Real Estate on ebay

Big A · Jul 10, 2005

Anyone seen those US properties for sale on ebay?
Are they for real?
I know that some are in horrendous areas and the houses are derelict, but surely for only a few thousand each, the land alone would be worth more.

Here in Aust, in the most pathetic suburb anywhere in the country, you will not find a shoe box apartment of 1 bedroom/1bathroom for less than $100k, never mind blocks of land or houses.

But according to ebay, I can buy today hundreds of properties in the US for thousands each. I mean if they are for real, I am seeing myself having this enormous property portfolio LOL

And according to some listings, the taxes are only like a few hundred bucks a year??? WTF, they are thousands per year here!

Crowler · Jul 10, 2005

LOL yes they are for real.

Big A I have invested in real estate from NY to FL and had my license in FL so I know a little about houses in the US>

I would be happy to let you know about particular areas good or bad if I know about them. Feel free to PM or email me.

Maybe I could pay you back for all the good bodybuilding info I have received from this board over the years.

CROWLER

Big A · Jul 10, 2005

Crowler said:
LOL yes they are for real.

Then what the hell are so many americans complaining about not being able to make money over there???
Everytime I just scratch the surface over there, there are just so many oportunities!

If americans think it's hard to make it there, how's this for what's like over here:

* a pathetic excuse of a property in a crappy inner city suburb in Melbourne, it's for sale for AU$800k (US$600k) with it's only description as 'livable'
* a dump of a 3 beddrom house accross the street from my house just sold 3 weeks ago for AU$912k (US$730k)
* my last house, 30 miles from the city, 2kms from the beach was AU$1.4mil (US$1.2mil)
* a standard 3bed 2 bath unit in an upper middle suburb in Melb is AU$700k+ (US$550k)
* rates here for a house are many thousands each year. If you have an apartment, by the time body corporate rates come in you are paying over $20k per year in taxes!
* high income earner tax is over 40% per year
* we pay 10% tax on everything we buy. So we get taxed on income and on expenses.
* we have the most expensive cars in the world. A new Lambo Murcielago Roadster costs AU$730k (US$550k+). That same car in the US is approx US$200k. A Lexus LS430 is in the US is about US$60k. In Aust it's AU$170k (US$130k)
* all qualified wages are MUCH lower than their US equivalent
* interest rates for car loans are up to 15%
* interest rates for houses are up to 10%
* interest rates for credit cards are up to 26%
* you CANNOT get a business loan here without having property as security. No what's, ifs or buts about it.
* we pay for petrol up to AU$1.50/litre. That is equivalent of US$5.40/gallon!

Any American that complains that they have it hard and that they can't see oportunities and they can't find a way to get ahead, needs a big kick in the ass because he/she are blind by not seeing the oportunities right in front of their eyes!

Crowler, you have a pm

Pegasus · Jul 10, 2005

according to your post your last house was worth 1.2 mil in us $.! What the hell are you complaining about

Also whats the min wage over there?

wildman536 · Jul 10, 2005

anybody want to help me in the realestate Info, NOT LOOKING FOR SALES just a little bit on how to get licensed and stuff.

Big A · Jul 11, 2005

Pegasus said:
according to your post your last house was worth 1.2 mil in us $.! What the hell are you complaining about

Also whats the min wage over there?

I already said what I was complaining about in my previous post - didn't you read? I am complaining about americans that complain. Because conditions for making money here are so much more disadvantageous than in America, yet people still make money, so americans should have no excuse.

It's about AU$13/h minimum wage, so for a 40 hour week, the person would make AU$520 gross which is about AU$450 net. But in places like Melbourne, you need AU$600/week just to survive. In Sydney, more. In Perth about AU$400/week, but the wages are lower there.
And that is just to survive (rent, food, bills), assuming your car is paid off, no repayments on loans, credit cards, etc. You would have to earn more if you want all those things.

Pegasus · Jul 11, 2005

no need to get all touchy.

. Just the way your making it seem is everyone is living on the streets over there hehe.

