Thinking about buying an investment property in America.

@suehan1 (4355)
Australia
March 5, 2011 2:10am CST
Can anyone help me here as I would like to know about what growth areas are in America. I am currently looking at properties in Memphis and Florida which have a good growth history.I would like some suggestions if anyone knows a bit about real estate there.? My son has finally got his inheritance and would like to invest in property. Thanks for your help. Cheers Sue
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2 responses
@RawBill1 (8542)
• Gold Coast, Australia
23 Mar 11
A friend of mine returned from a seminar in the USA last month on property investment. A lot of people are attracted to buying in the USA because property is so cheap compared to hear, but he said that you still have to be very careful and research well. He said that not only can picking the wrong suburb or city be disastrous, but also the wrong street! He said that prices can vary radically from street to street in the same town. There is a company here on the Gold Coast that specialises in buying real estate in the USA as well for people. They act as an agent I guess.
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@suehan1 (4355)
• Australia
23 Mar 11
Hi Bill That company in the Gold Coast is the company I am dealing with. They only have houses in high growth areas and are good properties with tenants. They are cheap compared with Australia and I have researched them. It would go into a trust for my son and potentially he could earn a lot of money. For $200,000 he could own about 5 houses. These house are under valued and we are dollar for dollar at the moment which makes these houses a good investment.I forgot you lived on the Gold Coast. My friend lives at Oxenford and I go up there a few times a year to do the theme parks with my son, its beautiful up there. Cheers Sue
@RawBill1 (8542)
• Gold Coast, Australia
23 Mar 11
I have not had anything to do with the company, just noticed them on the Gold Coast highway at Mermaid Beach I think it was. Yes, with the Aussie dollar being high it makes a huge difference when you are spending that kind of money. We import a lot of goods in the USD so it has been really good for us lately. Makes the MyLot payment smaller each month though! It is nice here, but getting a little crowded for my liking. And too many roadworks all the time!
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@suehan1 (4355)
• Australia
26 Mar 11
Yes I noticed a lot of roadworks last time I visited there. What do you import from the U.S. Cheers Sue
@scheng1 (24755)
• Singapore
5 Mar 11
Hi Suehan, wow, that is a very big investment. Hope it works out for you. I think you can buy Rich Dad Poor Dad books and read about his experience in real estate. I think he mentions a few cities a few times. That is better than asking from people who do not really notice about things in their own city, much less on the whole country. If really cannot find a suitable place, I guess New York is the logical choice. The whole world knows about this city.
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@suehan1 (4355)
• Australia
6 Mar 11
Thanks for the suggestion of that book. I think New York is a bit too much for me, but around Memphis and Michigan you can pick up a few bargains. Thanks Cheers Sue