one to say the least and it's a challenge i need to look into a little more.  Im planning on going to the states next year and have been in contact with a couple of people who are contractors.  I'm trying to meet more people on here too. I don't mind doing joint ventures and going halves in the profits.  But I want to see the property in person and walk through with the contractor and see what he or she thinks. Kinda playing it by ear atm but at the very least I'll just get a property already done and rent it out.

    Thanks for asking. 

    Marz

    0Reply
  • Marz Junior
    OP
    Alice springs, Northern Territory · Member since 2015 · 17 posts · 4 votes
    10y
    Originally posted by @Saul L.:

    @Marz Junior

    Welcome to the site and best of luck.

    I would caution you though- as a foreign investor myself- stay away from Detroit. I have been investing in Detroit proper and hold a few properties over there. I have come to the conclusion that Detroit is not a market that can be successfully invested alone long distance. The actual returns are nowhere near expected and the headaches are enormous. Fix and flips are out of the question, I can barely control a simple pre rental rehab. 

    @Jerry W. has given you some solid advice above. I am moving in that direction and also looking into crowdfunding opportunities- which might interest you as well- considering the ability to invest relatively smaller sums in diverse assets.

     @Saul L.

    Thank you for your concern.  It's good getting real advice from people like yourself in the particular markets I've been looking at.

    0Reply
  • Marz Junior
    OP
    Alice springs, Northern Territory · Member since 2015 · 17 posts · 4 votes
    10y
    Originally posted by @Sam Van Horebeek:

    @Marz Junior

    welcome - you might also consider first what type of return versus the amount of risk you are wiling to take. When we talk to foreign investors for the US real estate market, often they do not understand well that every market/neighbourhood (and property) has a certain (expected) return but also certain risk.  Every investor is different so you might need to determine your preferred style of investing in property and that will drive which city you should look at. We have done this over the last years with many foreign investors and they seem to appreciate this way of tackling the US real estate market. 

     Thanks Sam for your insight. I'll definitely need to determine my preferred style for sure. Hope all is well. 

    Marz

    0Reply
  • Engelo RumoraBusiness Member
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    10y
    Originally posted by @Marz Junior:

    Hi BP community. 

    My name is Marz and im looking at investing in the states. I guess like most overseas investors i saw the prices were low and the ROI was far greater than what we have here in OZ. Being a newbie to investing not just in the states but a newbie in general. I've been working 2 jobs for the last few years trying to save enough money so that I can invest over there. It's been hard but hopefully worth it. I guess I'm looking at investing in single family homes that I can get cheap, fix then flip to aid in building capital but if it doesn't sell I'm more than happy to rent them out. Ultimately the goal would be to build enough capital to upgrade to multi family apartments in the future. I guess my main challenges i see are, 1. Finding good potential properties. 2. Finding reliable and good contractors. 3. Finance for overseas investors so I can leverage. 4. A good property manager. 5. Learning more about not just usa real estate laws but individual state laws depending on where i invest. I know there are many more things i need to learn which is why i am on BP learning as much as I can, not just from the videos but from reading peoples blogs and posts. I look forward to hearing from anyone and possibly working alongside you.

    Thanks.

    Marz. 

    Welcome to the forum mate :)

    There sure have been quite a few Aussies joining in the recent months.

    I always wish many folks knew about Bigger Pockets years ago as there would be much less heart ache now.

    The best advice I could give someone starting out with US real estate is to focus more on the people and team rather than the stats/demographics.

    Thanks and much success :)

    Podcast Guest on Show #89
    Oz Realty4.5367 Reviews
    WebsiteView Page
    1Reply
  • Richard Dunlop
    Investor · Detroit, MI · Member since 2014 · 755 posts · 462 votes
    10y
    Originally posted by @Saul L.:

    @Marz Junior

    Welcome to the site and best of luck.

    I would caution you though- as a foreign investor myself- stay away from Detroit. I have been investing in Detroit proper and hold a few properties over there. I have come to the conclusion that Detroit is not a market that can be successfully invested alone long distance. The actual returns are nowhere near expected and the headaches are enormous. Fix and flips are out of the question, I can barely control a simple pre rental rehab. 

    @Jerry W. has given you some solid advice above. I am moving in that direction and also looking into crowdfunding opportunities- which might interest you as well- considering the ability to invest relatively smaller sums in diverse assets.

    When I first came to Detroit to look at properties before I moved up here, I used to run into former RE Investors that had lost their over mortgaged properties in the crash. They would always tell me “You can’t make any money in Detroit”

    I would look at them and ask, “If I buy for $1000 the same house you paid $80,000.00 for, do you suppose the outcome might be different?”

    I strongly advocate Detroit but even more Strongly advocate against buying Turn Key properties and most other models people are trying.

    It takes more than a property manager to be successful in Detroit.

    0Reply
  • Rob LaRovere
    Rental Property Investor · Tampa, FL · Member since 2015 · 61 posts · 37 votes
    10y

    Hi @Marz Junior,

    I'll echo what everyone else has said, welcome to the forums!  Besides Detroit, what other areas have you looked into and where do you plan to travel to next spring?  Is Indianapolis on your list?  If you're interested in diversifying your risk through crowdfunding like  @Saul L. stated, I'd be happy to speak with you about what we're accomplishing here in Indy.   

    You have certainly received a lot of good advice.  Good luck with your new endeavor and I hope to talk soon.

    Rob

    0Reply
  • Marz Junior
    OP
    Alice springs, Northern Territory · Member since 2015 · 17 posts · 4 votes
    10y
    Originally posted by @Engelo Rumora:
    Originally posted by @Marz Junior:

    Hi BP community. 