Pegasus · Jul 11, 2005

and in my area (boston) the min wage is 6.75 making a 40 hour work week $270 and prob take home $200. Does not seem like you have it to bad off to me. Then again i know shit about your country so

Big A · Jul 11, 2005

Pegasus said:
and in my area (boston) the min wage is 6.75 making a 40 hour work week $270 and prob take home $200. Does not seem like you have it to bad off to me. Then again i know shit about your country so

Yes, but when the take home wage ($200) is 10% of the value of a house (irrespective of suburb) as I've just seen houses for $2,000, then that is not bad.

If a person here gets AU$450/week, there are no houses that you can buy for AU$4,500 anywhere int he country. The cheapest crappiest FLAT, not house, is AU$100k+
People are not living on the streets, but they certainly don't have the opportunities that americans seem to have, and on top of that Australians are possibly the most taxed nation in the world - high income tax, goods and services tax on everything you buy, house tax, luxury car tax, import tax, rates, etc. They are all extremely high and they go on top of everything.
Look at this example - there's a fuel levy tax on petrol which more than doubles the petrol price. But then the purchaser has to pay 10% gst on the petrol, so basically everyone gets taxed twice when they fill up - they pay a tax (gst) on top of another tax (fuel levy).
We call 'gas' 'petrol'.

Pegasus · Jul 11, 2005

the shitiest house i have seen within a 50 mile radius of my area is 200,000 My 3 bedroom house cost 450,000 i dont know ware on ebay your seeing houses for 2,000 are you sure thats not a month?

Big A said:
Yes, but when the take home wage ($200) is 10% of the value of a house (irrespective of suburb) as I've just seen houses for $2,000, then that is not bad.

.

Crowler · Jul 11, 2005

Big A said:
there's a fuel levy tax on petrol which more than doubles the petrol price. But then the purchaser has to pay 10% gst on the petrol, so basically everyone gets taxed twice when they fill up - they pay a tax (gst) on top of another tax (fuel levy).
We call 'gas' 'petrol'.

Taxed THREE times. Taxed on your income then the fuel levy then the gst

BTW Maybe I spoke too soon I have seen houses in upstate NY sell for 14K on Ebay. I didn't know you were finding them for 2K YIKES>

CROWLER

Big A · Jul 11, 2005

Crowler said:
Taxed THREE times. Taxed on your income then the fuel levy then the gst

BTW Maybe I spoke too soon I have seen houses in upstate NY sell for 14K on Ebay. I didn't know you were finding them for 2K YIKES>

CROWLER

Shit, it is three times!!! LOL

I found houses for $300 in Detroit! And that's the end price, as they started with $1 NR! LOL

But even $14k for a house is cheaper than cheap any which way you look at it.

Crowler · Jul 11, 2005

Big A said:
Shit, it is three times!!! LOL

I found houses for $300 in Detroit! And that's the end price, as they started with $1 NR! LOL

But even $14k for a house is cheaper than cheap any which way you look at it.

Damn straight 14 K is CHEAP. Of course they could be a good investment but not some place you would want to personally live as I am sure you understand.

Talk to you later.

CROWLER

Big A · Jul 11, 2005

Crowler said:
Damn straight 14 K is CHEAP. Of course they could be a good investment but not some place you would want to personally live as I am sure you understand.

Talk to you later.

CROWLER

Hell no. I can't live in a house where my cars cost more than the house.

But that is what I am saying. With those kind of prices, you can buy an entire suburb, do up the houses and gardens and landscaping of the streets, and then you instantly GREATLY raised the value of the entire suburb and of each of your houses.

Am I the only one seeing this? Or it doesn't work that way in the US?

JoeyT · Jul 11, 2005

What they don't tell

you is - how many years of property taxes are owed on the home, any mechanical liens that may be on the home and of course the general condition of the shitbox. Most are in areas that people wouldn't live in if you paid them to. The few thosand to buy it will cost 50 X more in bullshit and headaches!

Big A · Jul 11, 2005

JoeyT said:
you is - how many years of property taxes are owed on the home, any mechanical liens that may be on the home and of course the general condition of the shitbox. Most are in areas that people wouldn't live in if you paid them to. The few thosand to buy it will cost 50 X more in bullshit and headaches!

That's the thing - most don't have any back taxes owing and none have liens on them.
Regarding the areas, that is a concern. But what is wrong to do up the shit box and then lease it to people that live in the area in the first place. And at those prices, you could buy 100 houses, do them all up and instantly raise the areas profile and price.

