for sure thanks…
MY grandfather was born in NYC I have family there but that doesn’t help so sad..kylermrice wrote:I'll take LA and Miami over New York. No desire to touch Japan now with all that radiation fallout. I'm sorry, but they always dumb down how bad it is. My fiances brother had to have tumors removed from his leg when they lived in Germany and they suspect it was from ChernobylWell being born and Raised in NY .I have to say no place like it in the USA . As a kid my dad worked on Wall street so alot of weekend work for him.So my mom would let me and my 3 brothers just hop around the city. From China town to the seaport to little Italy. The big sail ships in the harbor ( my favorite) All the little areas of NY that are just awesome places to see.
Japan only got a glimpse of it ,as was layover for a few hrs. Great beer and sushi at the airport but love to spend a few days their.
Miami okay and LA I hate going to that city. Every time I go speak in LA, I stay in Anaheim or away from the City of LA ..
Last trip to NY a few months back . Finished my business their and had two days. Got to New York Yankees game eat a hot dog and pretzel in Time square. Not sure why but took a carriage ride around central park with a cup of coffee. Shut to China town and had nice dinner . So NY is always some thing to do .
Love NY …Full of life, day and night. Love the winter celebrations there; it's wonderful…
Alex, did you get my message?
Hi Debra,
We have E2 visas and are from Sydney, now in Phoenix AZ.
The E2 visa requirement is not just about you investing at least $100,000 in USA.
It is about having a company that will be viable and actually employs people (must be legal US residents other than you and your partner, if applicable. And also, about renting commercial space to run your business from.
They do not regard a house (or several houses) as irrevocable investment in USA, as houses can then be sold.
I'm not sure that you could do that on the basis of having 2 or 3 houses which you self manage. And paying a manager a full time wage to manage 3 houses would not be cost effective.They don't want to know that you can afford to provide for yourselves, and even make money for yourselves over here.
It's about providing employment, not just using subcontractors. (Which to a US person, means security of income, health insurance – which if someone loses a job, they generally lose their health insurance as they can't pay it themselves.)From one who's been through the system.
There will be a way you can go, but keep thinking….
Maybe an immigration attorney would be a good place to start if this is a "must" for you.
Immigration lawyers can tend to concentrate on one specific area, eg business visas.
It would be helpful to define how you want to pursue a visa, to get the expert help you need in this field.Kind regards,
Ruth
propertyinvesting.comAnother example: on of wife's very good friends purchased a property in Portland, Oregon together with her sister with the intention of opening a restaurant. Her part in the whole deal was $100k. She had a very good business plan and she got the E2 investor visa! But what happened after is ridiculous: they left the house unoccupied for almost 1 month after closing. When they finally wanted to start the reno job, it was impossible doe to some squatters who occupied the property. So, cops, lawyers, court, bailiff …the whole package… When finally they've got rid of the squatters decided that the restaurant will cost too much (in reno + appliances + furniture, etc.) and decided to rent the house to 2 guys. The result: now my wife's friend and her sister are in court in the US because the 2 dudes (see tenants…) were caught with having a grow-up in the basement…
This grow-up thing is HUGE here in BC, Canada. I have many friends-investors who were in a lot of trouble because of renting to some loosers…One of my clients lost a house in N. Portland to a grow operation…
I had the security interest on it and numerous other properties so even though that house was destroyed I came out OK..
Seems like their business plan was not thought threw well enough if the reno appliances and such all of a sudden became too much.
I assume she bought something that the zoning allowed such a use,,, Your bigger issues in Portland are other fee’s associated with the city.
Portland is a great food town, and a lot of start up resturants do well,,, however there is fierce competition from Food carts all around the city hard to compete when they are cooking out of trailer or RV and producing Gourmet food for hot dog stand prices… 7 bucks and under for full meals.
Squatters is a very big issue on the West coast especially California… You can get some one out of a house in portland in 45 days for 400 to 600 dollars as long as you do everything right… You do one part of the eviction wrong,, and the tenant will call for a trial.. And then you need an attorney blah blah balh, and the attorney the tenant gets will just plea bargin with you to pay a little less than what your attorney will cost.. Its a racket for sure…. Cash for Keys is the only way to go in a squatter situation..
There are people in CA that follow the foreclosure lists and move into a home wait for the person who bought it at the sale to show up… Demand 2k to move and off they go to the next one its a cottage industry there.. Temps are such that you do not need heat in SoCAL.
If you think about it tenants call and order utils.. so they are not in the landlords name…. Its an issue… Some Jurisdictions now requrie a copy of deed and notorized written permission to turn on utls if your not the owner. Of course Notary in the US is not Notary in CA or AU.
Lawsjs,
I think you can go to the american consulate in OZ and get docs notarized ?
Aside from the feelings of loathing towards the US that engenders in me (idiotic airport security pisses me off, more so just because I need someone to watch me sign a form!), this particular loan had to fund prior to Jan 1st when the US consulate had no notary bookings available until mid Jan. An anonomly, but annoying!
