Booked & raring to go

So it is done!

After spending a small fortune on flights, transfers & accommodation (tip: book early) I am ready to head over to the US. I will be spending approximately 4-5 days in Dallas, Texas and 9 days in Atlanta, Georgia in the middle two weeks of July this year. I’ve tried to choose locations in these cities close to public transportation & central from a convenience point of view.

Who do I need to speak to / what do I need to do?
I think for this, it is best to create a list & timeline of jobs I need to complete in order to get the most of my trip. I’m sure i’ll come up with a more comprehensive plan in the next week or so but in summary here is what i’m thinking…

Who to meet with (several of each, in each city);
*Realtor
*Property Manager
*Tax accountant
*Attorney (solicitor?)
*Bank representative
*Handy men / renovation companies etc.

Timeline of jobs/meetings;
1. Set up a US mailing address (will be done before I leave Australia)
2. Set up a US bank account
3. Set up a US phone number and account
4. Meet with various Realtors
5. Meet with various Property managers
6. Repeat process for Tax accountant, attorney, renovation companies
7. Establish a company if advise of tax account is leaning towards this
8. Inspect properties (is going to be a little difficult without access to a car, i’m still working on the best way to achieve this).
9. If time permits – tourist tour of city.

Am I on the right track here?

So much to think about, I think i’m way over my head at this point. Wish me luck…

Atlanta, Georgia

General Overview

State population: 9.7 million
Population greater metro area: +6 million
Population centre: 5.3 million

Counties: Fulton and DeKalb

City demographics:
According to the 2010 census, the racial composition of the city of Atlanta was as follows:
▪ Black or African American: 54.0%
▪ White: 38.4% (Non-Hispanic Whites: 36.3%)
▪ Asian: 3.1%
▪ Native American: 0.2%
▪ Native Hawaiian and Other Pacific Islander: 0.0%
▪ Some other race: 2.2%
▪ Two or more races: 2.0%
▪ Hispanic or Latino (of any race): 5.3%

The city of Atlanta is seeing a unique and drastic demographic increase in its white population, and at a pace that outstrips the rest of the nation. The proportion of whites in the city’s population, according to Brookings Institution, grew faster between 2000 and 2006 than that of any other U.S. city. The demographic changes are due to an influx of whites into gentrifying intown neighborhoods, such as East Atlanta and the Old Fourth Ward, coupled with a movement of blacks into adjacent suburbs, such as Clayton County.
According to the 2000 United States Census (revised in 2004), Atlanta has the twelfth highest proportion of single-person households nationwide among cities of 100,000 or more residents, which was at 38.5%.
According to a 2000 daytime population estimate by the Census Bureau, over 250,000 more people commuted to Atlanta on any given workday, boosting the city’s estimated daytime population to 676,431. According to census estimates, the city of Atlanta was the 13th fastest growing city in the nation, in terms of both percentage and numerical increase.

Brief overview of city:
Atlanta is the capital and most populous city in the U.S. state of Georgia. According to the 2010 census, Atlanta’s population is 420,003. The Atlanta metropolitan area, with 5,268,860 people, is the third largest in the Southeastern United States and the ninth largest in the country. The Atlanta Combined Statistical Area, a larger trade area, has a population approaching six million and is the largest in the Southeast. Like many urban areas in the Sun Belt, the Atlanta region has seen increasing growth since the 1970s, and it added about 1.1 million residents between 2000 and 2008.
Atlanta is considered to be a top business city and is a primary transportation hub of the Southeastern United States – via highway, railroad, and air. Metro Atlanta contains the world headquarters of corporations such as The Coca-Cola Company, The Home Depot, AT&T Mobility, UPS, Delta Air Lines, and Turner Broadcasting. Atlanta has the country’s fourth-largest concentration of Fortune 500 companies, and more than 75 percent of Fortune 1000 companies have business operations in the metropolitan area, helping Atlanta realize a gross metropolitan product of US$270 billion, accounting for more than two-thirds of Georgia’s economy. Hartsfield–Jackson Atlanta International Airport has been the world’s busiest airport since 1998.
Atlanta is the county seat of Fulton County and the location of the seat of government of the state of Georgia. A small portion of the city of Atlanta corporate limits extends eastwards into DeKalb County. Residents of Atlanta and its surroundings are known as “Atlantans”.

