Thread: where are the best bargains right now?

Well, it is hard to invest in something without knowing the area - so I suppose the first answer we need - what are you looking to invest in? FC? Wholesale? Commercial? Retail? Industrial? etc...

Next is it is best that unless you are moving to the US, you will need to find someone to do your leg-work - or you position yourself as just the money-man and you partner/fund someone that constructs the deals in the US, and you fund them according to what is agreed upon - though being an off-shore investor, the monies will be scrutinized and there will be red-tape to deal with - you know the US doesn't want to have terrorists/money launderers/drug dealers making their profits/cleaning their dirty money. (Not saying that is YOUR case, but the laws are there.)

Added: To be an off-shore investor really requires that you trust the organization/person on the "other side" so that you are protected from being scammed as well. - I don't think I have that type of trust for people I haven't met/don't know.

So to answer your question is near impossible, since in EVERY market there are good investments and bad - irrelevant of the area. Money is to be made everywhere.

Later!

Deals are in every market, but you have to know who to trust and feel comfortable with. Also, your exit strategy is the most important thing.

Most newbie investors get burned because they enter with a bad exit strategy or now exit strategy at all.

Originally Posted by First Time Home Buyers

Most newbie investors get burned because they enter with a bad exit strategy or no exit strategy at all.

Yep - I see that all the time - a newbie goes to one of those "free" (or even paid) real estate trainings, not knowing that they are really sales pitches, (hence the REI Training Warehouse - give training, not sales pitches, [I was fed up with the crap out there,]) where they are given a very little bit of information - and they think they have it all down. Then they get involved with RE right from that little training - to later find out they are now in a world of hurt.

Knowing how you are going to exit needs to be known first, before you make the offer - you might think that is "backwards thinking" but how do you know what is a good deal - if you don't know what you plan to do with it?

I can't share where I'm massively buying right now and where I'll be buying massively next fall/winter.
PMme and I'll let you know...

thanks for the input lads!

I see you' re telling me I could look anywhere, any state. Ok.

I had started looking at Vegas and Miami as I had heard these were the places that had been hit the hardest, but I will look at other places as well.

Thanks!

Originally Posted by REITrainingWhse

Well, it is hard to invest in something without knowing the area - so I suppose the first answer we need - what are you looking to invest in? FC? Wholesale? Commercial? Retail? Industrial? etc...



So to answer your question is near impossible, since in EVERY market there are good investments and bad - irrelevant of the area. Money is to be made everywhere.

Later!

Exactly. There are definitely deals to be had and money to be made everywhere, but in this market especially you need to be careful of those you place your money, investments - and trust in.

On a different note, good luck getting into the US market! It's probably possible to get a good deal in most, if not all, areas in the US RE Market. I have also heard about the deals in Las Vegas and Miami-areas, but haven't seen anything particular about them that makes them stand out from the rest. Although those areas definitely have a really low selling price now as compared to a few years ago, and a plethora of foreclosures, I would recommend buying a property through regular sale as opposed dealing with the bank. They can often lengthen escrow and be hard to bargain with. I know of a sale around here where a man whose house was being foreclosed on wanted to take all the windows out of his house and the bank wanted the same selling price. Some people these days...

Yes, looking in the areas that went up the most and then down is a good start. You want to make sure the area has stabilized and has future signs of permanent recovery. I think Vegas is getting there and offers a great long term outlook

Hi,

If you would like to stay in Europe and still invest in real estate related arenas in the United States, I would recommend pursuing Government Secured Tax Lien Certificates. You do not have to be a US citizen to participate in these tax lien sales in most counties of the US. Also, there will be over 400 tax lien sales that will take place through the internet in the year 2010. Lots of counties on Florida will have internet sales, and FL is a great state to purchase tax lien certificates in. Due to the internet age, in most counties you can do all of your research on the proprty titles from home using your computer.

With tax lien sales you are not purchasing the property, you are only purchasing the delinquent tax lien that the county has been forced to place on the property due to non-payment of property taxes. In Florida you can earn as much as 18% annually, although you will most likely lock in guaranteed returns from 12-15%, based on competition with other investors.

Many states in the US have what are called Tax Deed Sales, this is where you will actually be purchasing the property with the bidding starting at the total amount of delinquent taxes owed on the property. I urge you to stay away from purchasing any property at a tax deed sale unless you have seen it with your own eyes, or someone you trust has gone to see it.

Let me know if you need further information, I would be happy to point you in the right direction...

thanks for the input guys, much appreciated.

taxlienadvisor, sent you a PM.

enthousiast., this is exactly my impression right now: finding deals in the US isn' t a prob, but knowing exactly what I' m buying is. Here in Belgium things are easier, no way to get scammed as things are extremely seriously regulated.