Noel and Kathi from Queensland are a great example of the type of smart, savvy, and adventurous Australians buying American real estate as a new and exciting way to invest their money.
Happily married for many years, this couple began investing in Australian property about 10 years ago. Together they’ve tried many property investment strategies: buy and hold, buy and sell, renovating, and even subdividing. They were so successful with their investments that three months ago the couple quit their full-time jobs to concentrate on property investing.
Since Noel and Kathi made it a rule to only invest in cash flow properties – which are becoming harder to find in Australia – they both agreed their next step was to take a look at properties in America.
“I did some investigation into it and it looked quite promising,” says Kathi. “I asked my husband, who has an accounting background, to take a look at the figures. He did and was quite excited about it. So between the two of us, we thought it was well worth our while to go over and take a look and see exactly what was going on.”
In November 2011, the couple joined Property Women on their USA tour of four different cities in Florida. The tour allows potential investors to see what each location has to offer while experts guide them through all the intricacies of investing in foreign property. The tour was ideal for the couple who preferred to see property for themselves and meet contacts face-to-face.
“We were certainly happy with what we saw over there,” says Noel. “We spent a full day with a real estate agent looking at a lot of property. That was very, very useful. We ended up having an offer accepted that was settled in a couple of weeks. That was just the beginning of the excitement. We actually made a couple of other offers on properties that we’ve since settled on.”
They paid between $30,000 and $40,000 for each of their properties – the same price many Australians spend on a car.
“A car depreciates and eats up your money,” Noel says. “A house will appreciate and put cash in your pocket. That sounds like a pretty good deal to me. To me the risk is not huge. People go out and spend $30,000 to $40,000 on a car all the time, and they know that in five years that car will be worth half the price. I don’t have that same concern with my houses. In fact, I’m pretty sure they’ll be worth double the price.”
In the meantime, Noel says he is making a profit of $200 a month from rent on two of the properties he purchased.For those interested in purchasing property in America, Noel and Kathi have the following tips:
Do your research.
Join the Property Women USA tour to meet reliable contacts and gain more confidence by going with a group.
Have good property management in place.
Property Women will offer another USA tour in April/May 2012 for investors who want to see for themselves why Florida real estate presents the opportunity of a lifetime. The tour will provide invaluable lessons about buying property in America, provide a chance to network with like-minded investors and make new friends, and have fun at the same time.
The tour also provides an introduction to a wide range of contacts; however, Property Women is an independent company that does not sell property. As a result, there is no pressure to buy, although the opportunity and assistance is available for those who do wish to invest there.
For those interested in joining Property Women on their USA tour in spring 2012 for this rare and unique opportunity to visit Florida, examine properties at rock bottom prices, and have some great fun along the way, please visit their website at www.propertywomen.com.au/go/yip1
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