I am wanting to invest in forclosed properties - guide me how to buy?petersharma58@gmail.com

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I am in Australia. I am searching for forclosed homes to buy in America. Can some one guide me how to buy-what to look for - I am an Australian citizen-would I be buying through a Limited Liability Company registered there or Delaware (some say there r some tax advantages)- are there any good relaiable real estate agents some one can reccomend- any one give me an idea where it would be best to invest in USA. Since I have NO IDEA about USA as I have never been there - ANY ADVICE - NO MATTER HOW SMALL WOULD be greatly appreciated. petersharma58@gmail.com
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March 29 2010 - Elyria
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Profile picture for Robert Pfeiler
There are foreclosed homes in every state in the USA. Some states have significantly more foreclosures i.e., California, Nevada, Florida, and Arizona. Usually agents are licensed in the individual state they work in. My best advice is to choose one state you'd like to be able to visit and start there. The other important consideration is how much money is your LLC going to invest and what are it's investment goals? Buy and Hold? Flip? The reason these questions are so important is the median price of a house can vary quite significantly depending on the state. I only know about California and we are significantly more expensive, even in a down market, than other states like Nevada, and therefore you would burn through your capital much more quickly. Good luck. If there was ever a time to do this, now is it.
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March 29 2010
My suggestion is that you make a trip to America. And find in the best area you can afford.  Remember it is all about location, location, location!  Find where you want to invest and then find an agent that knows that area and distressed properties.  There are plenty of Foreclosed properties on the market and coming up on the market.  If you have plenty of cash, you might want to learn about buying bulk REOs from the bank.
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March 29 2010
 

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QuestionI am wanting to invest in forclosed properties - guide me how to buy?petersharma58@gmail.com
  • Latest answer by Robert Pfeiler
  • March 29 2010
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