PropertyInvesting.com | Portpirate | Activity https://www.propertyinvesting.com/members/portpirate/activity/ Activity feed for Portpirate. Mon, 13 Apr 2026 13:56:54 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 90d8bf415f1d8d255107af6773df155f Portpirate replied to the topic soooo Who here ownes property in USA ? in the forum Overseas Deals https://www.propertyinvesting.com/topic/4404716-soooo-who-here-ownes-property-in-usa/page/3/#post-4655772 Wed, 12 Oct 2011 08:18:37 +0000 When you work for yourself, you don’t get any leave.

]]> b2155761883d523d9f818f556117549b Portpirate replied to the topic soooo Who here ownes property in USA ? in the forum Long service leave is https://www.propertyinvesting.com/topic/4404716-soooo-who-here-ownes-property-in-usa/page/3/#post-4655770 Wed, 12 Oct 2011 07:44:41 +0000 Long service leave is unfortunately a dying practice, Jay. But guess what, we get 17.5% extra on our wages when we take it. How about that?

]]> 95b4f3d4cf28c89c5bc1324ae0e5eb88 Portpirate replied to the topic USA Property Management...The Real Truth Part 6....FINAL! in the forum Overseas Deals https://www.propertyinvesting.com/topic/4404895-usa-property-management-the-real-truth-part-6-final/#post-4656960 Sat, 08 Oct 2011 21:19:39 +0000 Just a question to the Americans. In Australia, we have a RTA. Rental tenancies authority. This is a government dept which looks after tenancy matters, disputes, etc and also holds all bonds, usually 1 months rent, until the end of the tenancy. The property manager signs off on a form that the home is undamaged, etc and the tenant applies for…[Read more]

]]> c871be937fd36aab6a4d2087c95ace61 Portpirate replied to the topic Detroit Properties generating 20% return? in the forum Overseas Deals https://www.propertyinvesting.com/topic/4404840-detroit-properties-generating-20-return/page/2/#post-4656625 Tue, 04 Oct 2011 09:54:18 +0000 Dj_ajay

I think the properties only cost Jay 5k in the first place so interest free finance is all profit. Is that right, Jay?

]]> 56fc6ca586d59fca44930a7525e25db1 Portpirate replied to the topic Hmmm I wonder how MyUSA, HouseBuyersUSA, 21st Century Property, 888 Real Estate get their property? in the forum Overseas Deals https://www.propertyinvesting.com/topic/4404824-hmmm-i-wonder-how-myusa-housebuyersusa-21st-century-property-888-real-estate-get-their-property/page/2/#post-4656504 Thu, 29 Sep 2011 01:35:35 +0000 Similar experience with HousebuyersUSA.  Salesperson hadnt even been to the U.S.  Upfront fee for a look.

]]> a507d70769d9d2b29074f728d2df8263 Portpirate replied to the topic Detroit Properties generating 20% return? in the forum Overseas Deals https://www.propertyinvesting.com/topic/4404840-detroit-properties-generating-20-return/#post-4656606 Wed, 28 Sep 2011 21:37:42 +0000 Nathan.

I don’t see anything in your figures for repairs, vacancies or letting fees?

]]> ad2bb374089d2f4bec36c1b9f75a3203 Portpirate replied to the topic Hmmm I wonder how MyUSA, HouseBuyersUSA, 21st Century Property, 888 Real Estate get their property? in the forum Overseas Deals https://www.propertyinvesting.com/topic/4404824-hmmm-i-wonder-how-myusa-housebuyersusa-21st-century-property-888-real-estate-get-their-property/#post-4656495 Wed, 28 Sep 2011 00:39:13 +0000 Property-Scout,I agree with regarding Top Rental Returns.  My only issue is that there is NO mention of maintenance costs, letting fees (1 months rent) or vacancies in their figures.  They say to allow 6 weeks per year for vacancy plus ongoing costs.  It makes a big mess of figures.

]]> 48822bc077e77eebb8ae0ff3523c6644 Portpirate replied to the topic The Reality of US Banking...As I See It. in the forum Highincomeproperty,I think https://www.propertyinvesting.com/topic/4404822-the-reality-of-us-banking-as-i-see-it/#post-4656479 Tue, 27 Sep 2011 23:22:03 +0000 Highincomeproperty,I think in the long term, your flips may be the way to go for Aussie investors as property management seems to be the biggest issue.  Do you have any information on this?

