ausie buyers warned off of US Property investment

This topic has 45 replies, 6 voices, and was last updated 13 years, 10 months ago by patb.

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January 1, 2011 at 11:30 AM #18339

patb
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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.

January 1, 2011 at 5:55 PM #646981

EconProf
Participant

This 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 #648100

EconProf
Participant

This 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 #647776

EconProf
Participant

This 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 #647639

EconProf
Participant

This 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 #647054

EconProf
Participant

This 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 #647129

Jazzman
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 #648175

Jazzman
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 #647851

Jazzman
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 #647056

Jazzman
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 #647714

Jazzman
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 #647856

carlsbadworker
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 #648180

carlsbadworker
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 #647719

carlsbadworker
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 #647061

carlsbadworker
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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