Brief overview of state:
Georgia is a state located in the southeastern United States. Georgia was established in 1732, the last of the original Thirteen Colonies. It is named after King George II, of Great Britain. Georgia was the fourth state to ratify the United States Constitution, on January 2, 1788. It declared its secession from the Union on January 21, 1861, and was one of the original seven Confederate states. It was the last state to be restored to the Union, on July 15, 1870.
The 2010 US Census reported 9,687,653 residents, making Georgia the ninth most populous state. From 2007 to 2008, 14 of Georgia’s counties ranked among the nation’s 100 fastest-growing, second only to Texas. Georgia is known as the Peach State and the Empire State of the South. Atlanta is the capital and the most populous city.
Georgia is bordered on the south by Florida; on the east by the Atlantic Ocean and South Carolina; on the west by Alabama; and on the north by Tennessee and North Carolina. The northern part of the state is in the Blue Ridge Mountains, a mountain range in the vast Appalachian Mountains system. The central piedmont extends from the foothills to the fall line, where the rivers cascade down in elevation to the continental coastal plain of the southern part of the state.
With an area of 59,425 square miles (153,909 km2), Georgia is ranked 24th in size among the 50 U.S. states. Georgia is the largest state east of the Mississippi River in terms of land area, although it is the fourth largest (after Michigan, Florida, and Wisconsin) in total area, a term which includes expanses of water which are part of state territory.

Average annual income per capita: $59, 711
Average annual income per family: $47,464
Current unemployment rate: 9.8%

Economy background:
Atlanta is one of ten U.S. cities classified as a “beta world city” by a 2008 study at Loughborough University, and ranks fourth in the number of Fortune 500 companies headquartered within city boundaries, behind New York City, Houston, and Dallas. Several major national and international companies are headquartered in metro Atlanta, including four Fortune 100 companies: The Coca-Cola Company, Home Depot, United Parcel Service, and Delta Air Lines. The headquarters of AT&T Mobility (formerly Cingular Wireless), the second largest mobile phone service provider in the United States, is located near Lenox Square. Other headquarters for some major companies in Atlanta and around the metro area include Arby’s, Chick-fil-A, Earthlink, Equifax, Gentiva Health Services, Georgia-Pacific, Oxford Industries, RaceTrac Petroleum, Southern Company, SunTrust Banks, Mirant, and Waffle House. In early June 2009, NCR Corporation announced that they will relocate its headquarters to the nearby suburb of Duluth, Georgia. Over 75% of the Fortune 1000 companies have a presence in the Atlanta area, and the region hosts offices of about 1,250 multinational corporations. As of 2006 Atlanta Metropolitan Area ranks as the 10th largest cybercity (high-tech center) in the US, with 126,700 high-tech jobs.

Delta Air Lines is the city’s largest employer and the metro area’s third largest. Delta operates one of the world’s largest airline hubs at Hartsfield-Jackson Atlanta International Airport and, together with the hub of competing carrier AirTran Airways, has helped make Hartsfield-Jackson the world’s busiest airport, both in terms of passenger traffic and aircraft operations. The airport, since its construction in the 1950s, has served as a key engine of Atlanta’s economic growth.
Atlanta has a sizable financial sector. SunTrust Banks, the seventh largest bank by asset holdings in the United States, has its home office on Peachtree Street in downtown. The Federal Reserve System has a district headquarters in Atlanta; the Federal Reserve Bank of Atlanta, which oversees much of the deep South, relocated from downtown to midtown in 2001. Wachovia announced plans in August 2006 to place its new credit-card division in Atlanta, and city, state and civic leaders harbor long-term hopes of having the city serve as the home of the secretariat of a future Free Trade Area of the Americas.
Atlanta is also home to a growing Biotechnology sector, gaining recognition through such events as the 2009 BIO International Convention. The World of Coca-Cola museum reopened at a new location near the Georgia Aquarium on May 26, 2007.
The auto manufacturing sector in metropolitan Atlanta has suffered setbacks recently, including the closure of the General Motors Doraville Assembly plant in 2008, and the shutdown of Ford Motor Company’s Atlanta Assembly plant in Hapeville in 2006. Kia, however, has opened a new assembly plant near West Point, Georgia.