]]> 47e4510fb1a9da5ca043794aeac5c68c Portpirate replied to the topic soooo Who here ownes property in USA ? in the forum Overseas Deals https://www.propertyinvesting.com/topic/4404716-soooo-who-here-ownes-property-in-usa/page/2/#post-4655757 Tue, 27 Sep 2011 22:00:34 +0000 I had a look at these guys website. There is a property on there, a duplex in Atlanta, that I was offered about 3 months ago from a us wholesaler. Can’t remember too much about it but I do remember that it was a whole lot cheaper than what it is now so they’re all on the gravy train. I see they allow $191 p.a. In maintenance costs. Is that…[Read more]

]]> d41760b5c7f6d860e775590e2ddb0217 Portpirate replied to the topic HSBC or Citibank in the forum Overseas Deals https://www.propertyinvesting.com/topic/4403284-hsbc-or-citibank/page/2/#post-4645433 Wed, 21 Sep 2011 23:00:45 +0000 Comment from OZforex regarding bringing money from overseas: If you got the rental money deposited straight into our account we would be able to transfer the funds back to your Australian account. We are not however a deposit holding institution so any funds sent to us would need to be transferred back to your Australian bank account. If that’s t…[Read more]

]]> f40b2216b07fbc0687c765a31d5f6117 Portpirate replied to the topic Did anyone used this Agent : 888 US Real Estate in the forum Overseas Deals https://www.propertyinvesting.com/topic/4404768-did-anyone-used-this-agent-888-us-real-estate/#post-4656148 Wed, 21 Sep 2011 22:56:15 +0000 Another pay upfront mob.

]]> 1181887cdc5ae70a1842b9523197bfb1 Portpirate replied to the topic USA Property Management...The Real Truth Part 3....THIS IS A MUST READ!!! in the forum Overseas Deals https://www.propertyinvesting.com/topic/4404670-usa-property-management-the-real-truth-part-3-this-is-a-must-read/#post-4655484 Sun, 18 Sep 2011 09:23:52 +0000 What nobody has mentioned as far as I know is the idea of an Australian consortium buying a number of US homes, thereby sharing the risk of vacancies, repairs etc. If you are going to invest in property anywhere, you need multiple properties because if you only have one or two, a vacancy, repair or non paying tenant can Mae a massive hole n the…[Read more]

]]> 7843a05d42ae2af41a30741f99a09d22 Portpirate replied to the topic USA Property Management...The Real Truth Part 3....THIS IS A MUST READ!!! in the forum Overseas Deals https://www.propertyinvesting.com/topic/4404670-usa-property-management-the-real-truth-part-3-this-is-a-must-read/#post-4655482 Sun, 18 Sep 2011 00:38:53 +0000 Interesting exchanges happening. For what it’s worth, I actually agree with both of the posts above. The US is different from Oz and as we Aussies are the “aliens”, I guess we have to respect the differences. We want what they have, which is investment opportunities, something sadly lacking in Australia at present. So it makes sense to understand…[Read more]

]]> c718fca047379c76b2e6a064d246e6ee Portpirate replied to the topic Overseas Property Sale - Funds back into Australia in the forum Transfer it whle Greece is https://www.propertyinvesting.com/topic/4404730-overseas-property-sale-funds-back-into-australia/#post-4655972 Fri, 16 Sep 2011 21:26:05 +0000 Transfer it whle Greece is still solvent? Governments have been known to freeze bank withdrawals.

]]> 72595982d34ca8997fa835ff6499fb99 Portpirate replied to the topic soooo Who here ownes property in USA ? in the forum Overseas Deals https://www.propertyinvesting.com/topic/4404716-soooo-who-here-ownes-property-in-usa/#post-4655732 Thu, 15 Sep 2011 21:45:37 +0000 Alexsc

I didn’t mean to denigrate Americans. But the horror stories I am getting are coming from Americans themselves as well as Aussies. What I am referring to is the buy and hold investor not the hands on investor. An australian investor mostly wants hands off investment in another country. The spruikers of us property provide little or no…[Read more]

