Brennan Property Investment: Our Latest Properties in Western New York

[Deborah Brennan]

Please find below a list of our LATEST Releases in Buffalo, Rochester & Syracuse…
Tuesday 17th June 2008

Please click on the Property Name to view the full details…
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BPISYR606WN
PRICE $46K – APPRAISED @ $52K! - Gross Rental Yield 26%
DOUBLE UNIT – 2 APARTMENTS WITH 3 BEDS IN EACH, FULLY LET @ $1000/MONTH (combined)
NET MONTHLY INCOME - £347
CLOSING COST INCLUDING ALL FEES - $56,613/ £29,032
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BPISYRMINE
PRICE $44K – APPRAISED @ $51K! - Gross Rental Yield 27%
DOUBLE UNIT – 2 APARTMENTS WITH 2 BEDS IN EACH, FULLY LET @ $975/MONTH (combined)
NET MONTHLY INCOME - £325
CLOSING COST INCLUDING ALL FEES - $54,613/ £28,006
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BPISYRWEST
PRICE $30K – APPRAISED @ $35K! - Gross Rental Yield 28%
SINGLE UNIT –3 BEDS - FULLY LET @ $700/MONTH
NET MONTHLY INCOME - £218
CLOSING COST INCLUDING ALL FEES - $37,949/ £19,461
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BPIB29EE
PRICE $40K – APPRAISED @ $65K! - Gross Rental Yield 30%
DOUBLE UNIT – 2 APARTMENTS WITH 2/3 BEDS IN EACH, FULLY LET @ $1005/MONTH (combined)
NET MONTHLY INCOME - £316
CLOSING COST INCLUDING ALL FEES - $50,613/ £25,955
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BPIR492DR
PRICE $38K – APPRAISED @ $45K! - Gross Rental Yield 32%
DOUBLE UNIT – 2 APARTMENTS WITH 2/3 BEDS IN EACH, TO LET @ $1000/MONTH (combined)
NET MONTHLY INCOME - £298
CLOSING COST INCLUDING ALL FEES - $48,613/ £24,929
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BPIRDEWEY
PRICE $48K – APPRAISED @ $54K! - Gross Rental Yield 30%
TRIPLE UNIT – 3 APARTMENTS WITH 1/2 BEDS IN EACH, FULLY LET @ $1050/MONTH (combined)
NET MONTHLY INCOME - £332
CLOSING COST INCLUDING ALL FEES - $59,613/ £30,570
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BPIRWEAVER
PRICE $27K – APPRAISED @ $32K! - Gross Rental Yield 31%
SINGLE UNIT – 3 BEDS - FULLY LET @ $700/MONTH
NET MONTHLY INCOME - £231
CLOSING COST INCLUDING ALL FEES - $37,113/ £19,032
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All properties are of course freehold, and will be packaged professionally for our investors with assigned Property Managers, Attorney, Insurance Broker and Project Managers. All sales are monitored to closure personally by a member of the BPI team.

Please view our website for our FULL CURRENTLY AVAILABLE LIST
Western New York Real Estate Investments for the UK
Call 0845 257 7218 or email - enquiries@wnypropertyinvestments.co.uk

[Investy]

America is awash with millions of foreclosures - indeed you can book foreclosure tours in most cities, so I wonder about capital growth going forward as there is just so much property and land to go around.

Some areas and streets have an ever increasing number of boarded up homes so that yesterdays home purchase becomes worth less as the area degenerates.

I cant comment on Brennan at all, but due dilligence should involve investors getting over there and doing masses of research.
There are plenty of people who bought into the property dream here in the UK that are now facing Bankcruptcy, the middlemen have long since dissapeared, and tenants failed to have the depth of pocket that was promised.

[Deborah Brennan]

Yes there is a vast amount of land in the USA, but the same rules apply out there as they do here; location, location, location. The value of the land is increased in accordance with its surrounding. Yes, there are many foreclosures, as we know the USA subprime issues have hit hard, lenders paid no attention to the level of risk when lending money. Because of the subprime issues it may be prudent to assume that such risky lending will become a thing of the past, the impact of which will expand the rental market.

The properties BPI offer are purchased generally for rental yeild. These properties generate a monthly income. The markets in Rochester and Buffalo have seen little effect from subprime issues. Western New York has not seen the growth that Florida and California have. Therefore, the houses have held there value and continue to grow at a steady rate. BPI is not stating that these properties will 'boom' in value, because that clearly is not the case. These houses will however, continue to provide a rental income.

We recommend all buyers do their own due dilligence. And yes there are many people who jumped on the property ladder over here only to find that it wasn't all that was promised. There are many people who have unrealistic notions of rental property and we do not make any unrealistic claims.

[nocholas]

I am looking to invest in Northern USA as I understand rental yields are high, however I have done a lot of work looking for finance on these properties and have come to a dead end
50%LTV's 15% interest,nobody interested in anything under $100K makes the benefits of this area diminish rapidly unless you are paying cash and then 40% of the yield becomes taxable and defeats the object

Can anybody recommend a broker/bank/finance house who will lend 75-80% at sub 10% on properties valued at C.$50000

[Deborah Brennan]

Tax implications will be different for every individual, and also for every different property. You would certainly pay no more in tax than you would on a UK portfolio, and many of the expenses can be offset against the tax.

[RebelYell]

Hi nocholas,
I have purchased property this year in the US without having to deal with banks and sky-high rates. The area I've bought into is also very stable economically with a growing jobs market and rising population. By purchasing via an owner-finance arrangment you still get to use leverage, which is an essential tool for an investor, without having to put in 25%+ deposit & mortgage costs. I get deals that are cashflow positive and equity built in every week. PM me if you'd like more info.

rgds,
RebelYell

[Sunnyshores]

Hi RebelYell
I'd be interested to know what "an owner-finance arrangment" is.
SS

PS I've been searching for finance and cant find any deals at any price for properties below $70k

[RebelYell]

Hi,
I've sent you a PM on what approaches are available.

rgds,
RebelYell