The city is a major cable television programming center. Ted Turner began the Turner Broadcasting System media empire in Atlanta, where he bought a UHF station that eventually became WTBS. Turner established the headquarters of the Cable News Network at CNN Center, adjacent today to Centennial Olympic Park. As his company grew, its other channels—the Cartoon Network, Boomerang, TNT, Turner South, Turner Classic Movies, CNN International, CNN en Español, HLN, and CNN Airport Network – centered their operations in Atlanta as well. Turner Broadcasting is a division of Time Warner. The Weather Channel, owned by a consortium of NBC Universal, Blackstone Group, and Bain Capital, has its offices in the Cumberland district northwest of downtown Atlanta.

Cox Enterprises, a privately held company controlled by James C. Kennedy, his sister Blair Parry-Okeden and their aunt Anne Cox Chambers, has substantial media holdings in and beyond Atlanta; it is headquartered in the city of Sandy Springs. Its Cox Communications division, headquartered in unincorporated DeKalb County, is the third-largest cable television service provider in the United States; the company also publishes over a dozen daily newspapers in the United States, including The Atlanta Journal-Constitution.

Unincorporated DeKalb County is also home to the Centers for Disease Control and Prevention (CDC). Adjacent to Emory University, with a staff of nearly 15,000 (including 6,000 contractors and 840 Commissioned Corps officers) in 170 occupations, including: engineers, entomologists, epidemiologists, biologists, physicians, veterinarians, behavioral scientists, nurses, medical technologists, economists, health communicators, toxicologists, chemists, computer scientists, and statisticians. Headquartered in DeKalb County, CDC has 10 other offices throughout the United States and Puerto Rico. In addition, CDC staff are located in local health agencies, quarantine/border health offices at ports of entry, and 45 countries around the world. Originally established in 1946 as the Communicable Disease Center, its primary function was to combat malaria, the deep southeast being the heart of the U.S. malaria zone at the time.

Public transportation:
From the airport – the Atlanta Airport Shuttle ($16.50 – $20.50) also transports passengers to hotels all over the city in a nine-passenger shuttle (from 6am to midnight). Desk on the baggage claim level.

Around the city – The Metropolitan Atlanta Rapid Transit Authority (Marta) rail line travels to/from the airport to downtown, along with a few less-useful routes used mostly by commuters.

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Property analysis

Zillow median home value index: $127,700
Trulia median home value index: $215,500

Background/Summary:
Average price per square foot for Atlanta GA was $143, an increase of 18.2% compared to the same period last year. The median sales price for homes in Atlanta GA for Feb 11 to Apr 11 was $215,500 based on 392 home sales. Compared to the same period one year ago, the median home sales price increased 28.3%, or $47,473, and the number of home sales decreased 80.4%. There are currently 16,012 resale and new homes in Atlanta on Trulia, including 15 open houses, as well as 5,776 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Atlanta GA was $389,685 for the week ending May 18, which represents an increase of 0.4%, or $1,739, compared to the prior week. Popular neighborhoods in Atlanta include Midtown and Virginia Highland, with average listing prices of $276,741 and $521,976.

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The increase in home sales projected by Housing Predictor from the government backed federal tax credit for home buyers proved to be another government incentive that turned out to be just a temporary measure, but at least it gave the market a sense of improving for some time. Without additional federal dollars housing markets in Georgia are projected to see higher home price deflation. In Atlanta, the market has seen a massive drop in sales since the credit’s expiration and that trend should continue, despite near record low mortgage rates. Consumer confidence and weak employment prospects for those out of work or under-employed is discouraging news for the regional economy. Home sales should see an increase in the Atlanta metro area towards summer, but are still forecast to experience average housing price deflation of 8.2% in 2011.

Suburb Report:
Refer to excel spreadsheet Atlanta Suburb Report

Rent trend data (Apartments):
As of April, 2011, average apartment rent within 10 miles of Atlanta, GA is $915. 