]]> 981aee77e991b3fc99bae42ea79e0975 Portpirate replied to the topic soooo Who here ownes property in USA ? in the forum Overseas Deals https://www.propertyinvesting.com/topic/4404716-soooo-who-here-ownes-property-in-usa/#post-4655729 Thu, 15 Sep 2011 06:31:33 +0000 Nearly bought in Atlanta, GA.  Nice properties.  I am exploring other avenues of investment in the US property market now without maybe actually owning any.  There are some horror stories around, even from the very people selling them.  It almost makes me wonder if there is as much profit in them as first appears.  In some cases, I think you are…[Read more]

]]> d83abc0385981b3ad5d9d4cf7143a371 Portpirate replied to the topic soooo Who here ownes property in USA ? in the forum Overseas Deals https://www.propertyinvesting.com/topic/4404716-soooo-who-here-ownes-property-in-usa/#post-4655727 Thu, 15 Sep 2011 06:15:42 +0000 Well, I tried to buy one. Turned out no renters were allowed in that subdivision. Didn’t find out until closing, but did get my money back. I only lost on the exchange rate. Worth checking things like that in the future though. It’s made me a bit cautious.

]]> b932c98ef863a92e5a98796ae78fab99 Portpirate replied to the topic further research for USA investing. in the forum Overseas Deals https://www.propertyinvesting.com/topic/4402681-further-research-for-usa-investing/page/3/#post-4641128 Sat, 30 Jul 2011 08:09:32 +0000 Starting to look like a no-brainer. Interest rates set to rise again in Oz. Lowest home sales in 27 years and talk of recession. If the USA could just borrow a few bucks off Steve Jobs, we could all breathe easy and buy more US property. Although, with the USA being flat broke, maybe we would better off just buying the whole country. $200 should…[Read more]

]]> 95692f82b06668736fa0c36e73fdbca0 Portpirate replied to the topic offically mine in the forum Overseas Deals https://www.propertyinvesting.com/topic/4403147-offically-mine/page/4/#post-4644191 Fri, 22 Jul 2011 23:40:45 +0000 Rick,i was refering in the eighties to aussie farmers taking US loans which turned against them when the dollar took a plunge.  Nothing to do with 19% interest rates here.Some economists say the Australian housing property market will crash.  I dont believe this will happen, but we are seeing a slow decline in prices.  I experienced it in the 90…[Read more]

]]> e4fc471cc20dd462d7454af744ff2766 Portpirate replied to the topic offically mine in the forum Overseas Deals https://www.propertyinvesting.com/topic/4403147-offically-mine/page/3/#post-4644189 Fri, 22 Jul 2011 22:46:26 +0000 right. Australian property is way over priced to the point where it is totally unaffordable. Great for the rental market but what is the future for capital growth? The oldest saying in Real Estate is that something is only worth what someone will pay for it. When there are few buyers like now, what is your investment property worth? A big fat…[Read more]

]]> e0aedbfdb11d58ab41d2598702251db6 Portpirate replied to the topic offically mine in the forum Overseas Deals https://www.propertyinvesting.com/topic/4403147-offically-mine/page/3/#post-4644188 Fri, 22 Jul 2011 22:34:15 +0000 Jay

Yes, Aussie deposits can get you 7% totally risk free. take 30% off that for taxation and inflation of say 3% and there ain’t much left if any. I don’t think too many Aussies will be borrowing against Australian held assets to buy US property. They only need to think back to the 80s when a lot of farmers lost their farms through foreign…[Read more]

]]> 1b300cedbd38b478f2dcaddbb21c444e Portpirate replied to the topic offically mine in the forum Jay, Aussie interest rates https://www.propertyinvesting.com/topic/4403147-offically-mine/page/3/#post-4644186 Fri, 22 Jul 2011 06:26:20 +0000 Jay,Aussie interest rates are comparatively high because of the strength of the Australian Economy.  Unfortunately for Australians, overseas investors see our high interest rates and pour money into our bank accounts, etc.  Ultimately this leads to too much money in the economy which then starts to overheat.  Consequently, interest rates are ra…[Read more]

