Hi guys,
I Just wanted to put it out there that ill be heading over to the US on Monday for 9 days. Ill spend the first 4 days in Atlanta, where I already have a couple of properties, and then a few days will be spent in Florida, to look at other potential areas of interest.
The main reasons Ill be going over are to:
– First and foremost, to explore any possible avenues of attaining finance for future property purchases.
– Show my face to everyone already involved in managing my properties and go through any challenges with them.
– Sort out my US banking, which has been a bit of a nightmare (wells fargo). I haven’t been able to transfer money, or pay bills when needed, and will need to get this sorted out face to face.
– Look for any new potential deals and suburbs that I would like to purchase property.
– Lastly, to have a lovely tax deductable working holiday.
If anyone would like to contact me for whatever reason to share ideas and information, please do so! Perhaps you also have properties over there, or are interested in getting some. Also, If anyone has any information at all regarding possible local finance over there, or helpful contacts in ANY area of property investing in the US, perhaps we could use this post to collaborate and share information.
Wish me luck, and speak soon!
Brodie
Good luck Brodie,
I've been mainly doing investing in Australia, not so much in the way of investing in USA.
Just curious, what documentation/prrof do you need to ensure that the trip is tax deductible? Also, what parts of the trip can be deductible?
Hi everyone
I am also looking for information regarding purchasing in Florida -If anyone can advise re purchasing in a LLC as opposed to personal names or regarding finance it would be greatly appreciated
Cheers
Mary
Mattsa,
i would assume receipts are all thats needed seeing as i already own property there. The whole trip should be deductible as its the sole reason im going to the US.
Awesome, best of luck! No emotional decisions, now! Keep your business hat on. It's all about the numbers!
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
BMH, good luck. Ive been trying over years to solve the problems you have given 9 days to. You might be lucky:)
Give Karina a ring. I think she's back in Atlanta now. She's a wealth of information and is buying heaps in Atlanta.
Karina Perez Ronderos
Select American Homes LLC
Phone +61 412 900 111
haha thanks Tash72, yeah, so have I, but i guess it cant hurt to get over there once in a while to be updated….
BTW: Beware of wholesalers/flippers (especially when they are based in Australia like SAH) you may do OK, but you can guarantee they will do OK before anyone they flip to – and that is forgetting any management issue that might arise when they are long gone (ie the day after you hand over the cash).
Do it yourself, in the long run middlemen are expensive. And as far as sub prime goes (and I have said this previously) it is over. These sales pitches are at least 12 months old. Think carefully about what 'sub prime' means. As I read the tea leaves, right now you are buying 'subprime' properties at 'prime' prices. Especially in GA and FL. If you are paying 'prime' prices, you may as well buy in Manhattan or Malibu – there you will have near zero risk.
BMH & Mary,
<moderator: delete advertising> My suggestion is looking in the SW Florida areas at the moment. Employment has made the biggest gain from a percentage standpoint out of anywhere else in the country, which is resulting in a legitimate housing recovery. The best pricepoints to target ar $90,000 to $125,000. If you are looking for $50k and cheaper, that's not going to be my expertise. I have no interest in war zones.
Please let me know if I can help.
CheevesFinancial | Cushman & Wakefield - Commercial Property SW FL
http://www.CommercialRealEstateVoice.com
Email Me | Phone MeBMH and Mary, if you are interested investing in Florida, I would highly recommend Judith Ottosen (an Australian), a licensed realtor and property manager based in Fort Myers.
Here are her details:
Judith L Ottosen
Tall Poppy Real Estate, LLC
http://www.tallpoppyrealestate.com
All the best
Thank you for the tip – I will contact her – Cheers Mary
BMH & Mary I'm available to answer your Q's in Miami if you happen to swing by. I'm an investor/licensed real estate agent with local networks from Miami to Palm Beach Counties. Please bring some Vegemite! : P
Brodie
Let us know what do you think of Atlanta, I am looking to buy there.
What areas in Atlanta you will be visiting, and what kind of property/price you are looking for.
All the best
tash72 wrote:BTW: Beware of wholesalers/flippers (especially when they are based in Australia like SAH) you may do OK, but you can guarantee they will do OK before anyone they flip to – and that is forgetting any management issue that might arise when they are long gone (ie the day after you hand over the cash).Do it yourself, in the long run middlemen are expensive. And as far as sub prime goes (and I have said this previously) it is over. These sales pitches are at least 12 months old. Think carefully about what 'sub prime' means. As I read the tea leaves, right now you are buying 'subprime' properties at 'prime' prices. Especially in GA and FL. If you are paying 'prime' prices, you may as well buy in Manhattan or Malibu – there you will have near zero risk.
Select American Homes do not flip properties. They are also not Australian based. Please get your information correct before defaming companies. When I said Karina is back in Atlanta now was because she was just here last month for the property expo.
…..thats right, I forgot to mention to have a chat to Tripti Zehd in Miami. She is very helpful.
Thanks guys!
very helpful with the contacts, much appreciated.
First day in Atlanta right now, and about to head off to wells fargo…..
speak soon.
I thought Karina was a resident Australian buying and rehabbing in the states.
To buy one of those properties you need to purchase the LLC that purchased the property.
Please correct me if I have misunderstood the process.
If that,s correct isn,t that close to a flipped property.
Karina does source great properties it,s just the rehab is fairly pricey.
Florida's a big state, would take a month to cover al the area's with good properties for sale
Kyler,
how is your wholesale market there in KC… you getting the intense competition,, say an Atlanta market.
wholesale prices have risen 20 to 50% across the board in Atlanta in the last 4 months.
I knew it could not stay that low for much longer… Of course you can still buy Ghetto Atlanta for cheap and the older houses.
thanks
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