Investors home in on Atlanta opportunity

Australasian investors have been quick to snap up American properties being sold and managed by the Ray White group after it established its first US office in October.Ray White Surfers Paradise director Greg Bell, one of the main driving forces behind Ray White’s US venture, said buyers had been encouraged by strong returns and the ability to buy a family home for less than $100,000.“Investors are identifying fantastic value in American property and consequently we are transacting between 20 and 30 properties per month,” Mr Bell said.“We are based in the United States’ strongest rental market, Atlanta, where renovated, freestanding homes are selling for less than $100,000.“The investment return on the properties is phenomenal and far surpasses what is achievable on our own shores.“Because of that, a number of investors we have dealt with have bought four or five properties to create a comprehensive investment portfolio.”Mr Bell said by the end of 2014, Ray White has ambitions to have several thousand properties in Atlanta under professional property management on behalf of investors throughout Australasia.He said Ray White’s involvement had given buyers the confidence to move forward with their overseas investment.“There is often a sense of hesitation on behalf of local buyers when working with foreign investment companies,” Mr Bell said.“So working with a long-established and reputable local company such as Ray White has given them peace of mind.“Sales have predominantly been to Australian buyers, but also Chinese and Indonesian investors who are familiar with the Ray White brand given our strong presence throughout Asia.”Mr Bell said Ray White comprehensively managed the investment process on behalf of its clients from the start.This includes setting up a limited liability company (LLC), tax and accounting processes and an American bank account for the rental income to be paid into.Atlanta is one of America’s fastest growing cities, home to some of the world’s biggest companies and America’s busiest airport.