Australians swoop in on U.S. foreclosures

[MJ DeMarco]

On a recent Wednesday night, my wife and I found ourselves in an otherwise empty Beale Street bar surrounded by a group of Australian men.

More...

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Motivated]

Any other Aussies on this board looking into buying RE in the states?

 

[MJ DeMarco]

And Canadians too ... the USD and CAN/AUD are just about at parity. The country is slowly being sold off, like a garage sale where foreigners are getting 20% off.

 

[Rickson9]

Unfortunately true. This guy bought the Pontiac Silverdome for less than the price of a Toronto home.

"Andreas Apostolopoulos didn't expect to actually win when he mailed in a low-ball bid for an abandoned 88,000-seat stadium in suburban Detroit.

"After spotting an auction ad in the back of a newspaper only weeks ago, he decided to bid $583,000 (U.S.) for the Pontiac Silverdome, the former home of football's Detroit Lions. The president of Toronto-based Triple Properties Inc. put a $250,000 deposit in the mail, with only online documents from the auction house to guide him."

Canadian Buys Pontiac Silverdome

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Guest3722A]

That's an amazing story!! Wow!!

 

[andrew_woolman]

It's certainly something that I'm looking at. It's a tough gig making a 7% rental return on real estate in Australia, which is a bit below the current interest rates here - we've just had another rate rise last week. Capital gains is another story, but it's cashflow from rental income streams that will keep you from your desk job, not long term capital gains. Capital gains are just the icing on the cake.

 

[Rickson9]

Capital gains is another story, but it's cashflow from rental income streams that will keep you from your desk job, not long term capital gains. Capital gains are just the icing on the cake.

That depends on an individual's situation. I use stocks for capital gains and real estate for cash flow. I don't consider one better than the other. Both have their respective advantages, disadvantages and place in an individual's portfolio.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[michael]

It's certainly something that I'm looking at. It's a tough gig making a 7% rental return on real estate in Australia, which is a bit below the current interest rates here - we've just had another rate rise last week. Capital gains is another story, but it's cashflow from rental income streams that will keep you from your desk job, not long term capital gains. Capital gains are just the icing on the cake.

Tell me where you are finding residential real estate yielding 7% in Australia. 100km in any direction from the Sydney CBD you'd be hard pressed to find much better then 5-6%.

Commercial real estate is another story 8-12% yields with good tenants are not unheard of if you know where to look and you generally get better finance deals with it.

 

[andrew_woolman]

Tell me where you are finding residential real estate yielding 7% in Australia. 100km in any direction from the Sydney CBD you'd be hard pressed to find much better then 5-6%.

Commercial real estate is another story 8-12% yields with good tenants are not unheard of if you know where to look and you generally get better finance deals with it.

Like I said, it's a tough gig. I've got a couple of places in Adelaide ( Google Maps -for those outside Aust) which are hitting the 7% mark. Nathan Birch seems to be doing alright at it, investing in rural New South Wales - not my choice, but horses for courses.

 

[hakrjak]

Sounds like there is a good niche for selling cashflowing rental property to foreigners who want to capitalize on the week dollar?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Rickson9]

Sounds like there is a good niche for selling cashflowing rental property to foreigners who want to capitalize on the week dollar?

I'm positive that it is already happening.

http://floridahomefinders.ca