Total Members: 158,522

biggaz13

  • biggaz13 replied to the topic Has anyone had their property Foreclosed in the US? in the forum Overseas Deals 10 years, 11 months ago

    Thanks everyone for your input.

    Thejajco, thanks for your candid response about your experiences in Buffalo.

    I am very interested to hear how things play out.

    Hope you get the best outcome.

  • biggaz13 replied to the topic Economic Crisis Ahead, the golden truth! in the forum General Property 10 years, 12 months ago

    When I was much younger in the 1980's I watched a silly movie called "Gremlins". It had several funny lines and one sticks with me. If you added water to these Gremlins they re-produced like crazy. So picture all these nasty Gremlins running around the place. One Gremlin was particularly smart and pretended to be a stock broker on the phone.…[Read more]

  • biggaz13 replied to the topic Precise Property Management, MO in the forum Overseas Deals 10 years, 12 months ago

    Great to hear from you Rosa.
    Awesome outcome.
    Will be even better if the Aussie $$ continues to slide.

  • biggaz13 replied to the topic Has anyone had their property Foreclosed in the US? in the forum Overseas Deals 10 years, 12 months ago

    So far the feedback has basically been: Avoid Bufallo.
    You would have to question why a financing vendor would take such a high risk borrowing money into a bad market.

  • biggaz13 replied to the topic Has anyone had their property Foreclosed in the US? in the forum Overseas Deals 10 years, 12 months ago

    Fascinating.
    It would appear Jajco’s options are not so simple.
    It would also appear the current property managements advice to walk away and default could be bad advice.
    Jajco’s, how’s it panning out?? and good luck.

  • biggaz13 replied to the topic Has anyone had their property Foreclosed in the US? in the forum Overseas Deals 10 years, 12 months ago

    Nigel
    To save me hours of Googling and research.
    What’s wrong with Buffalo??
    What would attract someone to buy an investment property in Buffalo? The bank must have had some faith in the deal if they helped fund the deal.
    I don’t recall Buffalo ever being offered/advertised/portrayed as an appealing option for overseas investors.
    For example, most…[Read more]

  • biggaz13 replied to the topic Brisbane market in the forum General Property 10 years, 12 months ago

    JacM of 1992 posts. I’m rating your post with a thumbs up.
    If the pattern of the last 120 years holds true, and I reckon it will.
    The good times are not too far away.

  • biggaz13 replied to the topic Precise Property Management, MO in the forum Overseas Deals 10 years, 12 months ago

    Has anyone heard from Rosa Tong lately????

    Hope she sorted this mess out.

  • biggaz13 replied to the topic Brisbane market in the forum General Property 10 years, 12 months ago

    JacM (1990 posts!!!!!! = Awesome) –

    I reckon that’s a pretty safe bet. During the good times, I also reckon the top-end property market will fly the highest.

  • biggaz13 replied to the topic Brisbane market in the forum General Property 10 years, 12 months ago

    Freckle

    How on earth have you made 1115 posts in 16 months????
    I decided against trawling through 1115 posts so I’ll ask here:

    In fact, I will re-ask Geddo’s question from above: Why do you hang around a property investing website when you state “the entry time for property is not now. Hasn’t been for years now”?

    I am confused by another…[Read more]

  • biggaz13 replied to the topic Post Divorce Disaster in the forum Legal & Accounting 10 years, 12 months ago

    The first thought that came to my mind was: Sack your lawyer.

    I have never heard of a court injunction preventing someone from filing for bankruptcy.

    I just had a glance at the Commonwealth Bankruptcy Act 1966. It looks long and complex. To muddy things further, there appears to be variations between the States.

    I would seek proper legal advice…[Read more]

  • biggaz13 replied to the topic Has anyone had their property Foreclosed in the US? in the forum Overseas Deals 10 years, 12 months ago

    Out of curiosity:
    Who is the mortgage through??
    Why Buffalo, New York??
    Define “ruined”.
    Define “poor property management”.
    When did you purchase the house??
    Who did you purchase the house through?? i.e. Buyers Agent??

    If you successfully got a mortgage through a US bank then presumably your deposit was sizable (upwards of 50%). By US law, you…[Read more]

  • biggaz13 replied to the topic Precise Property Management, MO in the forum Overseas Deals 11 years, 3 months ago

    I've had lots of promises but nothing yet.
    "All talk and no action." as the saying goes.
    It would appear the tenant has stopped paying. I probably wouldn't know this if I hadn't of made repeated enquiries.
    The level of communication is terrible. I still can't work out whether its because they are apathetic, incompetent, inexperienced or…[Read more]

  • biggaz13 replied to the topic Precise Property Management, MO in the forum Overseas Deals 11 years, 3 months ago

    Hi Rosa
    Any feedback on the cleanup of the house??
    I'm lead to believe finding tenants in KC is difficult in January (bloody cold!!).
    Hope it goes well for you.
    Gary

  • biggaz13 replied to the topic US Property – good idea if America goes broke? in the forum Overseas Deals 11 years, 4 months ago

    Sounds like a half glass empty approach to me.
    USA – going broke
    Greece – broke/harsh austerity measures/defaulting
    Spain – 25% unemployment
    UK- double dip recession on the way
    France – massive debt problems
    China – hard landing
    Germany – weak
    Euro – collapsing
    Australia – "Massive property bubble" Harry Dent
    Ireland – in strife and part of the…[Read more]

  • biggaz13 replied to the topic Precise Property Management, MO in the forum Overseas Deals 11 years, 4 months ago

    Hi Rosa

    As I see it, this is one of the main problems Australians will have investing overseas. Apathetic, incompetent or simply inexperienced property managers who know you are 14,000 kilometers away. 

    I have 2 property managers here in Adelaide. If there are issues, flick them an email, pick up the phone or take the 5-10 minute drive to their…[Read more]

  • biggaz13 replied to the topic Precise Property Management, MO in the forum Overseas Deals 11 years, 4 months ago

    Hi Rosa.
    What problems are you having with them???
    Thanks

  • biggaz13 replied to the topic US BANK ACCOUNT in the forum Overseas Deals 11 years, 4 months ago

    Turns out some Australian investors who had their bank account setup with Wachovia then migrated over to Wells Fargo are now having issues.
    Long story short.
    Some international accounts have been made "dormant" as the account holder had not been to an ATM machine or used a cheque in the US despite regular deposits. Now there is some exercise in…[Read more]

  • biggaz13 replied to the topic US tax return help -Aussie with US property investment in the forum Overseas Deals 11 years, 5 months ago

    Hi Ivanc

    We used:

    Daniel Mitchikoff, CPA, FTIA
    Director, Expatriate Taxation Services Pty Ltd
    Mobile 0421 058 767 (Australia)
    Email [email protected]

    We have 2 properties.
    All done via email.
    From memory it cost around $500. Cheaper in subsequent years.

    All the best.

  • biggaz13 replied to the topic US BANK ACCOUNT in the forum Overseas Deals 11 years, 6 months ago

    Just received information this morning that Wells Fargo are closing all of its bank accounts to those people living outside of the USA.
    Something about a loss prevention strategy. In fact many accounts have already been closed.

    Personally I think the information is bogus.

    Googling has revealed nothing.

    Has anyone else heard about…[Read more]

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