]]> f3fa4753f669eee923a55b76db577979 Portpirate replied to the topic MyUSAProperty - Beware !!! in the forum Overseas Deals https://www.propertyinvesting.com/topic/4401605-myusaproperty-beware/page/3/#post-4634602 Sat, 02 Jul 2011 05:52:51 +0000 I have spoken to Housebuyers USAquite a few times but I cant quite get my head around paying upfront to look at listings.  Makes me wonder what they're afraid you're going to do.  One place I know of, did send me some pics and information and I tracked down ho they were buying from in the U.S. and it was $10,000 cheaper so I guess they have to hi…[Read more]

]]> 4e8e0dfc2edd72de56da308102892200 Portpirate replied to the topic MyUSAProperty - Beware !!! in the forum Overseas Deals https://www.propertyinvesting.com/topic/4401605-myusaproperty-beware/page/3/#post-4634598 Sat, 02 Jul 2011 02:52:49 +0000 I received the same information from them.  I am only on their emailing list.  I have never actaully dealt with them.

]]> 0ed72d5a37e6030e84c2d15aae624e8d Portpirate replied to the topic USA - Where to buy? in the forum Jay So as a matter of https://www.propertyinvesting.com/topic/4403705-usa-where-to-buy/page/4/#post-4648242 Tue, 28 Jun 2011 11:47:59 +0000 Jay

So as a matter of interest, what is the investment level required?

]]> b4f369e22fbe1a730be8d6f7181394c3 Portpirate replied to the topic USA - Where to buy? in the forum Overseas Deals https://www.propertyinvesting.com/topic/4403705-usa-where-to-buy/page/4/#post-4648239 Tue, 28 Jun 2011 05:31:38 +0000 Jay,Not sure what is on offer.  Visited the website but not much information there.  Is it a land purchase and then hold?

]]> 975ae6b460170210f471202e76f0fb64 Portpirate replied to the topic USA - Where to buy? in the forum Overseas Deals https://www.propertyinvesting.com/topic/4403705-usa-where-to-buy/page/3/#post-4648236 Mon, 27 Jun 2011 21:50:17 +0000 Detroit Dan

I looked initially at Detroit but decided I wouldn’t buy anything I wouldn’t live in myself and the 20% returns you mention would definitely not be in an area I would live. I also wonder about 20% returns over the long term. These would appear to be older properties which would most likely need more maintenance. I believe a house roof…[Read more]

]]> 23e215bbd14de9a20c60ef323da48701 Portpirate replied to the topic USA - Where to buy? in the forum Overseas Deals https://www.propertyinvesting.com/topic/4403705-usa-where-to-buy/page/3/#post-4648230 Mon, 27 Jun 2011 08:52:17 +0000 I think Australians chase the high cash-flow because interest rates in Oz are so relatively high. 7% on a risk free term deposit means there has to be a high return or lots of upside to make it all worthwhile. If I could get 10% net return with reasonable upside and little risk I would go for that. There are lots of people on here touting their…[Read more]

]]> 43785ac5ea4ce3728882d630aa9142ad Portpirate replied to the topic Lodging a tax return in the US in the forum rlillycrop wrote:Hi https://www.propertyinvesting.com/topic/4402362-lodging-a-tax-return-in-the-us/page/2/#post-4639197 Mon, 27 Jun 2011 01:15:36 +0000 rlillycrop wrote:
Hi MorganTurboTax produces all the paperwork directly. The only form it doesn't produce is the 1040-NR, however it does produce a 1040. So you can easily put the figures onto the 1040-NR yourself. You can then just mail the paperwork to the IRS. It will also produce State returns for you which again will print out all the…[Read more]

]]> 8be2b227e71de94ddd4ee4e6a7c0936e Portpirate replied to the topic offically mine in the forum Overseas Deals https://www.propertyinvesting.com/topic/4403147-offically-mine/page/3/#post-4644172 Wed, 22 Jun 2011 06:02:19 +0000 jayhinrichs wrote:
Portpirate,there you go, its like us crazy americans running up thousands of dollars of credit card debt at 18 to 30%… And then investing in the stock market.. Your better off paying off debt , getting into a cash position then investing. its epidemic here. Credit is far to easy. I did not realize your mortgage rates were so…[Read more]

