Total Members: 158,565

HuMungus

  • HuMungus replied to the topic Best Auction Bidding Strategies in the forum Help Needed! 8 years, 11 months ago

    I attended a couple of Public Trustee auctions last week and had time to discuss common strategies often encountered at auctions with the auctioneer. I have attended more auctions than I can remember covering many different categories including Property. So here are a couple of tips.
    1. ALWAYS attend at least a couple of Property auctions as an…[Read more]

  • HuMungus replied to the topic NEW: US Property Focus Group (Free to Join) in the forum Overseas Deals 9 years, 1 month ago

    Probably the first thing to consider is what your overall goal is for investing in the US then what structure are you going to invest under, an LLC or what, from here you need to get the structure set up first.

    Let’s say you are going to use and LLC.
    1. What State are you going to register it in?
    2. What are the State taxes for companies?
    3. Are…[Read more]

  • HuMungus replied to the topic NEW: US Property Focus Group (Free to Join) in the forum Overseas Deals 9 years, 4 months ago

    Before you send money over you will need to have somewhere to send it to, ie a bank account, as for which and where.. I will not make any recommendations that one you will have to sort out with your partner.

    On transferring funds, we used AFEX, http://www.afex.com very helpful and seriously competitive rates, much better than any bank and you are going…[Read more]

  • HuMungus replied to the topic NEW: US Property Focus Group (Free to Join) in the forum Overseas Deals 9 years, 4 months ago

    Yes it is difficult and most of the big banks which have retail banking centers in a wide range of states will require you to front up with all your documents.

    We managed to open with Suntrust in Florida, but had to get all documents notarised by an approved Notary. They have limited reach and are mainly represented in the south east. There are…[Read more]

  • HuMungus replied to the topic NEW: US Property Focus Group (Free to Join) in the forum Overseas Deals 9 years, 6 months ago

    Freedom, impatience can be costly as it is an irrational emotion and there is no place for emotion when investing in property. Property is a business, nothing more, nothing less and all decisions have to be made on sound due diligence and grounded reason.

    Before you buy anything you have to know what you are going to do with it, rent, rehab and…[Read more]

  • HuMungus replied to the topic NEW: US Property Focus Group (Free to Join) in the forum Overseas Deals 9 years, 6 months ago

    We have been buying redeemable deeds in Indiana. First year turned into a bit of a disaster, one was redeemed so made a good return, the other we received the deed and started planning the rehab. One day our property manager went to the house and there was a “For Sale” sign out front!!! Turns out the house should never have been auctioned as it…[Read more]

  • HuMungus replied to the topic NEW: US Property Focus Group (Free to Join) in the forum Overseas Deals 9 years, 6 months ago

    Where Aussies actively investing in the US is concerned… Yes there are plenty. They cover all areas form Liens & Deeds through Foreclosures and straight property purchases. As for groups, I am not sure, I would certainly be nice to find a group in my area, Hope Island on the Gold Coast, so one can share ideas and discuss with like minds.

    If…[Read more]

  • HuMungus replied to the topic Setting up US LLC and Bank Accounts in the forum Overseas Deals 9 years, 7 months ago

    Yep, that’s pretty much what one of the paragraphs on the web page stated.

    Tax differences between states is complex, so one must be circumspect as to how one expresses oneself, blanket statements which can mislead people are not well advised.

    This forum is read by many and they have varying degrees of experience, so as far as I am concerned we…[Read more]

  • HuMungus replied to the topic Setting up US LLC and Bank Accounts in the forum Overseas Deals 9 years, 7 months ago

    This is incorrect, all corporations have to pay income tax in Florida. I am not going to go into details but if you check this link to Florida Dept of Revenue, you will discover all the details: http://dor.myflorida.com/dor/taxes/corporate.html

    Currently to my knowledge the only states that are tax free are Nevada and Delaware

  • HuMungus replied to the topic Buying property in the US in the forum Overseas Deals 9 years, 7 months ago

    No reviews or comments!!… that should scare the hell out of you!!

