Hi all,
I’ve been spending some time researching investing in the US and would be keen to get feedback from others in Oz that have investment properties over there.
My concerns are fairly obvious… buying a property in an average neighbourhood with a bad tenant and a property manager that does a poor job. I’m stating the obvious (probably watched too many late night episodes of ‘cops’!!)
If I could get some feedback on:
1) Which areas/states people have invested in
2) What their mistakes have been
3) Property managers / buying agents usedI’d be very grateful.
Look forward to hearing from you.
Regards,
Andrew.Westan (on this forum) is doing and finding deals over there and seems to be doing quite well from it. He’s your first port of call for info on the US.
Good Luck…G7
Hi Andrew
There is no doubt the US has so many great +V CF opportunities. The same fundamentals that apply here apply there.
However, there are many more issues to deal with than investing here or in the 7th State (NZ). Things like getting you team right. For us the PM has been a challenge. We met with a number of recommended PM’s and none seemed to suit. None were aware of the withholding tax issues on rent for non resident aliens. Reasonable upfront cost on financing has and will be a continuing challenge. The call I had from the ATO last week asking me to explain our USD transfers from Aust to the US added an unexpected twist as well (seems the ATO are flagging property investors on AUSTRAC – talk about real time auditing, so get your structure right)
Check the “buying in the US” thread on somersoft. There are a few red herrings in it but on the whole this is a great start to know what your could be getting yourself into.
Regards
Tony
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