]]> eca1216362be68f43cf236fbf2ba6be9 Portpirate replied to the topic offically mine in the forum jayhinrichs wrote:Well now https://www.propertyinvesting.com/topic/4403147-offically-mine/page/2/#post-4644169 Wed, 22 Jun 2011 04:44:55 +0000 jayhinrichs wrote:
Well now the horse is out of the barn,  If your saying Aussie investors are borrowing on their primary residences at 7 to 8% pulling cash out and investing in the states becasue they think they are going to get 15% to 20% return, and make the spread. Then what you have is a big transfer of weath, half of the aussies that do…[Read more]

]]> 69ad3db0dc62a781ec20cc8bf4016d5f Portpirate replied to the topic offically mine in the forum Overseas Deals https://www.propertyinvesting.com/topic/4403147-offically-mine/page/2/#post-4644167 Tue, 21 Jun 2011 23:10:28 +0000 jayhinrichs wrote:
Bilobunch:Not sure where to start other than to say these kind of transactions give our business such a bad name. However for everyone that comes forward to share a horror story there are 10 like you that are embarrassed would never admit they made a mistake or got taken by a Promoter or buying service.In the states we have…[Read more]

]]> fbe120f0cdeed2e97f76272312e9630d Portpirate replied to the topic Using a strong $ to invest in new zealand realestate in the forum Overseas Deals https://www.propertyinvesting.com/topic/4403645-using-a-strong-to-invest-in-new-zealand-realestate/#post-4647837 Wed, 15 Jun 2011 22:42:46 +0000 Some cheap real estate in Christchurch atm.

]]> 56d5166539760b251257e112b86df6be Portpirate replied to the topic USA Landlord Experiences so far. in the forum Don't know the fees but https://www.propertyinvesting.com/topic/4403760-usa-landlord-experiences-so-far/#post-4648686 Sun, 05 Jun 2011 07:44:49 +0000 Don’t know the fees but count on $250/hour I would imagine. Haven’t needed them yet but will in the not too distant future.

]]> 96769a05d0f0e16a5adaed5181042b3b Portpirate replied to the topic USA Landlord Experiences so far. in the forum Overseas Deals https://www.propertyinvesting.com/topic/4403760-usa-landlord-experiences-so-far/#post-4648684 Sun, 05 Jun 2011 07:22:17 +0000 I think these people may be able to help you out. They help people like us with U. S. Properties.
http://www.ustaxcentral.com/

Takes a couple of days to get an answer and like all accountants you probably have to sell your investment home to pay their bill.

]]> efe57484816673d9f0f9b34839b7fc63 Portpirate replied to the topic USA Landlord Experiences so far. in the forum Overseas Deals https://www.propertyinvesting.com/topic/4403760-usa-landlord-experiences-so-far/#post-4648677 Thu, 02 Jun 2011 06:19:04 +0000 Income is taxed in the U.S. as it is here, then there are tax credits for tax paid overseas back in Oz

]]> b82ee56e2e6f3c4fa32cac603490fbf0 Portpirate replied to the topic USA Landlord Experiences so far. in the forum Overseas Deals https://www.propertyinvesting.com/topic/4403760-usa-landlord-experiences-so-far/#post-4648675 Thu, 02 Jun 2011 05:48:43 +0000 All good points except the double tax system.  Tax paid in the U.S. is offset against tax paid in Aus.

]]> b2bb0ab2a36713d4cde47d1f3659bbbb Portpirate replied to the topic USA Landlord Experiences so far. in the forum Overseas Deals https://www.propertyinvesting.com/topic/4403760-usa-landlord-experiences-so-far/#post-4648673 Thu, 02 Jun 2011 04:46:22 +0000 I meant to add.  this property was listed for sale through MLS for $20,000.

]]> 465585d05752a2e01cf9e3c208e3186b Portpirate replied to the topic USA Landlord Experiences so far. in the forum Overseas Deals https://www.propertyinvesting.com/topic/4403760-usa-landlord-experiences-so-far/#post-4648672 Thu, 02 Jun 2011 04:32:59 +0000 That previous post didnt come out quite as well as I thought but the gist of it was:Purchase price $39,000, Buying costs $8,300!!  This is for a tiny 3 bedroom, 1 bathroom shack in DetroitTaxes $2,300!Not much left out of $800 month rent.