One thing that confuses me though is that I saw the profiles for some areas and houses in the same suburb vary in price between $2,000 and $200,000???
That is an enourmous discrepancy in house values for the same area!
And also, in the same area rents are between $350 and $550/month. Now
why can't someone that pays $350/month there buy a house that is worth $2,000? I mean, within a few months they would own it.

What am I not seeing??

tbonus · Jul 11, 2005

They have tax & sheriff sales all the time. If someone owes back taxes and the bank doesn't make it to place a bid on the property it goes to the highest bidder. I have personally known people who have bought $100K properties for less than $10K without doing any kind of rehab.

I just put together a deal with a friend who paid $19K for a house and put $20K into repairs and financed $80K. The deals are all around. Once my credit is somewhat decent again, I will be back in the thick of things. I can still look for them and help put the deal together, just gotta have someone esle pony up the financing.

We're just putting another one together right now. $10K for the house. Will probably put another $10-20K into repairs and finance it for $60K with a value of $75K+. This is just a duplex with 3 bedrooms each side. Will rent for $1,200 a month in a less than desirable area, but then again, not terrible. Houses don't stay vacant in this neighborhood.

mdtnt · Jul 11, 2005

Big A said:
Then what the hell are so many americans complaining about not being able to make money over there???
Everytime I just scratch the surface over there, there are just so many oportunities!

If americans think it's hard to make it there, how's this for what's like over here:

* a pathetic excuse of a property in a crappy inner city suburb in Melbourne, it's for sale for AU$800k (US$600k) with it's only description as 'livable'
* a dump of a 3 beddrom house accross the street from my house just sold 3 weeks ago for AU$912k (US$730k)
* my last house, 30 miles from the city, 2kms from the beach was AU$1.4mil (US$1.2mil)
* a standard 3bed 2 bath unit in an upper middle suburb in Melb is AU$700k+ (US$550k)
* rates here for a house are many thousands each year. If you have an apartment, by the time body corporate rates come in you are paying over $20k per year in taxes!
* high income earner tax is over 40% per year
* we pay 10% tax on everything we buy. So we get taxed on income and on expenses.
* we have the most expensive cars in the world. A new Lambo Murcielago Roadster costs AU$730k (US$550k+). That same car in the US is approx US$200k. A Lexus LS430 is in the US is about US$60k. In Aust it's AU$170k (US$130k)
* all qualified wages are MUCH lower than their US equivalent
* interest rates for car loans are up to 15%
* interest rates for houses are up to 10%
* interest rates for credit cards are up to 26%
* you CANNOT get a business loan here without having property as security. No what's, ifs or buts about it.
* we pay for petrol up to AU$1.50/litre. That is equivalent of US$5.40/gallon!

Any American that complains that they have it hard and that they can't see oportunities and they can't find a way to get ahead, needs a big kick in the ass because he/she are blind by not seeing the oportunities right in front of their eyes!

Crowler, you have a pm

Damn BigA.....lets get some business ventures goin...i'll ship the cars and you get tehm pre-sold over there...S&H muist be paid to in advance but hell we could make some $$$$$$....LOL
I got a 2004 Caddy Escalade....get me a sale for it...Md

Big A · Jul 12, 2005

mdtnt said:
Damn BigA.....lets get some business ventures goin...i'll ship the cars and you get tehm pre-sold over there...S&H muist be paid to in advance but hell we could make some $$$$$$....LOL
I got a 2004 Caddy Escalade....get me a sale for it...Md

You can't, that's the thing.
First of all, you need to get an import permit that has to meet certain conditions - either it's for a car that was never sold here or it's 15 years or older.
Then when it arrives, you have to get Australian compliance, which means all these extra modifications have to be made to the car. Plus it's still a LHD car, so you have to convert it to RHD before you can even put it on the road.
And of course, you have to pay all the import duties, luxury car tax, etc anyway. So you won't be making much of a deal, just get a lot of headaches.
Go to a place like www.carpoint.com.au and check out the prices of american cars. Especially the private imports. '94 Vipers sell for AU$150k (US$120k), etc.