Home › Forums › Financial Markets/Economics › ausie buyers warned off of US Property investment
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patb.
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January 1, 2011 at 11:30 AM #18339January 1, 2011 at 5:55 PM #646981
EconProf
ParticipantThis Sidney newspaper article gave good advice that is pretty much universally true: don’t buy far from home, don’t trust the intermediaries pushing such investments who have a stake in your decision, and expect high expenses and lagging revenues because you can’t be there to manage it. Since Australian real estate has boomed due to their resource-rich economy and proximity to China, the investor cited would have reaped huge returns by investing at home.
January 1, 2011 at 5:55 PM #648100EconProf
ParticipantThis Sidney newspaper article gave good advice that is pretty much universally true: don’t buy far from home, don’t trust the intermediaries pushing such investments who have a stake in your decision, and expect high expenses and lagging revenues because you can’t be there to manage it. Since Australian real estate has boomed due to their resource-rich economy and proximity to China, the investor cited would have reaped huge returns by investing at home.
January 1, 2011 at 5:55 PM #647776EconProf
ParticipantThis Sidney newspaper article gave good advice that is pretty much universally true: don’t buy far from home, don’t trust the intermediaries pushing such investments who have a stake in your decision, and expect high expenses and lagging revenues because you can’t be there to manage it. Since Australian real estate has boomed due to their resource-rich economy and proximity to China, the investor cited would have reaped huge returns by investing at home.
January 1, 2011 at 5:55 PM #647639EconProf
ParticipantThis Sidney newspaper article gave good advice that is pretty much universally true: don’t buy far from home, don’t trust the intermediaries pushing such investments who have a stake in your decision, and expect high expenses and lagging revenues because you can’t be there to manage it. Since Australian real estate has boomed due to their resource-rich economy and proximity to China, the investor cited would have reaped huge returns by investing at home.
January 1, 2011 at 5:55 PM #647054EconProf
ParticipantThis Sidney newspaper article gave good advice that is pretty much universally true: don’t buy far from home, don’t trust the intermediaries pushing such investments who have a stake in your decision, and expect high expenses and lagging revenues because you can’t be there to manage it. Since Australian real estate has boomed due to their resource-rich economy and proximity to China, the investor cited would have reaped huge returns by investing at home.
January 2, 2011 at 8:14 AM #647129Jazzman
Participant[quote=patb]http://smh.domain.com.au/real-estate-news/buyers-warned-of-risks-in-bargain-us-homes-20110101-19ciy.html
Some of the properties being offered are in ghettos and you need a bullet-proof vest and an armoured Humvee to collect the rent in there,” Mr Jenman says.
[/quote]
Literally, true. I was in South Central looking at income properties with a broker, when I car pulled up nearby, fired several shots at some people who were just hanging out, and sped off. “It’s just firecrackers” didn’t swing it for me.January 2, 2011 at 8:14 AM #648175Jazzman
Participant[quote=patb]http://smh.domain.com.au/real-estate-news/buyers-warned-of-risks-in-bargain-us-homes-20110101-19ciy.html
Some of the properties being offered are in ghettos and you need a bullet-proof vest and an armoured Humvee to collect the rent in there,” Mr Jenman says.
[/quote]
Literally, true. I was in South Central looking at income properties with a broker, when I car pulled up nearby, fired several shots at some people who were just hanging out, and sped off. “It’s just firecrackers” didn’t swing it for me.January 2, 2011 at 8:14 AM #647851Jazzman
Participant[quote=patb]http://smh.domain.com.au/real-estate-news/buyers-warned-of-risks-in-bargain-us-homes-20110101-19ciy.html
Some of the properties being offered are in ghettos and you need a bullet-proof vest and an armoured Humvee to collect the rent in there,” Mr Jenman says.
[/quote]
Literally, true. I was in South Central looking at income properties with a broker, when I car pulled up nearby, fired several shots at some people who were just hanging out, and sped off. “It’s just firecrackers” didn’t swing it for me.January 2, 2011 at 8:14 AM #647056Jazzman
Participant[quote=patb]http://smh.domain.com.au/real-estate-news/buyers-warned-of-risks-in-bargain-us-homes-20110101-19ciy.html
Some of the properties being offered are in ghettos and you need a bullet-proof vest and an armoured Humvee to collect the rent in there,” Mr Jenman says.
[/quote]
Literally, true. I was in South Central looking at income properties with a broker, when I car pulled up nearby, fired several shots at some people who were just hanging out, and sped off. “It’s just firecrackers” didn’t swing it for me.January 2, 2011 at 8:14 AM #647714Jazzman
Participant[quote=patb]http://smh.domain.com.au/real-estate-news/buyers-warned-of-risks-in-bargain-us-homes-20110101-19ciy.html
Some of the properties being offered are in ghettos and you need a bullet-proof vest and an armoured Humvee to collect the rent in there,” Mr Jenman says.
[/quote]
Literally, true. I was in South Central looking at income properties with a broker, when I car pulled up nearby, fired several shots at some people who were just hanging out, and sped off. “It’s just firecrackers” didn’t swing it for me.January 2, 2011 at 8:36 AM #647856carlsbadworker
Participant[quote=EconProf]Since Australian real estate has boomed due to their resource-rich economy and proximity to China, the investor cited would have reaped huge returns by investing at home.[/quote]
I strongly disagree. If US housing market was considered a bubble, by no means one can deny that Australian real estate isn’t a bubble at the moment.
http://seekingalpha.com/article/227083-the-great-australian-housing-bubble
January 2, 2011 at 8:36 AM #648180carlsbadworker
Participant[quote=EconProf]Since Australian real estate has boomed due to their resource-rich economy and proximity to China, the investor cited would have reaped huge returns by investing at home.[/quote]
I strongly disagree. If US housing market was considered a bubble, by no means one can deny that Australian real estate isn’t a bubble at the moment.
http://seekingalpha.com/article/227083-the-great-australian-housing-bubble
January 2, 2011 at 8:36 AM #647719carlsbadworker
Participant[quote=EconProf]Since Australian real estate has boomed due to their resource-rich economy and proximity to China, the investor cited would have reaped huge returns by investing at home.[/quote]
I strongly disagree. If US housing market was considered a bubble, by no means one can deny that Australian real estate isn’t a bubble at the moment.
http://seekingalpha.com/article/227083-the-great-australian-housing-bubble
January 2, 2011 at 8:36 AM #647061carlsbadworker
Participant[quote=EconProf]Since Australian real estate has boomed due to their resource-rich economy and proximity to China, the investor cited would have reaped huge returns by investing at home.[/quote]
I strongly disagree. If US housing market was considered a bubble, by no means one can deny that Australian real estate isn’t a bubble at the moment.
http://seekingalpha.com/article/227083-the-great-australian-housing-bubble
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