    My name is Marz and im looking at investing in the states. I guess like most overseas investors i saw the prices were low and the ROI was far greater than what we have here in OZ. Being a newbie to investing not just in the states but a newbie in general. I've been working 2 jobs for the last few years trying to save enough money so that I can invest over there. It's been hard but hopefully worth it. I guess I'm looking at investing in single family homes that I can get cheap, fix then flip to aid in building capital but if it doesn't sell I'm more than happy to rent them out. Ultimately the goal would be to build enough capital to upgrade to multi family apartments in the future. I guess my main challenges i see are, 1. Finding good potential properties. 2. Finding reliable and good contractors. 3. Finance for overseas investors so I can leverage. 4. A good property manager. 5. Learning more about not just usa real estate laws but individual state laws depending on where i invest. I know there are many more things i need to learn which is why i am on BP learning as much as I can, not just from the videos but from reading peoples blogs and posts. I look forward to hearing from anyone and possibly working alongside you.

    Thanks.

    Marz. 

    Welcome to the forum mate :)

    There sure have been quite a few Aussies joining in the recent months.

    I always wish many folks knew about Bigger Pockets years ago as there would be much less heart ache now.

    The best advice I could give someone starting out with US real estate is to focus more on the people and team rather than the stats/demographics.

    Thanks and much success :)

     G'day Engelo.

    You're absolutely right.  I am looking at buying in the states but more importantly,  I'm connecting with people i can actually go and meet and greet.

    Thanks for your reply. 

    Marz. 

    1Reply
  • Marz Junior
    OP
    Alice springs, Northern Territory · Member since 2015 · 17 posts · 4 votes
    10y
    Originally posted by @Richard Dunlop:
    Originally posted by @Saul L.:

    @Marz Junior

    Welcome to the site and best of luck.

    I would caution you though- as a foreign investor myself- stay away from Detroit. I have been investing in Detroit proper and hold a few properties over there. I have come to the conclusion that Detroit is not a market that can be successfully invested alone long distance. The actual returns are nowhere near expected and the headaches are enormous. Fix and flips are out of the question, I can barely control a simple pre rental rehab. 

    @Jerry W. has given you some solid advice above. I am moving in that direction and also looking into crowdfunding opportunities- which might interest you as well- considering the ability to invest relatively smaller sums in diverse assets.

    When I first came to Detroit to look at properties before I moved up here, I used to run into former RE Investors that had lost their over mortgaged properties in the crash. They would always tell me “You can’t make any money in Detroit”

    I would look at them and ask, “If I buy for $1000 the same house you paid $80,000.00 for, do you suppose the outcome might be different?”

    I strongly advocate Detroit but even more Strongly advocate against buying Turn Key properties and most other models people are trying.

    It takes more than a property manager to be successful in Detroit.

     Thanks for your insight Richard. 

    0Reply
  • Marz Junior
    OP
    Alice springs, Northern Territory · Member since 2015 · 17 posts · 4 votes
    10y
    Originally posted by @Rob LaRovere:

    Hi @Marz Junior,

    I'll echo what everyone else has said, welcome to the forums!  Besides Detroit, what other areas have you looked into and where do you plan to travel to next spring?  Is Indianapolis on your list?  If you're interested in diversifying your risk through crowdfunding like  @Saul L. stated, I'd be happy to speak with you about what we're accomplishing here in Indy.   

    You have certainly received a lot of good advice.  Good luck with your new endeavor and I hope to talk soon.

    Rob

     G'day Rob.

    Basically I'll be in the states for about a month and will be meeting with different people from different states. So Indianapolis is a possibility too. In regards to crowdfunding i don't know what that is so I'll have to look it up and get back to you.

    thanks for your time

    marz

    0Reply
  • Chanell Rice
    Detroit, MI · Member since 2014 · 2 posts · 0 votes
    10y

    Hi @marz.  I'm an agent in the Detroit area.  I work with a number of out of state investors.  I'd love to have a conversation with you regarding your investing goals.  

    0Reply
  • Saul L.
    Specialist · Kiryat Motzkin, Israel · Member since 2014 · 266 posts · 159 votes
    10y

    @Marz Junior for an intro to crowdfunding take a look at this article by @Scott Trench

    For one the main reasons (amongst others) why I am no longer investing in low end properties take a look at this article by Ben Leybovich

    1Reply
  • Louise A.
    Investor · Seattle, WA · Member since 2011 · 253 posts · 112 votes
    10y

    @Marz Junior 

    We have some great RE meetups here in Indy.  Let me know when you'll be in town and I can make sure that you know about any meetings happening when you're in town.   

    0Reply
  • Marz Junior
    OP
    Alice springs, Northern Territory · Member since 2015 · 17 posts · 4 votes
    10y
    Originally posted by @Chanell Rice:

    Hi @marz.  I'm an agent in the Detroit area.  I work with a number of out of state investors.  I'd love to have a conversation with you regarding your investing goals.  

     @Chanell that would be great. Thanks. 

    0Reply
  • Marz Junior
    OP
    Alice springs, Northern Territory · Member since 2015 · 17 posts · 4 votes
    10y
    Originally posted by @Saul L.:

    @Marz Junior for an intro to crowdfunding take a look at this article by @Scott Trench

    For one the main reasons (amongst others) why I am no longer investing in low end properties take a look at this article by Ben Leybovich

     Thanks for the info Saul, much appreciated. 

    0Reply
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