buy to let USA

pk2

has anyone got any experiance or advice on buy to let in USA?

i saw an advert in a sunday paper for a company offering properties from as little as £20k with rental income of £330+ a month.

sounds too good to be true! could it be a scam?

Baldur

pk2 wrote: »

sounds too good to be true!

.......and it probably is.

Blah99

Visit thedibb.co.uk and form your own opinion. They have a forum dedicated to btl there, most of whom say it's hard and getting harder.

RayWolfe

pk2 wrote: »

i saw an advert in a sunday paper for a company offering properties from as little as £20k with rental income of £330+ a month.

If they could do that, why would they let you in on it?

mrposhman

I actually don't think its getting harder (certainly not from the occupancy rates that I have been getting in 2009 compared to 2008).

Having said that if you can really make that amount of money (£330 * 12 = £3960 / £20,000 means you have an annual return of just under 20% :eek: ) then you wouldn't be offered it. Don't you think those in the know would be taking them up. Earning 20% interest is crazy!!

I bought my house in Orlando for $232k and am getting in the region of $1,000-$2,000 a month depending on how the market is (I've only got over $1,500 twice in the last 9 months), meaning that on average I may get about $15,000 annually.

Once costs are taken out (and I have no mortgage) that may be about $10,000 or possibly lower meaning that my return (and this is on the goodeside) would be about 4% highlighting how if you can achieve that return its amazing especially in the current economic climate.

IMO - Its a con