Forum Replies Created
Thanks winterose
I'm looking at using a property buyer in melbourne, so i would have no problem using one in the US.
I'd still go over and check things out myself but i'm happy to pay for good avice and even better if they find and bring in a good deal with less risk.
Dean
Hi sapphire101
You raise some great points but did you really deduct the "opportunity cost of bank interest" from the returns?
I too would like to know about utility costs, maintenance (especially winter snows, cracked driveways and as tony mentioned, possible council fines) and tax arrangements.
I understand the US has a tax treaty with Australia to prevent being taxed twice.
I take it the extensive rehabs could be depreciated and come off the tax bill. And it would be fair to expect a newly renovated home would go a few years without needing any maintenance, or might just need a few corners tidying.
And while Delaware is a low taxing state, isn't any foreign income going to be counted back in Oz, unless you're hiding it in a US company and spending on a company issued credit card?
That brings up the topic of capital growth. Seems to be two views that the US will either go up or further down. If it goes up a bit, a change in currency would be a bonanza. I've yet to see a decent explanation on how the Oz dollar devalued and/or revalued by 30% in three months. If the US goes further down, the biggest issue is unemployment leading to vacancy. If dropping the rent will help get tenants in then 20% provides some serious margins.
Other than Vincent and Michael being very excited about the opportunities, and Tony and Nigel seeming to hose things down a bit with Richard quietly charting improving money borrowing ops, I don't see discussions of many other Oz buying agents such as Dymphna Boholt, Carly Crutchfield and Jon Giaan.
Tony, was the whole thing a nightmare or did you make money?
John So, you owning and up and running?
Nigel, what you got?
Anyone got 5 properties now and doing well?
This is a 25 page transcript of Dymphna Boholt talking about buying in the US:
http://knowledgesource.com.au/freedom2010/
Jon Giaan claimed to have bought 6 properties in 21 days in Oct 2009 (?) following Dyphmna's advice – wonder if we could lure him into the forum to talk about his efforts?
Dean
http://www.wishihadsomethingtosellbutidontbutthoughtidaddaurltolooklikeapro.com
PS I've just looked through posts relating to Dyphmna and the original question has gone unaswered save one. Is anyone using her material and enjoying success, and could we perhaps get some details especially if in Victoria? I attended her Melbourne seminar yesterday and having done Steve's RESULTS program, thought she came across quite well. A buddy signed up based on her 90-day and 12-month moneyback guarantee, and I'm keen to see him use them if he's not making pgoress with her.
donnac wrote:Go to http://www.jenman.com.au and search the site for Dymphna Boholt. I always check Neil's site first before buying any courses or books etc. He is usually 'outing' the spruikers before they hit the headlines.
CheersI just read three postings on Jenma's site and they were merely rants. Virtually no fact at all. He names virtually every person in the wealth education industry and virtually labels them a fraud.
Any factual posts on jenman's site or do I have to waste time trawling through more rants to find some?
Paying for the seminars, workshops, homestudy, mentoring, data access and so on are like gym memberships – you get out what you put in. After reading the posts about Massland I've decided not to enrol in their teaching but I just finished talking to a contact with a $3m development deal who, after attending Mark's seminar, went back and tweaked his existing option arrangement and added 3 extra units and will get an extra $350K profit.
I call this the 'nugget' – the piece of gold info that unlocks a whole new approach or gives you the solution to a problem. You can find the 'nuggets' in low-cost books, at free seminars or even expensive seminars. They come from talking to agents, builders and your humble accountant. But like gold, you have to be prospecting for them and be ready to accept that they can turn up almost anywhere, as long as you keep looking.Hi Ronsab
How did you go in Werribee? I’ve just started looking at doing the same thing but haven’t yet got in touch with the council or got the figures on what I’d build at the back.
Regards
Dean
Hi Lee
I just got back to Canberra after spending the weekend in Albury. How are the untis going a few months on and what attracted you to Albury, all the way from Canberra?
Did you go to Albury with the intention of finding the units or did the numbers just come out that way?
Ta
Dean