One bedroom apartments in Atlanta rent for $786 a month on average and two bedroom apartment rents average $932. 


The average apartment rent over the prior 6 months in Atlanta has increased by $14.5 (2%)

One bedroom units have increased by $9 (1%) and two bedroom apartments have increased by $63.5 (7%)

.

The most expensive Atlanta neighborhoods to rent apartments are Home Park, Midtown, and Atlanta-Inman Park. 

The cheapest Atlanta neighborhoods to rent apartments are Thomasville, Grove Park, and West End


Dallas, Texas

Dallas, Texas

General Overview

Population centre: 1.2 million
Population greater metro area: 6.5 million
State population: 25.1 million

City demographics:
Racial composition of the city was 56.6% White, 23.2% Black or African American, 0.4% American Indian, 2.5% Asian, 0.1% Native Hawaiian and Other Pacific Islander, 15.9% from some other race, and 1.3% from two or more races. Hispanics or Latinos (of any race) make up 43.1% of the total population; Mexican Americans make up 38.5% of the population.

Dallas’ population has historically been predominantly white, but its population has diversified as it has grown in size and importance over the 20th century to the point that non-Hispanic whites now represent less than one-third of the city’s population. In addition, recent data showed that 26.5% of Dallas’ population and 17% of residents in the Metroplex as a whole were foreign-born.

Dallas is a major destination for Mexican immigrants, both legally and illegally. The southwestern and southeastern portions of the city, particularly Oak Cliff and Pleasant Grove, are chiefly inhabited by black and Hispanic residents, while the southern portion of the city is predominantly black. The West and East sides of the city are predominately Hispanic. North Dallas, on the other hand, is mostly white, though many enclaves of predominantly black and Hispanic residents exist. In addition, Dallas and its suburbs are home to a large number of Asian residents—Koreans, Taiwanese, Chinese, Filipinos, Vietnamese, Indians, Bangladeshis, Pakistanis, Sri Lankans, Nepalese, and Arabs all have large presences in the area, particularly in the suburbs of Garland, Richardson, Plano, Carrollton, Irving, Frisco, Flower Mound, and Allen.

Counties:
Dallas, Collin, Denton, Rockwall, Kaufman

Brief overview of city:
Dallas is the third-largest city in Texas and the ninth-largest in the United States. The Dallas-Fort Worth Metropolitan Area is the fourth largest in the United States. Divided between Collin, Dallas, Denton, Kaufman, and Rockwall counties, the city had a 2010 population of approximately 1.2 million, according to the United States Census Bureau. The city is the largest economic center of the 12-county Dallas–Fort Worth–Arlington metropolitan area that according to the March 2010 U.S. Census Bureau release, had a population of roughly 6.5 million as of July 2009. The metropolitan area is the largest metropolitan area in the South and fourth-largest metropolitan area in the United States.

Dallas was founded in 1841 and formally incorporated as a city in February 1856. The city’s economy is primarily based on banking, commerce, telecommunications, computer technology, energy, and transportation, home to several Fortune 500 companies. Located in North Texas and a major city in the American South, Dallas is the core of the largest inland metropolitan area in the United States that lacks any navigable link to the sea. The city’s prominence arose from its historical importance as a center for the oil and cotton industries, and its position along numerous railroad lines. Dallas developed a strong industrial and financial sector, and a major inland port, due largely to the presence of Dallas/Fort Worth International Airport, one of the largest and busiest airports in the world.

Brief overview of state:
Texas is the second-largest U.S. state by both area and population. The name, a corruption of the Caddo “Tejas” (“friends” or “allies”) was applied by the Spanish to the Caddo themselves and to the region of their settlement in East Texas. Located in the South Central United States, Texas is bordered by Mexico to the south, New Mexico to the west, Oklahoma to the north, Arkansas to the northeast, and Louisiana to the east. Texas has an area of 268,820 square miles (696,200 km²), and a growing population of 25.1 million residents.

Houston is the largest city in Texas and the fourth-largest in the United States, while San Antonio is the second largest in the state and seventh largest in the United States. Dallas–Fort Worth and Greater Houston are the fourth and sixth largest United States metropolitan areas, respectively. Other major cities include El Paso and Austin—the state capital. Texas is nicknamed the Lone Star State to signify Texas as an independent republic and as a reminder of the state’s struggle for independence from Mexico. The “Lone Star” can be found on the Texas State Flag and on the Texas State Seal.

