Does anyone have any comments or information on a guy named john advertising himself as ‘Positive USA Properties’?????
Any info would be great
ThanksA last name may help a lot. There is not much on the internet about them that I have found with a quick search.
Robert Bou-Hamdan
Mortgage AdviserIs he from Sydney? I think I know who you are referring to. I’ve been trying to contact him for the past week. Still trying….
Regards,
OziAre they the people who advertise in the Trading Post?
Ozi..contact WESTAN if you are interested in the US
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorI’d be very careful. I know of one person advertising properties in the United States who is actually marking up the properties by around 300%.
As Redwing suggests, you should contact Westan if you are interested in the US.
Regards,
Cameron Perry
Accredited Mortgage Consultant
F.R. Perry & Associates
Ph (03) 9662 1999
Fax (03) 9662 2044thanks, yes he is from sydney advertising in the trading post, and we finally got onto him today.
im just curious because i haven’t found any positive properties in oz, and his ad just jumped out at me with the cheap prices and high returns. one of his ads said
“duplex, full price $39980 AUD, fully tenanted at $735 per month or $170 per week income…”
thats hard to ignore!!!!
i have done a google search for westan. im getting computers, software, leather…and westanjohnson who contributes to these forums. must be good if you guys are recommending him…did you go ahead with any???
thanks heaps
anthonyredwing,
Yeah, I’ve known Westan for a while and know about his US operation well. The reason for contacting this guy in Sydney was purely out of curiosity, just to see what he was offering.
Regards,
OziBe VERY VERY careful in dealing with people advertising US properties in AUD. My brother discovered one such spruiker advertising properties for around $A48,000 and found the exact same property advertised on a US real estate site for $US13,000, or around $A17,000. The yields sound good on the surface but you would be buying at close to 300% above market value!! If you are looking to buy in the US either make sure you do a mountain of research or speak to someone trustworthy such as Westan. I know for a fact a number of people have purchased property of him and he is very reliable. I believe Mic and Debbie at Hunter House Hunters are also sourcing properties over there and would be a reliable point of contact.
hey_ang
I rang this guy John, he emailed me his info, package and then sent me some of the properties I could buy in the USA, when I did the figures they were not + cashflow and when I asked could I view the houses I never got a reply, I think that says it all.
Teach
Just about to get into P/I in a large way with an aim to early retirement and having fun along the way.
Hi chrisholt452,
I got the same impression from this John guy. He pretty much said when you want to buy, we’ll arrange a meeting, I select a property, then he will then me everything and it will all fall into place… but he won’t tell me anything before then… Ummmm yeah no worries!
Regards,
OziI know who he is through a colleague of mine and he is more hard salesman than US property expert. He is a real estate agent in Sydney. I don’t think his knowledge of US property is very good.
I am interested to know a few things:
1. Can Aussies actually buy and own US property?
2. Do you get taxed in the US on any positive returns?
3. How much tax is charged on funds making it back to Aus?Robert Bou-Hamdan
Mortgage AdviserRobert,
To answer your questions:
1. Yes
2. You can either get taxed in the US or Australia on your returns, but it makes sense to be taxed generally in the US due to their lower rates.
3. None if you pay US tax.I suggest you contact Active Financial http://www.activefa.com if you want to find out more about the tax ramifications of investing in the US as they specialise in this area.
Hope this helps.
Cheers,
Cameron Perry
Accredited Mortgage Consultant
F.R. Perry & Associates
Level 13, 30 Collins St
Melbourne VIC 3000
Ph (03) 9662 1999
Fax (03) 9662 2044This really interests me. Don’t they have any controls on what types of property can be purchased by non-residents?
Youn can buy some really cheap positive geared properties in the US so I thought they would be inundated by International Investors.
Surely this must be a problem for the US economy over the long-term especially if you do not have to be taxed there???
Robert Bou-Hamdan
Mortgage AdviserRobert,
How can encouraging international investment have negative effects on the US economy?
Regards,
Cameron Perry
Accredited Mortgage Consultant
F.R. Perry & Associates
Level 13, 30 Collins St
Melbourne VIC 3000
Ph (03) 9662 1999
Fax (03) 9662 2044I think my earlier post answers your question already.
Robert Bou-Hamdan
Mortgage AdviserRobert,
I don’t think you did answer the question. To further elaborate, it is only investors from “broad tax countries” ie) Australia, Canada, UK, maybe 1 or 2 others, who are able to be taxed in their own country and all of these countries have higher income tax rates than the US so most investors would pay their tax in the US. In any case even if they are not taxed on their income, international investors putting their money in US property means more money being put into the US economy. I fail to see how this can be a bad thing for them!!!
Regards,
Cameron Perry
Accredited Mortgage Consultant
F.R. Perry & Associates
Level 13, 30 Collins St
Melbourne VIC 3000
Ph (03) 9662 1999
Fax (03) 9662 2044See what I mean??? I did answer.
I thought the issue of money being taxed in other countries could be a problem and the fact of foreign ownership of land. Also, prices being driven up through demand would make purchasing property more difficult for US residents.
Finally, (initial capital injection aside as it will be taken back later in addition to capital gains) regardless of where the rental income is taxed, the money that is left will be taken out of the US. This reduces the Domestic circular flow of funds and is a bad thing for the overall economy in my opinion.
Robert Bou-Hamdan
Mortgage Adviser“Finally, (initial capital injection aside as it will be taken back later in addition to capital gains) regardless of where the rental income is taxed, the money that is left will be taken out of the US. This reduces the Domestic circular flow of funds and is a bad thing for the overall economy in my opinion.”
If foreign investment is bad for an economy, why do so many governments promote it? What you have stated is the case whether its is resedential property, commercial property or businesses that are being invested in.
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