Why did you want to invest in US property?
The main attraction was both yield and price. My youngest is off to university and I thought it would be a good idea to have some extra income to pay for that and then to keep the properties longer term to make some money.
Why did you chose PCG Invest?
I did quite a bit of research on cheap nfl jerseys the various companies out there and read all the comments online. Then I got my son who is a solicitor to have a look and do due diligence. PCG came across as the best, so decided to invest. Bought my first property in May and now have ten.
How did the financing work?
I initially tried to use my building society to make the transaction, but it was really difficult so then I started using WorldPay who I would recommend – and you can negotiate with them on exchange rates. Natalie and the team at PCG Invest were really helpful, they liaised with the vendors because of the initial delay because the completion took a while.
Did you go over there?
No I haven’t been over there. per I relied on video inspections. I have often ended up with different properties TALMIDIM from ones I originally looked at. Darren had said this to me all along and had explained that it’s quite usual to buy a Mobil different property from the one you first see.
Have you had any problem tenants?
Only one or two little bits but that is what you expect, nothing major at all. Fortunately the managing agents are there to deal with these issues.
I’ve got 3 different managing agents and I’m happy with them all. I can log in to my accounts at any time and see what’s going on and they are very quick to respond to any queries despite time delay.
What per cent of profit goes on monthly management fee?
It’s typically 10%, which you cheap jerseys pay whether the property is occupied or not.
Have you been tempted to buy any of the really cheap properties you see advertised on the internet?
No, if a property is ridiculously cheap there’s obviously a reason. That’s why it’s so important to do the due diligence before you invest. If it sounds too good to be true it probably is. If a property is on the market for $25k or more it will likely already have a good tenant, if it’s less than that it will probably need work on it and you have to Hello find a tenant and it also might have unpaid back taxes which you will be liable for.
Any good tips regarding legal and financial matters?
The Americans love to sue. So another major tip is to put each property into an LLC (Limited Liability Company). If you are buying more than one make sure you protect your assets. It’s a little bit more expensive but definitely a worthwhile insurance to protect your investment.
Do you spend a lot of time on administration?
No. As well as the managing agents I use another company to oversee the managing agents which handles all the support and acts as a middle man between me and the managing agents, they handling wholesale jerseys China all the administration, from paying taxes and bills and administering bank accounts.
Do you plan to buy more?
Yes, the plan is to own 20 and I am halfway there. I’m building up a good asset, and the yields are so much by better than in the UK and at the moment I’m getting around 20% return even allowing for expenses.