Due to its size and geologic features such as the Balcones Fault, Texas contains diverse landscapes that resemble both the American South and Southwest. Although Texas is popularly associated with the Southwestern deserts, less than 10% of the land area is desert. Most of the population centers are located in areas of former prairies, grasslands, forests, and the coastline. Traveling from east to west, one can observe terrain that ranges from coastal swamps and piney woods, to rolling plains and rugged hills, and finally the desert and mountains of the Big Bend.

The term “six flags over Texas” came from the several nations that had ruled over the territory. Spain was the first European country to claim the area of Texas. France held a short-lived colony in Texas. Mexico controlled the territory until 1836 when Texas won its independence, becoming an independent Republic. In 1845 it joined the United States as the 28th state. The state’s annexation set off a chain of events that caused the Mexican–American War in 1846. A slave state, Texas declared its secession from the United States in early 1861, joining the Confederate States of America during the American Civil War. After the war and its restoration to the Union, Texas entered a long period of economic stagnation.

One Texas industry that thrived after the Civil War was cattle. Due to its long history as a center of the industry, Texas is associated with the image of the cowboy. The state’s economic fortunes changed in the early 20th century, when oil discoveries initiated an economic boom in the state. With strong investments in universities, Texas developed a diversified economy and high tech industry in the mid-20th century. As of 2010 it shares the top of the list of the most Fortune 500 companies with California at 57. With a growing base of industry, the state leads in many industries, including agriculture, petrochemicals, energy, computers and electronics, aerospace, and biomedical sciences. It leads the nation in export revenue since 2002 and has the second-highest gross state product.

Average annual income per capita: $40,147
Average annual income per family:  $42,670

Current unemployment rate: 8.1%

Economy background:
In its beginnings, Dallas relied on farming, neighboring Fort Worth’s Stockyards, and its prime location on Native American trade routes to sustain itself. Dallas’ key to growth came in 1873 with the building of multiple rail lines through the city. As Dallas grew and technology developed, cotton became its boon and by 1900 Dallas was the largest inland cotton market in the world, becoming a leader in cotton gin machinery manufacturing. By the early 1900s Dallas was a hub for economic activity all over the southwestern United States and was selected in 1914 as the seat of the Eleventh Federal Reserve District. By 1925 Texas churned out more than ⅓ of the nation’s cotton crop, with 31% of Texas cotton produced within a 100-mile (161 km) radius of Dallas. In the 1930s petroleum was discovered east of Dallas near Kilgore, Texas. Dallas’ proximity to the discovery put it immediately at the center of the nation’s petroleum market. Petroleum discoveries in the Permian Basin, the Panhandle, the Gulf Coast, and Oklahoma in the following years further solidified Dallas’ position as the hub of the market.

The end of World War II left Dallas seeded with a nexus of communications, engineering, and production talent by companies such as Collins Radio Corporation. Decades later, the telecommunications and information revolutions still drive a large portion of the local economy. The city is sometimes referred to as the heart of “Silicon Prairie” because of a high concentration of telecommunications companies in the region, the epicenter of which lies along the Telecom Corridor located mostly in Richardson, a northern suburb of Dallas. The Corridor is home to more than 5,700 companies including Texas Instruments (headquartered in Dallas), Nortel Networks, Alcatel Lucent, AT&T, Ericsson, Fujitsu, Nokia, Rockwell Collins, Cisco Systems, Sprint and Verizon Communications.

In the 1980s Dallas was a real estate hotbed, with the increasing metropolitan population bringing with it a demand for new housing and office space. Several of Downtown Dallas’ largest buildings are the fruit of this boom, but over-speculation and the savings and loan crisis prevented any further additions to Dallas’ skyline. Between the late 1980s and the early 2000s, central Dallas went through a slow period of growth and has only recently recovered. Since 2000, the real estate market in the Dallas-Fort Worth Metroplex has been relatively resilient. However, Dallas is among the largest cities in the U.S. where rent declined significantly. Whereas the national decline in rent is approximately 4%, Dallas rent declined an average of 8% in early 2010.

