Australian - paying cash for property to hold and rent.

7 Replies

What should I know beforehand?

I have between 60-80k this year to purchase something. I’m considering potentially a condo or lower end single family home just to hold and cashflow while I save up for my next one.

Are there any hurdles or obstacles that I need to be aware of if I’m paying cash for a property?

Not that I can think of. Paying cash actually makes life easier in many ways, particularly as you're getting to learn the ropes. That's what I'm doing too. Focus should be on the property and everything related to it. Good luck and shoot any other questions you may have. 

Originally posted by @Nathan Asher Robson :

What should I know beforehand?

I have between 60-80k this year to purchase something. I’m considering potentially a condo or lower end single family home just to hold and cashflow while I save up for my next one.

Are there any hurdles or obstacles that I need to be aware of if I’m paying cash for a property?

Hey mate,

The US market is a different world compared to back home.

After 500+ deals under my belt, millions in profit and losses I have concluded that "business is easy and people make it difficult" lol

The real estate professionals here in the US sometimes tend to be very unprofessional unlike in Australia.

It's more regulated there especially when it comes to property management.

My best tip would be to take your time and don't jump in.

There is no rush and the US is full of deals.

Spend the time in doing due diligence more so on the people that you are looking at working with rather than the stats/demographics of a particular area.

I wish you much success 

It's night and day difference. You need to figure out where you want to invest and then dive deep into research mode. Don't just buy because the numbers look good. Talk to people that invest in that market. Even consider making a trip to the choose market.

In that price range I would want to see the property in person....keep some money held back for repairs and vacancy.