us property scams in australia

Lots of Australians are buying properties in the US, because of the crash in property prices there.  We’ve seen articles showing how so called bargains can be picked up for rock bottom prices.  Some prices quoted are as low as$15,000.

But there are traps.

When a market takes off, the inevitable happens – mugs and hustlers are attracted to the latest game of chance.  This market is no different.

If you type in keywords such as – buying US property from Australia – you will see scores of entries.  It’s a hot little market this.

There’s an old saying – a fool and his money are soon parted.  And that is the way it is going with this market.  As sure as night follows day, hustlers spivs and spruikers are attracted to the game with the lure of easy commission.

I’ve seen them at the Home Shows, the investment shows and the like.  Be careful.  The Australian newspaper this week highlighted the problem.  Spruikers get hold of the cheap US stock, then jack the prices up.

It’s not only the prices that are often inflated; its also that some of these cheap properties are located in very bad suburbs.  Imagine the tenancy problems with these properties.

Of course Australian regulator ASIC is on to it.  But its too late, as always.  The damage has already been done – plenty of people have now bought these properties.  That is why it is better to tap into private online forums to find out what is going on.  They are more on the ball than government agencies, and as time passes this reality will become more pronounced (which makes you wonder, why do we need government watchdogs, now that we have the internet?  ).

As always, do your due diligence.   Research first from your home base, then jump on a plane.  Don’t take the low road by NOT visiting the US.  If that is not an option maybe you should forget the whole thing.

Last year I met a girl at a networking event.  She was a mad keen US property investor.  And she was doing it the smart way.  She conducted proper research here first, then when she was confident she had a viable deal, she booked her flight.  She acquired a number of properties at good prices in the US market, using this approach.

As always, be bloody careful!

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An Alternative to Doing Property Deals

The problem with real estate is that you need capital to do the deals, and it may take many years before you make ANY money from the property.  Investing in another country also increases the risk factor.

On the other hand if you start a business from home with the right product and business model, you have the potential to create instant income.

I market big ticket products from home, and make up to $5,000 commission per sale.  It’s a different way of looking at things, but if you get your head around the concept, you can do very well here.

A few more points about this business model:

  • No sales calls
  • No sales presentations
  • Internet centric
  • Commissions paid weekly
  • No pestering family and friends
  • $8 trillion dollar industry

To make an enquiry visit my Bucket Income site.

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