Al, everything I have read on this site and elsewhere indicates that there are some tremendous buys in Australia. You would probably be better off investing where you are.
Hardly a day goes by without an American posting to this board about how high prices are where they are, how many competitors are bidding on the few decent properties, and how it is no longer possible to make money.
I know this is not true everywhere but it is true in some of the most populated states.
If I were you I would be learning some of the American techniques and adapting them to my local market. I live in Canada and that’s what I’m doing.
By the way Canada is very similar to the US but there is so little creative real estate action here I’m lonesome.
I’m a realestate investor based in Sydney, Australia. I would like to start investing in the US. Any advice on how to start?
How would lenders and sellers treat investor who happens to be a non US resident? Would the interest rate be higher and how much would be the Loan Value Ratio (ie how much would lenders be willing to lend in terms of percentage of purchase price).
Hi,
I’m kind of in the same boat as you. I’m an investor from the UK, but am moving to the US and would like to continue what i do in the USA (not a US resident yet, just spending alot of time here with my fiance who is an american). I’m still in the process of contacting banks etc, right now i’m targeting the small local banks, but am actually speaking to a big bank later today. Drop me an e-mail and i’ll let you know what i find out.
But if i was in your shoes, i would only be looking to invest in the US if opportunities in Australia are not as good or not that available. If you must invest in the US, pick a city, learn as much as possible about it, and good luck.