Total Members: 158,199

quickchick

  • Sure, Jay. We'd like to hear your thoughts!The only thing I can think of, if stuck with a property that is not delivering, and does not seem to have any solutions, is to sell.If anyone wants to buy it!

  • quickchick replied to the topic SHOOT ME with your opinions and thoughts!! in the forum Hi 12 years, 3 months ago

    Hi Michael,I'm not against investing in the USA!I invest there myself.BUT if you are not very well informed of the costs, risks etc, you stand to lose your parents house for them, as they get ready to retire. Have you even considered what happens if the AUD/USD exchange rate moves against you? Do you know what your accounting costs will be in U…[Read more]

  • quickchick replied to the topic Pay off mortgage or buy investment property? in the forum Great.One thing is for sure, 12 years, 3 months ago

    Great.One thing is for sure, if you work out a good plan now and stick with it, you will set yourselves up for a good future financially.A lot of people are not thinking of the long term outcomes at this stage in their lives.Well done!

  • quickchick replied to the topic Investment Courses in the forum Help Needed! 12 years, 3 months ago

    The Results course is not Steve's course, and is not covered by any government subsidies (I'm pretty sure.)Its a great way to build up your knowledge.If you have enough of a deposit to act on the knowledge you gather, (ie buy a property) it would be a great idea.If you don't have any equity or a deposit for investing, maybe start saving in…[Read more]

  • quickchick replied to the topic Pay off mortgage or buy investment property? in the forum Help Needed! 12 years, 3 months ago

    It sounds like your plan involves having you and your wife working full time all the time your kids are little, plus working overtime yourself also. Kids are an expensive item, both financially and hopefully you will also want to invest a lot of time in them…Time with your family will be the most rewarding investment of your l…[Read more]

  • quickchick replied to the topic Investment Courses in the forum Help Needed! 12 years, 3 months ago

    Go to the top of the page, click on "contact us" and ask.

  • quickchick replied to the topic Tax Question on US Investments in the forum Overseas Deals 12 years, 3 months ago

    Hi Frank,I don't know all the answers to your questions but I'm aware that tax expenses in the USA can be carried forward for many years…20 years? So you'll have plenty of time to use those deductions.I think your Aus accountant is right, you can't claim overseas investing expenses against your Aus earnings.In Aus if you negatively gear as you…[Read more]

  • quickchick replied to the topic Buying in the US – To use a Aussie Buying Agent or DIY? in the forum Overseas Deals 12 years, 3 months ago

    AussieMika,I have a few remarks which may be of help to you.If you have a LLC set up interstate from where you are investing, you should register for business in that state. Which involves an annual fee, and a registered agent who can provide you with an address in that state.Having done it the other way around, I recommend you have your LLC set…[Read more]

  • quickchick replied to the topic Answers to “Where to Find CF+ Deals” in the forum In my opinion, there is not 12 years, 3 months ago

    In my opinion, there is not a clear correlation between purchase price and rental return generally. (Residential).As discussed, this can be different with blocks of units. But I'm talking about houses/units here.And I'm not talking about specialised areas eg mining towns. where there is a definite correlation between rents and purchase…[Read more]

  • quickchick replied to the topic Usa property contacts in the forum Overseas Deals 12 years, 5 months ago

    Hi Jay,I read your comments with interest. (Thanks.)Aussie new homes tend to be not much more than similar local properties – only 5-10% more, if that.Locally to us (outer SW Sydney) there is a lot of development, generally single family homes on smaller blocks, which are selling for about the same price as other new-ish homes. There is not a lot…[Read more]

  • quickchick replied to the topic Usa property contacts in the forum Overseas Deals 12 years, 5 months ago

    I do not claim to be an expert on land values in any area of USA.I would make the observation, as an Aussie investor, that to buy land only, even at bargain rates, is pure speculation.If you can afford to buy and hold land (and pay taxes on it ) for a very long time in the hope that one day you will make a capital gain, then by all means go a…[Read more]

  • quickchick replied to the topic Usa property contacts in the forum Overseas Deals 12 years, 6 months ago

    A few thoughts after reading the post…If you want to buy US property, get Steve McKnight's US Property Power Pack. Lots of education, much cheaper than learning the hard way..Decide before you set up a US structure (eg LLC) where you want to buy. Then set up your structure in the same state.And avoid costs of registering to run a business in…[Read more]

  • quickchick replied to the topic The value of selling with a DA/Town Planning permit? in the forum Value Adding 12 years, 6 months ago

    Hi Merf,Maybe the next step is to go back to the agents and ask if they have any recent sales of properties with DA's approved.Then do your sums carefully!Lots of questions arise. (Which you may have considered.)Will council allow 2 townhouses on this size block? (Read their Development Plan and discuss with Town planner.) If their DP plan says…[Read more]

  • quickchick replied to the topic Help with ITIN application in the forum Overseas Deals 12 years, 6 months ago

    I believe that if you have a LLC set up, you can enquire online with the IRS about applying for an ITIN so you can pay tax.Or call with the same question, how do I apply for an ITIN so I can pay tax on my LLC income.A LLC is a bit like a Family Trust, in that it is a "pass through" entity.ie you don't pay tax from your LLC directly, but the b…[Read more]

  • quickchick replied to the topic International money transfer issues! in the forum Overseas Deals 12 years, 6 months ago

    You can send money direct into escrow via OzForex.We have used OzForex quite a few times and have never had a problem at all.I would allow 3 days to be sure to have it there for settlement.

  • quickchick replied to the topic Foreign Income, Expense in Australian Tax ? in the forum Overseas Deals 12 years, 6 months ago

    PropertInvestor,I think you are more or less right.As US investors, we still may have to pay tax in Aus on our US income.However, because we can get tax credits for tax paid in USA, it seems logical that US income has to go thru the IRS before we declare it to ATO.In my perception, we can't claim US expenses against Aus income, only against US…[Read more]

  • quickchick replied to the topic U.S. Bank Accts…..Help in the forum Overseas Deals 12 years, 6 months ago

    Jamie,In regards to which bank to use…Be aware that most banks do not operate in every state of USA.Also, the way we do online banking in Aus to transfer money from one bank to another, does not work in USA.ie Seriously, they sent a written cheque in the mail, from one bank to another bank to transfer money.And it took over a week!So first,…[Read more]

  • quickchick replied to the topic Bowen Basin QLD Mining Towns – Opinion on offer in the forum Hi Ant 45,
    Our valuation
    12 years, 8 months ago

    Hi Ant 45,Our valuation done last week in Dysart came in as we expected, we were happy with it.Had emphasised rent return and that it was furnished. As for condev, I'm in USA too, but would be surprised if your 30% is after costs… the profit you end up with is what you have to count.

  • I would not buy a negatively geared property, so that's my bias.The strategy is commonly known as "buy and hope".With the current economic climate, Aussie's not wanting to spend much (see recent retail plunges in sales), the general trend to saving more, I don't know that we have a huge prospect of capital gain per year.I am not pessimistic about…[Read more]

  • Whoa, my first effort at quoting and it didn't go as planned!Sorry.PaulandJo, I think you need to be sure on what your main priority is for having investment properties.We would all say, wealth creation, but from what you have said, maybe tax minimisation and retaining your family benefts are higher priorities? Tax minimisation is fine, but should…[Read more]

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