Texas Instruments, a major manufacturer, employs 10,400 people at its corporate headquarters and chip plants in Dallas. Defense and aircraft manufacturing dominates the economy of nearby Fort Worth.

The Dallas-Fort Worth Metroplex has one of the largest concentrations of corporate headquarters for publicly traded companies in the United States. The city of Dallas has 12 Fortune 500 companies and the DFW region as a whole has 20. In 2007-08, Comerica Bank and AT&T located their headquarters in Dallas. Irving is home to four Fortune 500 companies of its own, including ExxonMobil, the most profitable company in the world and the second largest by revenue for 2008,[93] Kimberly-Clark, Fluor (engineering), and Commercial Metals. Additional companies headquartered in the Metroplex include Southwest Airlines, American Airlines, RadioShack, Neiman Marcus, 7-Eleven, Brinker International, AMS Pictures, id Software, ENSCO Offshore Drilling, Mary Kay Cosmetics, Chuck E. Cheese’s, Zales and Fossil. Corporate headquarters in the northern suburb of Plano include HP Enterprise Services, Frito Lay, Dr Pepper Snapple Group, and JCPenney.

Susan G. Komen for the Cure, the world’s largest breast cancer organization was founded and is headquartered in Dallas.

In addition to its large number of businesses, Dallas has more shopping centers per capita than any other city in the United States and is also home to the second shopping center ever built in the United States, Highland Park Village, which opened in 1931. Dallas is home of the two other major malls in North Texas, the Dallas Galleria and NorthPark Center, which is the 2nd largest mall in Texas. Both malls feature high-end stores and are major tourist draws for the region.

The city itself is home to 15 billionaires, placing it 9th worldwide among cities with the most billionaires. The ranking does not take into account the 8 billionaires who live in the neighboring city of Fort Worth.

Dallas is currently the third most popular destination for business travel in the United States, and the Dallas Convention Center is one of the largest and busiest convention centers in the country, at over 1,000,000 square feet (93,000 m²), and the world’s single-largest column-free exhibit hall.

Public transportation:
From airport – Catch the Monday to Saturday Trinity Railway Express to downtown Union Station ($2.25).  The airport stop is actually in a parking lot; shuttle bus will take you direct to the terminal.  On Sundays when there is no train, take a shuttle; Yellow Checker Shuttle and SuperShuttle run shuttles from DFW to downtown for around $18.  Taxi to central will cost between $40 to $50.

Around the city – DART (www.dart.org) operates buses and an extensive light rail system that connects Union Station and other stops downtown with outlying areas. Day passes ($4.50) are available from the store at the Akard Station (1401 Pacific Ave; 7.30 – 5.30pm Mon-Fri).  Travel uptown from down on the free McKinney Ave trolley, which runs daily from the corner of Ross Ave and St Paul St, near the Dallas Museum of Art, up McKinney Ave to Hall St.

Property Analysis

 

Median house price: $128,200
Zillow home value index: $89,200
Trulia home value index: $80, 620

Background/Summary: (provided direct from Trulia)

The median sales price for homes in Dallas TX for Feb 11 to Apr 11 was $80,620. This represents a decline of 1.1%, or $871, compared to the prior quarter and an increase of 0.8% compared to the prior year. Sales prices have appreciated 19.4% over the last 5 years in Dallas. The average listing price for Dallas homes for sale on Trulia was $471,217 for the week ending May 11, which represents an increase of 0.7%, or $3,478, compared to the prior week and an increase of 1%, or $4,891, compared to the week ending Apr 20. Average price per square foot for Dallas TX was $69, an increase of 3% compared to the same period last year. Popular neighborhoods in Dallas include Preston Hollow, Oak Lawn, North Dallas, Far North Dallas, Lakewood, and Lake Highlands.

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In Dallas the housing market has been as uncomfortable as Texas weather. Gains in home values produced by the federal credit didn’t have any lasting power. Home sales turned sluggish after the expiration and homeowners became increasing concerned over the economy.  A rising supply of foreclosed homes hitting the market coupled with short sales is also taking their toll as the Dallas-Forth Worth area experienced record foreclosures. A back-log of inventory and more mortgage holders walking away from homes in the New Year will have an enormous impact on the market even with comparatively high employment levels. 

