American/USA property investment?

MoneyJuggler

Anyone had any experience or got opinions on buying a property in the US as a rental investment?

I know the property market has crashed,but I've read quite a lot about Memphis,and Atlanta, where apparently a $60k house fully managed can return 10% ish after fees, and there are some UK companies offering these deals, one called Assetz.

Thanks for any advice.

atush

You will open yourself to a currency risk.

I haven't heard of that company, but owning a rental home individually is full of headaches. So a fund would be good if they are reputable and not a ponzi scheme.

TBH, there are places in this country where you can buy and renovate a home for less than that (ie Stoke or the welsh valleys) and get a 10% return too.

MoneyJuggler

atush wrote: »

You will open yourself to a currency risk.

Yes, that's actually part of the appeal -spreading some investment into another currency.

atush wrote: »

I haven't heard of that company, but owning a rental home individually is full of headaches. So a fund would be good if they are reputable and not a ponzi scheme.

TBH, there are places in this country where you can buy and renovate a home for less than that (ie Stoke or the welsh valleys) and get a 10% return too.

Thanks for that, will also look in UK as well.

jimjames

There was another post some months ago about something similar and it may be the same company.

How can you know what you are buying unless you visit personally and arrange via your own solicitor? It seems very unlikely that the returns quoted would be achievable or US residents would already be doing it.

If it looks too good to be true....

blinko

jimjames wrote: »

There was another post some months ago about something similar and it may be the same company.

How can you know what you are buying unless you visit personally and arrange via your own solicitor? It seems very unlikely that the returns quoted would be achievable or US residents would already be doing it.

If it looks too good to be true....

Agreed ! OP you haven't thought this through

shaun_from_Africa

When looking at the property description, if you see anything that states "Chinese drywall", hit the back button as fast as you can.

MoneyJuggler

jimjames wrote: »

There was another post some months ago about something similar and it may be the same company.

How can you know what you are buying unless you visit personally and arrange via your own solicitor? It seems very unlikely that the returns quoted would be achievable or US residents would already be doing it.

If it looks too good to be true....

Thank you, good points -I'm doing some research now, and if I were to think of progressing would go out to have a look , definitely.

I think a lot of US residents are buying to let as well , the rental market seems to be picking up due to a government scheme to pay/contribute to rents, again I'm looking into a lot of this, hence the OP.

So far I've checked the website of the company which appears to have been going since 1999, and the only other information I have found so far is over on housepricecrash.co.uk , where they don't think very highly of the ceo -mainly it seems because he keeps talking up the property market.

Am definitely proceeding with extreme caution, if at all!

Thank you for the posts.