Hi, figured I’d get my first post over with. My name is Chris and I live with my wife in California. The wedding and car will be paid off in Feb, so the next question is how can we invest from the U.S? We’re VERY interested in positive gearing. The problem lies in finding opportunities from the wrong side of the Pacific (yes our toilets do flush anticlockwise courtesy of the Coriolis Effect). Is it reasonable to even consider finding positively geared properties with this significant disadvantage? We do have family in Brisbane and Darwin to do some leg-work, but wouldn’t want to ask too much of them. Has anyone else managed to invest from abroad? Have many of you found +ve geared properties in these cities? Finally, nice to meet you all
Please at least respond with a “Hi”, I want to feel loved Chris, if I was you, Id look seriously over there for positive cashflow.
Unfortunately my visa all but rules this out and there is a plethora of other reasons. It’s Australian property or no property.[
]Edited by – [email protected] on 19/01/2003 11:13:18 AM
My understanding is that anyone of any nationality or citizenship can buy property in the US under a Las Vegas registered company. I don’t know the full story, but Sage International (www.sageintl.com) may be able to help with setting this sort of thing up – I’ve heard about them on some tapes previously.
Regards,
Marcus.Thanks for the reply, but I really don’t want to invest in the U.S. My wife and I will only be here for a few more years and don’t want the complexity of managing U.S. investments from Australia long-term. Also, our buying power is far less over here, this in turn cuts our ability to manage risk across multiple properties. We really want to know if finding and investing in +vely geared property from another country is possible and any tips on doing so.
Thanks
Hi,
You say you are going to return to Aus in the next few years.
Why not just hang fire, save like crazy while you are in the US, invest what you save in something that will keep up with inflation – then when you return to good old Australia, you should have plenty to keep you going, and hit the ground running.I guess it depends how you want to work it.
Tim Wilson.
“Poverty is not an option”
Just had another thought – and probably a better one –
You could always do a joint venture with someone who operates in Australia while you are in the US – become a money partner- i.e you provide the finance, they do the leg work. And you split the profit. Work it how you want but it could be an option, if you wanted to get started straight away.
Obviously it would be important to find the right person to do it with!So if you are interested in doing this, let me know as I might be able to help. [email protected]
Regards,
Tim Wilson.
“Poverty is not an option”
Edited by – [email protected] on 20/01/2003 09:34:36 AM
Thanks for the input Tim. My wife and I are still considering partnerships, but they do add further complications. I think we’d prefer other options. But thanks again.
Hi Chris,
Thanks for your post and welcome to the community… all the way across the pond in the States!
Brent from ny office has done some research on your behalf on the topic of foreign investment in Australia.
We are building some web pages to discuss this, but in the meantime you might like to read:
http://www.firb.gov.au/policy_pubs/download/urbanpolicy.pdf
Good luck! I’d probably look at the JV option for old / established property… but do you due diligence on the investor carefully.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
G’day Superman,
You could try some or all of the following websites…
http://www.realestate.com.au
http://www.realestateview.com.au
http://www.domain.com.au
http://www.property.com.auThese will certainly get you started. I hope this helps…..
BDM
Hi
Good to see you wanting to get into the game.
We are already well down the road with international investors (JV or money partners) as we have a business associate in the USA who wanted to invest with us here. We asked our accountant and solicitor, and this is how we are handling it…
We found it well-nigh impossible to find a US lender who would lend our Joint Venturer (in Oregon USA) money on an Aussie property. And we could not locate an Australian lender who would lend money to a US purchaser, no matter how well his credit stacked up.
So we have created an Australian Pty Ltd company which is owned 50/50 by our trust and the JV partner. I am sole director. The Australian-registered company can borrow money from an Aussie lender on Aussie properties. The title is in the name of the company and the company is responsible for the repayments. The JV partner owns half the company, so he owns half the houses. However, he puts up all the cash to create a deal (deposit and closing costs). This is as it should be, as we not only do all the work, but our credit is on the line…we are responsible for the loan repayments. Profits/losses are split 50/50, starting from occupation day of a wrap property.
We have another international investor that we are about to start working with. He has just received his 401k, and is a close friend of the first one.
In his case, we are going to use his funds for the deposit and closing costs, and pay him a flat 10% interest-only per month. He gets a 2nd mortgage to secure his loan.If anyone has found better ways to do this, I am all ears!
Best wishes to all the Propertyinvesting.com readers,
Lance
.
Fair Go Homes
http://fairgohomes.com.auRapt with Wrapping!
(07) 5465 4999
[email protected]Hi Chris,
I understand your situation as I’m based in Japan and have bought a few properties whilst O/S. One of the biggest hassles is that some of the documents that you need to sign may need to be witness by another Australian or a consulate or embassy member. An easy way around this is to give power of attorney to someone but only in the specific area of signing certain contracts. I have given certain powers to my Bank manager and conveyancer to handle on my behalf. The most important part is too ensure that you have the complete trust of who ever you give power too and that power is stated explicitedly. P.s where in Cal are you? I lived in Covina, West hollywood and San diego for a little while, not too mention NY, but thats another story. Also if your income is in USD you can lose a fair bit of money on international transfers. What I do which may be of interest is to buy gold *certificates* which you can sell at the Perth mint without losing on the currency exchange. There should be someone in the U.S who can advise you better onhow to do this. Finally if you can’t come back to look at the properties (it is a tax deduction) you want to buy then find someone who can video and down load any properties your interested in.
An added note too some of the people who have contacted me previously, your not forgotten. I’ve just started another business over here and have been working 24/24 so no time to reply, sorry.C
Please at least respond with a “Hi”, I want to feel loved 
]
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