All Topics / Overseas Deals / USA investor from Melbourne

Viewing 20 posts - 21 through 40 (of 42 total)
  • Profile photo of itsandrewitsandrew
    Participant
    @itsandrew
    Join Date: 2007
    Post Count: 294

    Hi Giacomo,

    Have to say that I agree with reme.  You need to speak to people who aren't trying to sell you something as a part of your DD.  Its all part of the process.  And like you acknowledge there's nothing wrong in paying fees for a service.  Just don't be pressured by people who want you to take the plunge prematurely.  The US market isn't going anywhere fast.  You can afford to take your time.

    Andrew

    itsandrew

    Go as far as you can see and you will see further.

    Profile photo of GiacomoAGiacomoA
    Member
    @giacomoa
    Join Date: 2010
    Post Count: 7

    Thanks Rame and Andrew for your comments and encouragement.

    Giacomo

    Profile photo of storrmastorrma
    Member
    @storrma
    Join Date: 2008
    Post Count: 2

    Hi
    Im keen on US property as well  .Im off to "myusaproperty" meeting  on Monday for a bit of fact finding
    Id be keen to chat with other like minded investors im in Ivanhoe Melb (not far from hawthorn) 

    Profile photo of copeycopey
    Participant
    @copey
    Join Date: 2007
    Post Count: 1

    Be very careful who you deal with over there, do your DD on the property and the people your dealing with. I did a JV with a developer over there about 4 years ago, in San Antonio, been an absolute nightmare. If anyone want to know who not to deal with PM me.

    Profile photo of Nigel KibelNigel Kibel
    Participant
    @nigel-kibel
    Join Date: 2005
    Post Count: 1,425

    The market is a mine field. The problem is that without the right contacts it is very easy to loose money. I accept that people should do there own due diligence in fact I teach people to do it. However if you deal with me and save time and money then its worth at least talking to me. I post here to be involved I do not need clients from this forum. However there are a lot of people who are running risky strategies.

    Nigel Kibel | Property Know How
    http://propertyknowhow.com.au
    Email Me | Phone Me

    We have just launched a new website join our membership today

    Profile photo of storrmastorrma
    Member
    @storrma
    Join Date: 2008
    Post Count: 2

    Thanks Copey
    How do i contact you???

    Profile photo of EdmundStEdmundSt
    Participant
    @edmundst
    Join Date: 2010
    Post Count: 28
    storrma wrote:
    Hi
    Im keen on US property as well  .Im off to "myusaproperty" meeting  on Monday for a bit of fact finding
    Id be keen to chat with other like minded investors im in Ivanhoe Melb (not far from hawthorn) 

    How did you meeting go? What are your thoughts on myusaproperty?

    Profile photo of sapphire101sapphire101
    Participant
    @sapphire101
    Join Date: 2006
    Post Count: 203

    There is a link to discussions about MYUSA Property here :  https://www.propertyinvesting.com/forums/property-investing/help-needed/4322475 

    Ian
    http://www.theblockblog.com
    Free Property Info For Investors with A Sense of Humour

    Profile photo of sapphire101sapphire101
    Participant
    @sapphire101
    Join Date: 2006
    Post Count: 203

    Does anyone know about investing in Memphis Tennessee? I have heard that a local outfit there is offering 50% finance, no questions asked on all property purchases. Most houses are going to investors there for around the $40k mark.

    Ian
    http://www.theblockblog.com
    Free Property Info, Tools and Resources for Investors with a Sense of Humour.

    Profile photo of MakingTheJumpMakingTheJump
    Member
    @makingthejump
    Join Date: 2010
    Post Count: 7

    I'm happy to help. Recently invested in a property in the US, so I'm an unbiased opinion and not trying to sell anything. To repeat the other posters, you can do it!

    Profile photo of streamlineinvestingstreamlineinvesting
    Participant
    @streamlineinvesting
    Join Date: 2010
    Post Count: 171
    MakingTheJump wrote:
    I'm happy to help. Recently invested in a property in the US, so I'm an unbiased opinion and not trying to sell anything. To repeat the other posters, you can do it!

    Would you be able to email me, I would just like to hear about your experiences and make sure I have a full understanding of the process of getting a US Property. I think I know as much as I need to know about getting one, but just would like to make sure and ensure there are no little things that come up unexpected. Thanks in advance

    Profile photo of Treasure HunterTreasure Hunter
    Participant
    @treasure-hunter
    Join Date: 2010
    Post Count: 47
    streamlineinvesting wrote:
    MakingTheJump wrote:
    I'm happy to help. Recently invested in a property in the US, so I'm an unbiased opinion and not trying to sell anything. To repeat the other posters, you can do it!

    Would you be able to email me, I would just like to hear about your experiences and make sure I have a full understanding of the process of getting a US Property. I think I know as much as I need to know about getting one, but just would like to make sure and ensure there are no little things that come up unexpected. Thanks in advance

    MakingTheJump,

    As with StreamlineInvesting, I think I have enough info to get started, but would appreciate hearing your story to use as a checklist in case I am overlooking anything obvious and/or important.

    Please PM me if you don’t post it on this forum.

    Profile photo of GiacomoAGiacomoA
    Member
    @giacomoa
    Join Date: 2010
    Post Count: 7
    MakingTheJump wrote:
    I'm happy to help. Recently invested in a property in the US, so I'm an unbiased opinion and not trying to sell anything. To repeat the other posters, you can do it!

