Since the American real estate bubble burst back in 2008 and dragged Americans and most of the world in a horrible financial crisis, buying an American real estate was seen as nothing but a scary idea everyone rejected like leprosy. From 2011 though, things changed for the better and now the American property market is back in the investment game. Buying an American property now is a lucrative idea that should be paid considerable attention.
The investment climate in the American property market right now has some very attractive features: low mortgage rates, relatively low initial payments, and a good prognosis for their trend as long-term investments. Although there are downturns, the benefits of owning an American real estate ensure the average Aussie worker that his/hers golden era won’t depend solely on the superannuation and the state pension. Every smart person in the world knows that a passive income from renting a house or an apartment comes as a blessing once your regular income stops.
And since you’re a smart person who knows how to manage his/her finances in the most profitable way possible, I have made this short guide to introduce you to the convenient process of investing in American property:
Find a good agent first
It’s no shame that you probably won’t be able to handle this investment all on your own; it’s on a whole different continent, where different rules apply. Plus, any other type of investment, anywhere in the world is handled by investment brokers, so the first thing you should do is find yourself a good agent or agency, that will offer to handle the matter for you. Make sure they’re reliable, with a considerable number of good deals made. Plus, ask to see the portfolio of properties they offer; you want to have a wide choice.
What should the agent do for you?
Once you choose the agent/agency, they are going to schedule a consultation with you as their prospective client. You’re going to be asked to elaborate on your investment needs and desires, and they will structure the strategy and introduce you into the taxation and legal system of the US, which is quite extensive and complex. Afterwards, you should take a look at the portfolio of possible investments the agency has to offer, and even join them on the ground in the US if you prefer.
Think it through
Just because someone is handling it for you, doesn’t mean you shouldn’t think it through carefully. Do a little research of your own before you get in this matter, and see if it’s going to be beneficial and profitable for you. Moreover, if you are new in the world of real estate investments, read a little and look for free online sources that offer free information on the matter; see if you have the knowledge to follow and manage your newly bought American property.
Finally, don’t wait too long
Real estate markets are like a living organism; they always change and everything affects them in one way or another, which is as good as it’s bad. So, don’t wait too much to make the move; it can only get harder to find good property and the initial payment will only grow larger.