  • HuMungus replied to the topic US Mailing Address in the forum Overseas Deals 9 years, 7 months ago

    Have a talk to your CPA, ours does it for us, for a small fee or course. The big boys won’t be interested, but a single operator probably will be.

  • HuMungus replied to the topic Setting up US LLC and Bank Accounts in the forum Overseas Deals 9 years, 7 months ago

    There are some important area of setting up an LLC which have been overlooked in this discussion but need to be considered.

    1. What state are you going to set your LLC up in? Most states tax, except for Nevada and Delaware
    2. If you have property in several different states and all within one LLC, the LLC is considered a “Foreign Entity” in all…[Read more]

  • HuMungus replied to the topic Daniel Kertcher Trade Ability Income Course in the forum Heads Up! 11 years, 11 months ago

    In general things have been going well and apart from some CFDs which we are allowing to run for an upturn in the market, we have consistently returned a profit on our options each month. On average, based on capital exposed in our options trades, we have returned arounf 6% per month, so very happy, beats what the banks offer!We have now completed…[Read more]

  • HuMungus replied to the topic Daniel Kertcher Trade Ability Income Course in the forum Heads Up! 12 years, 9 months ago

    It was an incredible weekend, sorry you had to pospone Steve. I think you missed out on a heap of incredible content that Daniel does not normally discuss in this course but is reserved for the Masters course, but he felt that due to the significant nature of the current market, we should be aware and have a better understanding.I wish I had met…[Read more]

  • HuMungus replied to the topic Interest Rates In Limbo in the forum Heard a comment on the ABC 12 years, 10 months ago

    Heard a comment on the ABC this morning that the IMF is now telling the RB to raise interest rates! It's a real worry when the IMF starts telling one of the worlds most stable economies what to do! Think I'll switch to Gold….

  • HuMungus replied to the topic Interest Rates In Limbo in the forum General Property 12 years, 10 months ago

    With the US increasing it's debt ceiling and carrying a total debt in excess of $100 trillion, Federal, state and personal debt, it's little wonder significant US investors like China, ($1T+ in US Bonds) are getting nervous and looking to reduce their exposure in favour of more stable economies. There is a feeling in the FX markets that the AUS$…[Read more]

  • HuMungus replied to the topic Interest Rates In Limbo in the forum General Property 12 years, 10 months ago

    I'm no economist either, but the high interest rates are elevating the value of the AUS$ which is severely damaging our export economy. Since interest rates are low almost everywhere else in the world, it is also causing other countries to purchase our dollar, which is seen as a stable currency, this also assists the high $ value.Everytime the…[Read more]

  • HuMungus replied to the topic Daniel Kertcher Trade Ability Income Course in the forum Heads Up! 12 years, 10 months ago

    Yes my wife and I signed up and are also doing the Gold Coast course, my daughter is following up and doing the course in October. Got Daniels game 'Call Up – Put Down" as well, need some time to play but has us totally hooked! It's well worth playing before going as it gives an excellent overview of the options process.We are now seriously hungry…[Read more]

  • HuMungus replied to the topic New to Oz & confused about some real estate terminolgy in the forum Help Needed! 12 years, 12 months ago

    Semi and duplex are pretty much the same, one building, could be single or 2 levels, with two dwellings and a common or party wall. They are usually a reflection of each other and could be independent (torrens) title, strata title or community title, the latter will tend to be several duplexs on one block. For villas read townhouses, much the same thing.

  • HuMungus replied to the topic New Investor – please help :-) in the forum Help Needed! 13 years ago

    You've had some great advice here from a number of contributors, but someting I have not seen mentioned which needs to be considered if you are entering the IP market for the first time is 'structures'. You mentioned you have a new bub and a single income which makes establishing the right investment structure even more important so you can…[Read more]

HuMungus

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