Consumers who drive the Dallas market are waiting for better economic signs before taking a leap to make a purchase in to make a purchase in most cases, which will act to keep the market sluggish and add to the time it will take the market to heal. Dallas is forecast to see sluggish home sales in 2011 on 3.4% average housing deflation.

Dallas suburb report:
Refer to spreadsheet Dallas suburb report

Dallas homes and real estate data:

	Dallas	National
Owners:	43.2%	66.3%
Renters:	56.8%	33.7%
Median Home Size (Sq. Ft.):	1,446	– –
Avg. Year Built:	1962	– –
Single-Family Homes:	73.3%	– –
Condos:	13.7%	– –
Property Tax:	$4,583	$3,025

Dallas People Data:

	Dallas	National
Median Household Income:	$37,628	$44,512
Single Males:	19.3%	14.6%
Single Females:	15.1%	12.5%
Median Age:	32	36
Homes With Kids:	28.5%	31.4%
Average Household Size:	2.58	2.589
Average Commute Time (Min):	28.105	26.376

 

Sources:
Wikipedia, Lonely Planet, Zillow, Trulia, US Market Outlook, First National, Re/Max, Propertywire

 

 

 

Where to buy?

Quite obviously one of the key questions to investing in property in the US is where to buy or what area to focus on.  Below is a list of options I have complied from the various buyers agents and other investors located in Australia…

Ecco – Various locations, Michigan

US Prime property – Memphis

My USA property – Kansas City, Dallas, Atlanta, Miami et. al.

888 US Real Estate – Kansas City, Atlanta

Housebuyers USA – Phoenix, Kansas City, Pontiac, Memphis, Atlanta

Cash flow gold – Detroit / Michigan

Property in USA for Australians – Phoenix, Kansas City, Memphis

Steve McKnight – Fort Lauderdale (Florida)

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Many of these buyers agents purchase in different areas throughout the states, as a single investor it is important for me to focus on one particular area and stick with it.  Over the coming few days I will attempt to provide preliminary research on the following US cities/areas;

Dallas/Fort Worth (DFW), Texas

• Why?  From my initial observations I understand the market in the DFW area has not bottomed out as significantly as other parts of the US.  From a simple convenience point of view, direct flights in to Dallas with Qantas makes this more attractive, particularly with little time off from my current job.  I’m hoping there are still great cash-flow deals available in the area.

Atlanta, Georgia

• Why? Seems many buyers agents are focusing on the area.  Initial observations saw a large drop in prices through to the end of 2010.  With increased investment opportunity, it seems the first half of 2011 has seen the property market stabilise, though still presents an opportunity as a buyers market.

Kansas City, Missouri

• Why?  With a sheer number of Australian investors focussing on the Kansas City area, this city definitely warrants further investigation.  Unfortunately, if this market is already flooded with international investors it might prove difficult taking the “slow and steady” wins the race attitude.

Miami & greater metro area, Florida

• Why? Miami has seen some of the biggest drops in real estate values compared with the rest of the country. An over supply of housing means this market would likely continue to fall in the near future – whether this statement is also applicable to small value investment properties is yet to be seen.  From a convenience standpoint, as a key tourist destination, access to and around Miami shouldn’t be a problem.  Plus I love dexter.

Now – off to get my passport notarised for my ITIN (US tax number) appplication!

Welcome.

Welcome to my blog.

At present, I am in the process of organising a trip to the USA for the eventual purchase of cash-flow positive property.  As an Australian, I have been brought up with the belief that ‘owning your own home’ will ensure financial success, happiness, security etc. Unfortunately, as a firm believer in cash-flow positive property, investing in Australian property is simply too expensive and exhaustingly difficult. Thus, we arrive at the USA.

This blog is dedicated to sharing my property purchase experience & research that I do along the way. I need a medium to share and dissect this research, so hopefully talking about it will help me to understand better.

I’d appreciate and encourage any questions that you may have so feel free to send them through.

Thanks for reading,

Anthony