Also – some Notaries charge for each page and some loan docs need initialling on every page, THAT can add up!!!
kylermrice wrote:I'll take LA and Miami over New York. No desire to touch Japan now with all that radiation fallout. I'm sorry, but they always dumb down how bad it is.True, won’t live there myself till there’s more information available, and not the government issued bits. Fortunately from an investors perspective, though, the Japanese aren’t going anywhere (at least no where out of Japan)
Ziv Nakajima-Magen | Nippon Tradings International (NTI)
http://www.nippontradings.com
Email Me | Phone MeZiv Nakajima-Magen - Partner & Executive Manager, Asia-Pacific @ NTI - Japan Real-Estate Investment Property
jayhinrichs wrote:Lawsjs, I think you can go to the american consulate in OZ and get docs notarized ?Good one.. Ha, ha, ha
jayhinrichs wrote:Squatters is a very big issue on the West coast especially California… You can get some one out of a house in portland in 45 days for 400 to 600 dollars as long as you do everything right… You do one part of the eviction wrong,, and the tenant will call for a trial.. And then you need an attorney blah blah balh, and the attorney the tenant gets will just plea bargin with you to pay a little less than what your attorney will cost.. Its a racket for sure…. Cash for Keys is the only way to go in a squatter situation.. There are people in CA that follow the foreclosure lists and move into a home wait for the person who bought it at the sale to show up… Demand 2k to move and off they go to the next one its a cottage industry there..Exactly the same thing happens in Michigan (see Detroit). It happened to me once, I needed 1 month to take the squatter out and after that FULL RENO ! Before she moved, she called some friends and …no more electrical wires, no more bath tub, no more sinks, no more counter-tops, no more cabinets, dirt everywhere on the floor, and the list can go on. And I bought the house in "move in condition"! After I finished the reno I've sold it unoccupied for an easy $8000 profit. But with what headaches…
that's why it pays to fight fire with fire, lets just say i don't ask and my property manager doesn't say.
wow you guys surely are scaring me off this buy into the US idea, thats ok I think a business may be the way to go. We run 2 here and have a few ideas for a retail outlet we want to set up, I think we look at setting that up there perhaps? Any thoughts on setting up a business there, or is that a whole new thread..
From our experiences of selling US property while living in Aus,
A US notary is easily located by going to the website notarypublic.com.au
You just put in your location, and the closest notaries to you will come up.
Most notaries in Aus are solicitors.You do not need to go to a US Embassy.
But you will need to pay, $50-100 per document is standard.
A good question to ask, when you ring to make an appointment!Ruth
propertyinvestingusa.comFreckle: That makes Kyler the one in the dress – No wonder he gets picked on by tenants:)
BTW there is a very interesting Bloomberg article today suggesting housing has bottomed in th US – I can’t get the link right now, but it kind of backed up what Jay, Alex, Cheeves, Kyler the dress wearer and Emma have been saying.Debra, it’s not all scary. The nice parts are VERY nice, the scary parts are VERY scary. As I have said before, If you buy on 5th Ave, you will never have a tenant problem. I think being cautiously optimistic is how best to describe it, If anyone other than Kyler offers to sell you anything in a ‘Kyler area’ and they aren’t Kyler – run a mile:)
Mihovi: Just the impartial facts….
quickchick wrote:From our experiences of selling US property while living in Aus,A US notary is easily located by going to the website notarypublic.com.au
You just put in your location, and the closest notaries to you will come up.
Most notaries in Aus are solicitors.You do not need to go to a US Embassy.
But you will need to pay, $50-100 per document is standard.
A good question to ask, when you ring to make an appointment!Ruth
propertyinvestingusa.comRuth, it is a complex area. Aus notaries are a level way above US notaries, but it totally depends on the particular title office you use. At Law you are correct, however practically you are wrong. An Oz notary is a notary for life and must have an unblemished record practicing law for (I think) 25 years. A US notary is marginally less than a JP.
Jay wrote a great comment on this earlier which I promptly forgot, but at least explained the lunacy inherent in the system and why they need thumb prints etc etc.
At ‘law’ (and this is from my barrister who has full DFAT clearance and is legally endorsed to sign on behalf of the Aus govt) an Australian Notary ‘should’ be automatically recognised by all the old ‘Northern’ states in the US. The Southern ‘slave’ states do not. And yes it does go back that far – I read the reference in a great big book of his so it must be true:)
In the case I was referring to I was getting a loan payout on a refi and the bank was extremely picky. It was extremely annoying, but loaning money to a non resi alien less than 18 months after Lehmans collapsed, one can understand them being anal about paperwork. They simply insisted on their procedures being complied with – crazy or not. At least they gave me the money:)
BTW you do not need a social for a bank account (shouldn’t really need a bank account either but that’s another story) you just need an ITIN – which in the old days you got over the phone, once again, different now!
kylermrice wrote:that's why it pays to fight fire with fire, lets just say i don't ask and my property manager doesn't say.http://www.youtube.com/watch?v=uR5jufwSqm8&feature=youtube_gdata_player
I have removed several posts from this thread to keep it back on track. Some things that one group of people find funny others find hurtful. It is important that all users of the site are shown respect in regards to the material that is published.
I think we can do better at leaving a footprint on the forum that we can be respected for.
– Moderator
Thanks for the clarification of notary at point of law, lawsjs.
Complex!True, you don’t need a #SSN to open a US bank account.
But post what we Aussies called the GFC, I don’t know if any Aussie investor has borrowed from a US bank without a #SSN.So as a pre-GFC known borrower, you personally are still able to borrow in US (I presume) without current residency or #SSN.
I doubt if anyone has been able to start borrowing here post GFC as a new client, and a foreign non-resident without #SSN(?)
But would be interested to hear if that has been someone’s experience?Ruth
Propertyinvestingusa.com
Phoenix AZ
MY grandfather was born in NYC I have family there but that doesn’t help so sad..
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