    I do believe you can do it, but I would really love to hear from someone that has actually done it.  Let us know how you went about it.

    Thanks,

    Giacomo

    Profile photo of SavSav
    Participant
    @sav
    Join Date: 2008
    Post Count: 32
    Nigel Kibel wrote:
    Happy to meet up with anyone in Melbourne to discuss my experiences over the last 5 years.

    Hi Nigel i am based in Melbourne just past the west gate bridge 10 mins from the city and would like to meet up to discuss about investing in the USA. I've already set up an LLC with a bank account with wachovia bank. I've purchased one property just last week in toledo ohio throught myUSAproperty company for 25k cash and renting out for $550 p/m. I have 40k left in the bank and not sure what to do next haha. Im interested in the stradegy that you are doing in Texas and would to have a chat if you are free too. =) thank you

    Jayman
    Participant
    @jayman
    Join Date: 2005
    Post Count: 63

    Reading some of your posts, I thought to throw in my two cents worth.

    Yes there is one of the best US Registered Tax agents in Melbourne ( From the U.S. and over 20 years working with property investors both in the U.S. and now over here as well ), and the difference is that a CPA is normally registered on a State Level, whereas the Tag Agent is on a Federal Level and has direct access to the IRA, therefore, can help you in every U.S. State. And the fees are VERY reasonable.

    Also, there is still so much confusion as to where to buy, what to buy, how much to spend and even which method of purchasing is suitable for you,  as you can buy through a Land Trust, Direct Cash Purchase, Lease Purchase, Even through Tax Sales, etc. are you buying for pure high rental yield with high cash flow from day one, or for longer term growth? As where and what you buy will determine this. Do you also want to get involved in renovating it, finding an excellent tenant and property management? Or pay a reasonable service fee to have all this done for you so it becomes an armchair investment process?

    Yes you can and certainly should go over to check it out, the thing is though, how long do you have on your trip? Where do you go? California-Florida-Texas-Ohio-Missouri-Tennessee? Or other States? All great places, so will you be able to go to each one and spend time and money to do all the research? Which cities / suburbs would you go to?

    Opening a Bank Account in the U.S. can be done in 72 hours from over here, and your tax file number and LLC, is also easy to open and not expensive to do, also from over here. Again, Most local accountants don't have this knowledge, so you have to make sure you get the right advice and help from the start,

    I hope this has been of some help, and one last thought. If you can meet and discuss in person with a major U.S. Turnkey Property Company, so you can judge in person ask questions and do your DD at the same time, would you be more comfortable knowing who your dealing with? very important.

    If you want any help on the above points, let me know. or you can email on [email protected].

    Jeff.

    Profile photo of Leonard11Leonard11
    Member
    @leonard11
    Join Date: 2011
    Post Count: 10

    itsandrew Hi

    You are right buy when you are ready . And remember if you are in the market for an investment in America GOOD PROPERTY that can be researched in your own time GETS BOUGHT NOT SOLD .

    If you are been pressured you are been conned <moderator: delete advertising>

    Regards

    Leonard Wilton American Properties (02 ) 94390037 Web . http://www.americanproperties.com.au

    Profile photo of The ImmigrantThe Immigrant
    Member
    @the-immigrant
    Join Date: 2008
    Post Count: 73

    Hi. I am in the process of researching on how to invest in US property. I would appreciate if someone who has gone through the process and actually done meet up with me and discuss. I am based here in Melbourne. Thanks.

    Profile photo of TreweyTrewey
    Member
    @trewey
    Join Date: 2012
    Post Count: 6

    Hi all,
               Just found this thread. I am moving to Melbourne in July 2012, going to finish off uni at La Trobe in Bundoora. Do you all still live in Melbourne or has there been a mass exodus? haha

    It'd be great to meet up with like wise people, I'm only just getting onto this path, no ITIN, no LLC or anything yet.

    Matthew

    Profile photo of Alex SCAlex SC
    Participant
    @alex-sc
    Join Date: 2011
    Post Count: 585
    Trewey wrote:
    Hi all,
               Just found this thread. I am moving to Melbourne in July 2012, going to finish off uni at La Trobe in Bundoora. Do you all still live in Melbourne or has there been a mass exodus? haha

    It'd be great to meet up with like wise people, I'm only just getting onto this path, no ITIN, no LLC or anything yet.

    Matthew

    just Google real estate groups in the areas you are looking for. Seems their should be plenty of local real estate investment groups in most of the major cities

    Profile photo of TreweyTrewey
    Member
    @trewey
    Join Date: 2012
    Post Count: 6
    Alex SC wrote:
    Trewey wrote:
    Hi all,
               Just found this thread. I am moving to Melbourne in July 2012, going to finish off uni at La Trobe in Bundoora. Do you all still live in Melbourne or has there been a mass exodus? haha

    It'd be great to meet up with like wise people, I'm only just getting onto this path, no ITIN, no LLC or anything yet.

    Matthew

    just Google real estate groups in the areas you are looking for. Seems their should be plenty of local real estate investment groups in most of the major cities

    Was mostly looking for coffee with like minded people, already have a place to live down there and have a mass of information to use just have not got further than that yet, as I said I am still early on in the process, researching a lot.

    Cheers

Viewing 20 posts - 21 through 40 (of 42 total)

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