Very perceptive summary! Do you do palm reading also? I'd be interested to know how such investments went, as I felt the same in 2006 & avoided investing inthe US for the reasons you stated.
Damian
White Mountain
Quote:
Originally Posted by bennett
I'd be very cautious if I were you!
A good pal of mine has one of these properties close to Disney, it comes to less than 40 weeks rental per-year which means he has to 'chip-in' a lot of his own cash every month.
A 30 year mortgage means you will be paying about US $1,000 per-month just in interest during the early years......ouch!
Also bear in mind that the US property market is probably at the extreme end of a massive bubble..........do you really want to make a 30 year financial commitment?
Even if you do buy this place, you can't even live in the US for more than 3 months (and I think you are limited to a 6 months maximum per-year anyway).
Best avoided my friend.
Good luck.
Bennett
|