USA investor from Melbourne

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

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) 

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.

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.

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

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

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.

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.

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