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Canadian Investors: Learn about distressed US real estate from my experience
Fellow Canadians: Before you make that foray into Las Vegas, Phoenix, Texas, more...and Alabama:
Learn about distressed US real estate from my experience
Are you thinking of buying into US properties? You've read about the rules, regulations, but what is it really like "on the ground", to own single and multiple family homes in cities in New York state?
Some of my 21 units came from In-Rem auctions. These are good deals, if done right.
The G.R.M. (Gross Rental Multiplier, as defined by real estate guru Raymond Aaron) were less than 2X, in theory, on some of In-Rem auction acquisitions.
Compare that to the GRM of 5.5X to 8.2X in my Ontario "university area" rental properties, at the time.
Overall, I would have made money in the U.S. if it were not for one very, very large mistake.
However, I wasn't the only Canadian who lost. According to a magazine study, fully 80 percent of Canucks who went South Of The Border to invest did not make any money. Even though we learned at lot by joining the New York State Real Estate Investors.
So, what were the major mistakes and pitfalls in US real estate deals?
Well, I'd love to share my anecdotes with you.
Boy, do I have stories to tell.
My lunch-lecture fee may be the smallest "loss" that you may experience. If I only knew then what I know now, I'd have shaved about $125K from my loss in investing in US distressed properties.
To book me for a one-on-one lunch lecture, lunch included:
6 0 4 - 5 1 2 - 9 5 6 7
or
6 0 4 - 9 8 0 - 7 1 9 7
MatthiesR at yahoo dot ca
Canadians: Learn distressed US real estate investing from my experience
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TAGS AND KEYWORDS: DISTRESSED US PROPERTIES REAL ESTATE INVESTING SALES FORECLOSURES FORECLOSED IN-REM AUCTIONS RAYMOND AARON GRM GROSS RENTAL MULTIPLIER
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