Still Irish interest in USA property?

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Anything In

Guest
Hello Everyone

I am new to the forum and was just wondering, where have all the investors gone? I am in realestate in Florida and have noticed a dramatic change in the overseas inlfluence here. It seems as if many investors are pulling out. Has there been a lot of bad press on US investments there lately?
I look forward to hearing from everyone. Thank you

Jim
 
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Re: Still UK interest in USA property?

Ireland is not part of the UK, and this is an Irish website, so I doubt anyone here knows the answer to your question
 
Re: Still UK interest in USA property?

Long and unwieldy as it is, you may want to have a look at this thread.

Also this is an IRISH site and we have no connection with the UK!
 
Re: Still UK interest in USA property?

Sure CCOVICH you are only a stones throw away from Londonderry!
 
Re: Still UK interest in USA property?

markowitzman said:
Sure CCOVICH you are only a stones throw away from Londonderry!
Click to expand...

Do you really want a ban, or do you write for the Sunday Times?
 
My sincere apologies... Didn't mean to offend anyone by grouping everyone into UK. I am changing the post to reflect how it should read. I have heard nothing but good things about Ireland’s economy. Where are the investors putting their money? Any thoughts on the Eastern Europe properties? What is the common thought on Florida property in Ireland? Thank you
 
Irish investors are busy putting air in the local and overseas property bubbles.
What sort of property do you sell?
What are rental yields and occupancy levels?
Are prices stagnant or still rising?
 
markowitzman

Well, I am in a group who looks for secure investment projects in the US that come with many investor incentives. Since we have so much buying power we are buying property always less then market value before it is made available to the public. We look for projects in proven growth areas and not the hyped up areas always advertised. As far as the rentals go, I can give you an example of a project we have in Tampa, Florida right now. For investors they have a guaranteed rental program, 98% occupancy, and free property management, to name just a couple of the incentives. If you want more details send me an email of leave me yours and will send full details on that project.
These investments are not expensive and I am constantly hearing of many investing into eastern European countries and then the horror stores behind those projects. Granted, you will hear stories from the US as well but at least here you have legal protection and market security.
The hyped up craze on short term let proprieties near Disney is blown to capacity and if we use the term bubble, that on is definitely leaking. I still do some of these properties but you’re looking at a total reversal in the market. The buyers in the market here are having a ball and have the pick of the litter. Everyone is trying to capitalize on their new build homes and finding that no one wants to pay them for it. It is all a big circle here and will come back round again, however it is a total buyers market at present in this area. Now we are to look for investments in areas that big changes and growth is happening and find the property to be had. The Tampa project was chosen for many reasons however one big reason is that a very large marketing company is opening a new site right next to this project, bringing in 5000 new jobs. This alone has brought many on board.

yourfldreamhome@earthlink.net
 
hi

Your scheme seems interesting but just wondering how do u make ur piece of the take whats your take home. In response to your question at the start bad press US property I guess it seems like it, im a regular reader of CNN money's real estate section and even a cursory glance at anytime on the site will reveal quite dire predictions for many of the "hot markets" souther california nevada florida etc. Like many anglo saxon countries australia england Ireland South Africa and most of the US have witnessed a huge increase in real estate asset values over the last few years. MANY but not all of these markets are beginning to run out of steam as people realise the party cant go on forever and many assets are way over valued
in the same way as tech stocks were in the 90's. Im not saying I know your market and indeed florida has many driving factors which other markets dont but in terms of value and future price uplift is florida and many of the hot markets in the US at the top of their curve?

Your suggestion that it has become a buyers market does lead me to beleive that we are looking at a market riding the last wave of the boom
and you might get more value if you hold out or am I way off here?
 
Anything In said:
I am constantly hearing of many investing into eastern European countries and then the horror stores behind those projects.
Click to expand...

In which countries have you heard horror stories?

Anything In said:
Granted, you will hear stories from the US as well but at least here you have legal protection and market security.
Click to expand...

Hungary and Poland, two of the most popular overseas investment destinations for Irish people have very established and open legal systems. Where are you referring to when you suggest that Eastern Europe doesn't have good legal protection in place for property investments?
 
Would you really invest money where any one can get shot legally for "looking dangerous"?
Does the beach cost money? As far as I know one can buy a piece of beach there, but a piece of a seabed? Think about the rising sealevels-and the next hurricane season....Who would buy land/property in New Orleans, in all earnest?
 
I don't know much about the Floriday market but I live in Colorado and the house bubble here has burst. Houses in our area have dropped about $10k in the last year. Really depressing. From what I have read the property boom in the USA is over and many markets are now seeing falling house prices and negative equity. Interest rates are on the way up over here which will depress prices and new house sales have fallen. Again, USA is a big place and it is hard to generalize the whole country so maybe Florida is doing O.K. I would just be cautious though and with all the hurricances Florida has seen recently I wonder if the tourism trade is not suffering?
 
Anything In.
By 2030 there will be no Tampa or no Southern Florida so I will stick with longer targets. The trouble is where is safe anymore. I am buying in Bratislava at the moment and the Danube was up 4 metres this week.
 
When we look at the BUBBLE in Florida, here we are thinking of the short term. What drive our markets crazy (in tourist hot spots) was the new-build short term craze. Investors where buying new-construction turning and flipping on completion making a mad profit. Builders were starting to capitalize and inflating prices and next thing, everywhere you look new homes coming up. The short to let market here is flooded. Sellers are forced to let their properties go for a loss in some cases opening up these homes as good deals for those who held out the rush. I have been advising my investors to look at the longer term investments as everyone is thinking. The projects I had mentioned before are most likely a 3-5 year investment. They are long term rentals and will be yielding a steady stream of rental rather than the short term rental guarantees that are sketchy at best. In Florida anyway the long term investments are now the target. Until a new hot market emerges in another state.
 
Anything in.

It’s widely reported in the American press that the Floridian property market has seen a massive run up in inventory; and falling prices. Are you suggesting that now is a good time to get into a market that has just started to crash? Sounds like ‘catching falling knives’ to me . The Fed may raise rates a couple of more times in the coming months, it seems that quite a supply of new housing, in the process of development, is yet to hit a market already awash with supply.

I’ve heard that some investors are constructing ‘Vulture Funds’ to pick over the bones of the Florida market but I can’t imagine that these guys will start looking in earnest until their prey is definitively dead.
 
Kinda scary. American realtors are trying to pimp the Irish throug blog sites. They must be getting desperate. Trust me, stay out of Florida!!
 
I went to Disney and fell for the trap set by the realtors...they had a stand setup in the hotel that looked like it was for information about bus, taxi, disney tickets etc...

Turns out they had an unbeatable offer on cheap disney tickets...all i had to do was agreee to go on a tour of some property...

Can you imagine? Bringing over your children for their first visit to Disney, then piling them into a car and taking an undertermined amount of time to tour the local swamp...i mean housing sites...

I declined, but the next morning as I boarded a free bus to Disney I saw some people being piled into a car by a guy in black suit with dark glasses...looked like he was straight outta the mafia...
 
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