why invest in US property?
I was talking just this morning with a friend of mine who’s recently been made redundant. He’s an electrician so it’s no suprise really. His father has also been made redundant, both of them are living in the same house. I went round to see them and we spent about an hour talking about the ecomony and where it’s all heading. In all the years I’ve known them it’s first time we’ve had a debate that’s not about football!
It got me thinking about the days when I was an employee and I thought financial freedom meant having a good job with benefits that paid well…boy I was wrong!
If we should learn anything at all from 2009 is that regardless of how you earn a living, you cannot rely on others to pay your way. Job security means very little these days, and the more you have, big house, nice cars, etc the harder you fall when things out of your control go wrong…like a country in a recession.
As many of you know I’m a UK landlord as well. All my mortgages here are interest only. Up until a year ago I didn’t mind, so long as I get the rent every month i really am not bothered about house prices…that is until now.
With my property in the USA it’s different. If I buy on finance it’s a repayment mortgage, after 5 or 10 years I will own the property outright. That feels very good. I am securing my future in a way I simply cannot do here in the UK. I will not be at the mercy of interest rate changes and changes to borrowing criteria. My properties will be mine, all mine.
This is great! I will be the master of my own financial destiny! I can control my property, and whether I get paid my rent on time every month for very little work on my part. I will be at the mercy of noone other than myself.
Next year, when the UK market picks up my plans are to sell as many of my UK properties (assuming I can!) and simply buy as many properties in the US as I can find. I know I will be putting my financial future in safe hands.
If you feel the same way about investing in property for short, medium and long term gains get in touch