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Hi TassieJH,
Ha ha – thanks for the post.
Good point about the US bank accounts – I hadn't thought of that benefit.
Did you incorporate in Delaware? Do you mind sharing how you did it and roughly how much it cost?I really need to research some more about the SMSF. Even if the tax benefits aren't great, it allows me to tap into some additional cash and put into an investment that I think will be hard to replicate in years to come.
My plan is to have some US property in SMSF (bought for cash) and some in my own name (or LLC).
Which part of the US did you invest in by the way?
Scott
Hi TassieJH,
Are you convinced the LLC option is worth the hassle? I'm looking at buying some property in my own name in addition to the SMSF and I've read conflicting opinions on the benefits of using an LLC versus buying in your own name and just having good insurance if the tenant sues.
What made you go the LLC path and are you happy with your decision.
Scott
Great to have you back Steve. I like your 3 month plan for Miami. That will give you plenty of time to really scope the market out and wait for the sweet deals that you have to be on the ground to find and act quickly on. I think this will outweigh potentially missing the bottom of the market later in the year.
I too am planning to head to Miami this year. Look forward to your updates on the REO situation and your real estate adventures in general.
Cheers,
Fishface
I support all the favourable comments made above regarding Steve's posts on Miami. They have been brilliant. The question is, where has he gone?
Come on British Buyer…tell us what you're thinking.
We want you back!Fishface
Hi Steve,
I am also looking at buying property in the US through a SMSF. Have you managed to find out any useful info since your post?
Fishface
