I keep seeing ads for houses in the US that cost only 50K or so... so if they are so cheap, why aren't American entrepenuers buying them, why do they need to try to sell them to Aussies? Are they dodgy?
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PS I am an Aussie. PPS I know about the GFC... but I still don't understand... my Mum always, said, if it looks too good to be true, it usually is... so...?
think of ROI. $50K may sound cheap (depends in relation to what- historic, the area, your housing costs in AUS), but if the housing price does not increase past $50K in the next 10 years, is it so cheap? It is a lot easier to stomach buying an asset that is rising in value than one that completly took a dump over the past few years.
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Hmmm... yeah, 50K is way cheap, compared with house values here, 300K will buy you a dump in the outer suburbs. It may not rise, but it can't fall much further either. No capital gain, but once it's paid off that's a little rental income... I could buy 6 for the price of 1... wonder what the rental is like, rental vacancy rate, what the landlord protections are, if a foreigner can even be a landlord...
It might not be such a bad prospect, but a bit scary so far away.