Is it time now for foreigners to buy house in the USA for invest?

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  1. heohongtham profile image56
    heohongthamposted 8 years ago

    I heard that we can buy a house in the USA for under $5k!!!I saw alot of advertisesment in the real estate website overthere at the ridiclous price! Please give me your advices

  2. Pearldiver profile image81
    Pearldiverposted 8 years ago

    Correct!

    Doll house sales for June had them ranging from $299 - $6000 USD.

    Be aware that foundation work can range as high as $25000 for those suffering extreme damage from Termites and South Bronx Death Beatle infestations. smile

    As a 'foreigner' there are specific qualifications that must be met... so it is Not simply a matter of dealing through real estate sites.. if you do that and loose your bucks then you only have yourself to blame! Do some real homework.. find out by asking them directly what site damage a potential purchaser is looking at... they hate that.. as much as they hate the South Bronx Death Beatles.... Good Luck. hmm

  3. Lady_E profile image64
    Lady_Eposted 8 years ago

    You mean all this time they haven't been buying...

    I think no matter who you are, if you have the dosh, you should be able to buy a house anywhere. What?!!.  The amount of Foreigners who own homes in UK....

    Interessting Post. smile

    1. Pearldiver profile image81
      Pearldiverposted 8 years agoin reply to this

      If you've got the bucks.. try buying in New Zealand hmm
      You will find that it is not that easy to buy here if you are not from NZ or Australia.
      You pretty much have to do it via a JV agreement with a kiwi now to get around some of the paperwork.

      A UK Passport no longer gives you a benefit here.. I guess that has been abit of a response to how Kiwis are treated in the UK now... Permit-wise.

      Don't know why... we gave our boys to the UK for two World Wars and a far few didn't come home!
      Wasn't Sir Kieth Parks's statue recently moved to a more prolific pigeon craping spot after they realised that even though he flew in the RAF for both wars and was pretty helpful at the Battle of Britain... he was a kiwi and therefore better served by a lower class of pigeon? yikes hmm

      But Hey... At least we aren't Gurkas... those poor buggars still haven't been given their passports after a 100 years of service to the Royals yikes sad

      1. profile image0
        ryankettposted 8 years agoin reply to this

        Pearldiver, I sympathise a lot with Aussies and New Zealanders. Particularly as a lot of you like to come over to the UK for a year because it enables 3 months of travel in other European countries.... you are a lot more limited as a result...

        I'm not too sure that you gave us your boys for the world wars though, that was kinda for the greater good of the wider world.... I would hate for you to think that those guys lost their lives for the UK.... that certainly isn't the reason that the UK fought those wars, at least not until near the end... They lost their lives for the freedom and liberty of hundreds of millions, billions, of people...

  4. Ben Evans profile image70
    Ben Evansposted 8 years ago

    I have a friend in real estate who bought a house in Ohio for $3000 on ebay of all places.  He tried to flip it and lost money.

    There are some areas where real estate is so bad that housing prices are very low.  This is not the case where I live which is Seattle. 

    The fantasy is that one can pick up the house and make an awful lot of money.  The problem is there often is a lot of work that needs to be done and taxes will be based on the value several years ago.  Tenants can't be found to rent the place.

    The bottom line is that these houses will be in areas that people don't want to live and also they will be money pits.  I don't suggest that someone tries to make money in real estate on these houses.  What looks like a fantastic deal really isn't.

  5. profile image0
    ryankettposted 8 years ago

    No, at least not for those in the UK.

    Seeing as £10000 was worth $20000 about 18 months ago, and $15000 now.

    I keep a keen eye on American property, as a potential affordable investment, and to be honest the property was a lot cheaper 2 years ago. Especially going through auction, I saw homes in upstate NY going for $500 on eBay back then. Now similar homes, in a similar condition, are achieving $5000.

    The boat has been missed a little, although still a great time to buy a home if you intend to utilise it or believe that you can achieve a decent yield.

  6. SomewayOuttaHere profile image60
    SomewayOuttaHereposted 8 years ago

    hmmmm...unfortunately many people in the US lost their homes..banks have many of them...and for all kinds of reasons...it's difficult for me to read about the 'deals' on homes there because I think of the lives that turned upside down before and after homes were lost...i hope those of you in the US that have been impacted over the last looooong while, get a much needed boost somehow.

    Cheers US! and Peace!

  7. Daniel Carter profile image75
    Daniel Carterposted 8 years ago

    Why yes, you are right! I hear this on radio and TV all the time! Even I can buy a home for $5k!! And there will be more than a million more foreclosures this year alone. (And it appears I may be headed into that category as a Great American Statistic.)

    The truth is that the $5k homes are most often trash bins which have been ravaged by angry former owners who pretty much did what they wanted to the place in their anger as they were leaving, and additionally, these homes are not usually in good neighborhoods because the people who lose their homes first, are the poor.

    Welcome to America.

    1. SomewayOuttaHere profile image60
      SomewayOuttaHereposted 8 years agoin reply to this

      hang on Daniel!....i'm sending you a bigggggg hugggg...hope you feel it.......

 
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