All Forum Posts by: Cory Macculloch

For all those debating here. I will be very surprised if you walk away satisfied that this discussion has lead to the "right answer" being formulated and visible to all. When talking about political philosophy there is no right answer. 

The moratorium is a tax on landlords, plain and simple. No one likes getting taxed. Whether it is "wrong" or "right" is going to depend on where you reside on the political spectrum and your personal bias. I have always found it easier accepting that there is no "right" answer, there is only the answer put forward by those with control which you can either accept or try to change using means you are comfortable with.

@Mike Lambert Disculpe! Colombia should definitely not be on that list. Don't know where my head was at. Thanks for correcting. 

I get where you are going with the definition and probably could be convinced by it - I was being liberal with it given the present comparison. With that in mind, I probably would have included PEMEX and the temporary historical Iranian oil expropriation as well. I definitely was not picking on Latin America. 

As is evident to me with the post, the term nationalization is problematic as it is not airtight. We would be better off if we used more specific descriptions: (1) expropriation by the state with compensation and (2) expropriation by the state without compensation.  

Grammatically speaking, have to agree with @Greg M. The government may have "bastardized" rental portfolios, they did not nationalize. US has a strong historical anti-state interference psyche so I can understand the conflation but they are different terms. For a taste of real nationalization you would have to be a foreign investor in Cuba, Chile, Columbia, Mexico, Venezuela during their respective revolutions.  

@Cory Macculloch - to clarify my post, as a fund co-investor you may get similar returns but expense structure would not be the same.

@Aldo Balatti

In the markets I have examined, traditional PMs don't make sense when examining SFH. Multi unit changed the math for me in some calculations.

One exception to the rule above is syndicating with a PM who also is an LP and receives management fees as a percentage of profits (rather than typical PM fees). This is a structure that you may see if you co-invest alongside a RE fund.

@Jeremy P. can I bother you for the name of the property manager you use in Orlando?

@Ricardo Fainsilber

Thanks for the quick reply. I am pushing on in Orlando. Haven't firmed up a property manager yet, but happy to share names once I receive one. 

@Ricardo Fainsilber how did your search pan out? I am also an out of town potential investor considering that area.

Hi Ian,

That is a coincidence, it sounds like our paths our similar. I am a lawyer originally from Canada and have relocated to Cayman about a year ago. I too am looking to expand my RE portfolio into the US. So far I have examined Texas, Florida and I may be open to OCK. I will likely be going back to Florida in a month or so.  

There are Canadian banks with US branches that I will be doing more due diligence on during my next visit. So far the options for US based financing have been a little more expensive than financing options that were available to me when I was a Canadian resident.

I presume you are considering a rental strategy?

Feel free to message me directly. Happy to share any information that comes my way - also happy to generally provide information about Cayman as you get ready for the move.

Regards,

Cory

BP world, 

I have been contemplating getting involved in a 10 lot property development opportunity in New Zealand (Auckland - North Shore). Does anyone have any experience in New Zealand? 

Cory