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buy to let USA

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?

Comments

  • Baldur
    Baldur Posts: 6,565 Forumite
    pk2 wrote: »
    sounds too good to be true!
    .......and it probably is.
  • Blah99
    Blah99 Posts: 486 Forumite
    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.
    Mmmm, credit crunch. Tasty.
  • RayWolfe
    RayWolfe Posts: 3,045 Forumite
    1,000 Posts Combo Breaker
    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
    mrposhman Posts: 749 Forumite
    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
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