property investment in the US

Roski

Much is being made of the recent downturn in property values throughout the US. I have read media reports of overseas buyers snapping up property for very little money. The most recent article I read was in reference to property in Detroit. The financial problems in Detroit seem quite severe and I guess one would have to be game to invest there, although this is just my opinion from what I have read. I would be intersted to hear ideas/opinions from anyone interested in (or with experience of) property investment, or just information relating to the overall property scene in the US. Relying solely on the media for information is asking to be mislead. While I can look at propety sites on the net, I would value personal input/observations re trends or possible places to invest. Thanks to anyone taking the time to answer.

megaflower

Any commission for info given if a purchase is made?

beksbks

Hey Roski, I almost started a thread like this myself. Go peeps, where can we buy for cheap? Wait. Roski? Are you American????

Roski

beksbks - No, I'm not American so I would need to do a lot of research before doing anything in the US - different laws etc, but property is something I'm interested in. Lots of fun (usually).

megaflower - I'm not interested in any specific property - just interested in getting a general feel for the property market that one can't get from the media.

Thanks...

quietlyleaving

I understand from a television program I was watching that Florida has some very nice properties for sale and very cheap too. We were shown several four bedroom spacious houses, with swimming pools close to good schools and in community settings ranging from £160,000 - 200,000 . (Bring your own job though)

Hittman

Here are some Detroit properties you can get a good deal on:

http://www.time.com/time/photogallery/0,29307,1882089,00.html

leavingwt

Shortest Essay on the Planet: Large American Cities Worse than Detroit

Set your sights a little higher, my friend.

JeffT

You too can be a slumlord. See what leavingwt said.

I work in investment property (mostly apartments) and have for the last 25 years or so. It is a very tough business, and right now it is tougher than normal. Banks aren't loaning much money and distressed properties (what you'd buy for those cheap deals) require a lot of money. Laws very from place to place and can severely impact your relationships with tenants - such as what you have to do to get them out when they don't pay you.

Fast flips (buying a place doing some work and selling it for more) simply aren't happening in this economy.

LouBelle

Property trends worldwide show have been on a downward spiral for quite sometime. Considering the dollar is quite strong how about buying South Africa - $100 000 would buy you a VERY decent holiday home in Durban - on the east coast of SA - one of THE best places to stay - fantastic summers, mild winters. If you got more to spend you could look at the fabulous cape - esp Camps Bay

But property should be on the upward swing again...near the end of the year I'm sure will see a bit more of an increase again.

Farkel

:I have read media reports of overseas buyers snapping up property for very little money.

In the 1970's the Iranians were buying up property in the US. People were claiming they were buying up much of the Country.

In the 1980's it was the Japanese. People claimed the same thing.

The fact is, the biggest foreign real estate investors are the British, followed by the Canadians, and Japanese. Although this was a while ago, I read that the total foreign investments in US real estate represented 5% of all real estate.

Who owns 85% of all US real estate? The government, federal, state, county and city. If you want to be alarmed about anything, that is something to be alarmed about.

Farkel

property investment in the US

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