]]> 62f16721ae8a05508eba22699db6af7e Portpirate replied to the topic USA Landlord Experiences so far. in the forum Overseas Deals https://www.propertyinvesting.com/topic/4403760-usa-landlord-experiences-so-far/#post-4648671 Thu, 02 Jun 2011 02:52:16 +0000 Not sure what anyone else thinks but below is typical of what I think is profiteering.  Take a look at the cost of the property and the buying costs.  Anyone agree? <!– Main Menu –> 8510 Troy, Oak Park, MI Total Cost of Ownership *: $47,300.00 Averaged Return per Year: 21 % Average Annual Rental Return: $6,274…[Read more]

]]> 4cdb35c9bd7e10da0a31b020768f408b Portpirate replied to the topic USA Landlord Experiences so far. in the forum Overseas Deals https://www.propertyinvesting.com/topic/4403760-usa-landlord-experiences-so-far/#post-4648668 Fri, 27 May 2011 04:57:43 +0000 I would be interested in this too.

]]> 7e97c8b003cd20e89d8851cf653fe5b3 Portpirate replied to the topic Atlanta, Georgia in the forum Overseas Deals https://www.propertyinvesting.com/topic/4403739-atlanta-georgia/#post-4648575 Fri, 27 May 2011 04:57:01 +0000 Yes, just makes you wonder what their property management would be like after you bought?  As Ive said, nice properties but…

]]> 197faa5c98c93666ccb7952fafb0c692 Portpirate replied to the topic Overseas mortgages in the forum Overseas Deals https://www.propertyinvesting.com/topic/4403753-overseas-mortgages/#post-4648632 Thu, 26 May 2011 23:06:11 +0000 I received this email from HSBC in response to an enquiry for finance.  It might be of interest to some people. Thank you for your interest in mortgage financing with HSBC Mortgage Corporation (USA). Premier HSBC customers that do not reside permanently in the US may purchase property within the continental US for their own personal use.…[Read more]

]]> 3c250b1e45dabce15905ed0cf0366e03 Portpirate replied to the topic Atlanta, Georgia in the forum Overseas Deals https://www.propertyinvesting.com/topic/4403739-atlanta-georgia/#post-4648573 Thu, 26 May 2011 03:16:08 +0000 Moggiee wrote:
Great thanks for your feedback! Looking forward to the trip. Can I ask how much you paid for your Atlanta property?Hi MFrom memory we paid $38k for one and $48k for the other.I agree with Postpirate that the main problem is securing the property… we tried to get several before we got ours.  You literally have to be at your…[Read more]

]]> df02da6323a5e23d05edf3d2a99281b4 Portpirate replied to the topic Atlanta, Georgia in the forum Overseas Deals https://www.propertyinvesting.com/topic/4403739-atlanta-georgia/#post-4648570 Wed, 25 May 2011 22:27:57 +0000 Trying to buy from Top Rental Returns is the hardest part.  No replies to emails or Skype.  They did call once using Voip I think but got cut off and didnt call back.  They have lovely properties but what has everone elses experience been?

]]> e5b641cd0ec56026cd7c03f8a80deb19 Portpirate replied to the topic Anyone bought Atlanta properties using Top Rental Returns? in the forum Overseas Deals https://www.propertyinvesting.com/topic/4400716-anyone-bought-atlanta-properties-using-top-rental-returns/page/2/#post-4628973 Thu, 19 May 2011 06:40:24 +0000 Hi Speedy Gonzales,yes, the one stop was the main reason.  And the properties they promote seem to be a bit better than some others.  I have also been talking to Housebuyersusa, Lux and a few others with varying degrees of communication.  I have emailed a few agents in the US but not much interest there.I see you are concentrating on DFW area, no…[Read more]

]]> 08fc413a99ed0d56e25a8d47f8246575 Portpirate replied to the topic Anyone bought Atlanta properties using Top Rental Returns? in the forum Overseas Deals https://www.propertyinvesting.com/topic/4400716-anyone-bought-atlanta-properties-using-top-rental-returns/page/2/#post-4628967 Fri, 13 May 2011 23:57:50 +0000 I have been trying to buy from Top rental returns USA for weeks. They say, skype, email or call.  Calling is not really an option because of the time difference, skype is not answered at all and emails, if you get a reply are so lat that the property is sold before you have a chance.  They have lovely properties for sale but the website photos a…[Read more]

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