Since Las Vegas has been featured in the news quite a bit regarding foreclosures and the down turn of the real estate market here, CNBC came out here to Las Vegas to do a news report on it. The focus of CNBC for this certain news clip was out of country investors buying up foreclosures at discount prices and the fierce competition. Long story short I was asked by my realtor David Brownell if I wanted to be interviewed by CNBC since I was an out of country investor. I saw the video clip on TV and then I found it on their website. I also ended up using my digital camera and filming the video on the NBC website (just in case they take it down!). Here is the link to the NBC clip on their site: "Canadian investor C V, lol.. Sounds so weird hearing that." Here is my video of the video above (in case they take it down ever) And there is my 15 minutes of fame. If you want my autograph, just send me $5 with PayPal and I will email it to you, lol.
5 bucks?! Cmon ! I knew you before you were famous!!!
=)
Nice interview. I think I mentioned to you some of my coworkers have already invested in that area. Others still on the fence. One question though- any concerns or legal issues with investing in the states? What are the risks of being an absentee landlord and or expected overhead costs incurred? I hear that property maintenance costs can kill the deal??
LOL, Thanks. There are no concerns. You cannot however do any work on the property including being the landlord. You need to hire people in the USA to all the work, that you can normally do in Canada. The reason behind this is that the US government doesn’t want out of country people to “steal” work from Americans. I can understand this and it’s not a big deal and I don’t want to deal with anything down here.
My property manager will charge me 7% of the monthly rent to manage a place I am closing on in January. The strata fees are $150 US (lower than what I pay in Vancouver, around $200)