Tag Archives: IRR

THE AMERICAN DREAM

Following my articles of the relative costs of American real estate I was asked about buying in the USA vs buying here.

The answer is simple – DON’T.  if it were that easy, everyone would be doing it and the US real estate market would be a STAR performer for everyone.

A website was brought to my attention so I decided to research a property they have advertised for about $50,000.00 in an area that I’m generally familiar with.  With the power of Google [TM] I fail to see how people cannot, will not or are just not capable of doing their own research.  American Government Agencies at all levels have a remarkable amount of information available online – not private individual information but they are MAD KEEN on hard facts and, yes STATISTICS.

In ten minutes I found that this property is in an area where the average similar house price is $25,000.00 (no surprise there – this Anglo-American company are a bunch of “flippers”).  Alarmingly the statistics for all sorts of violent crimes are up to three times the USA average per head of population.  The population of this township is less than 2,000!  No-one in their right mind buys a rental property in a one-horse town – way too easy for the house to be vacant and quickly derelict in no time at all.  And then there is Google Street View!  WOW – this is where you find they’ve photo-shopped the photos of the house but more surprisingly is when you pan left and right and take a “virtual walk” up and down the street.  Looks like a scene from an END TIME Movie – good grief – SCARY does not begin to describe the scene.

Anyone who buys anything from these Scammers, sight unseen, is a  FOOL!

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ENDORPHINS

People become emotionally tied up in a residential real estate purchase.  Real Estate agents just ‘love it’ when someone shows all the hallmarks of being in love with a property.

Your brain turns to mush and all sorts of uninhibited emotions take over as you stare quietly into the magnificent view, run your hands tantalisingly over the smooth marble finishes and imagine yourself surrounded by admiring friends as they ooh and ahh over your clever and astute purchase.

Remember the sound when a needle falls off an old fashioned vinyl record?  That’s the sound that careers through your head as the realisation you’ve been duped arrives like an unwelcome freight train in the middle of the night.

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