As above….and in addition, be aware that she will essentially become a foreign currency trader when she has money tied up overseas. If she can get finance where she purchases (i.e.. USA), she can eliminate the currency fluctuation risk, provided she doesn’t transfer cash back to Aus unless the exchange rate works in her favour.

The US gig is…[Read more]

RJ Sanderson Associates.

They have branches across Melbourne. Been with them for over 15 years.

They specialise in investment property.

Homepage

Cheers.

Peter

Great to see Nigel and Richard still actively contributing. wtg guys!

What are the differences investing in NZ?

–There are several subtle differences. The main advantages are low entry costs (no stamp duty), low holding costs (no land tax), low exit costs (0% CGT if not trading properties).

Do properties have rates, water costs?

–Yes

what are the averages there?

–Depends on the area, similar to…[Read more]

I got messed around by a property management agency that tried to rip me off. They said work was done when it clearly had not. Trying to contact the manager was also quite difficult. In the end I drafted a letter of complaint to their professional association and faxed the draft to the PM agency. I stated that I would send the letter to the…[Read more]

Mark

Try talking to your attorney as they will have many investors on their own books that they can pass the details on, assuming of course that the deal is attractive to other investors. The attorney will get the business from the transfer of the title deed as their payment.

This has worked well for me in the past.

Be careful also that when you finance in a foreign country you are exposed to currency fluctuations. This can be a huge risk if you don’t know what you are doing!

Folks

I’ve been using HSBC for some 5 years now, without any hassles or complaints. I set this account up through a branch in Melbourne.

To get around the ‘check’ issue, my attorneys have a limited power of attorney to act on my behalf for Real Estate transactions and have banked checks on my behalf also. They both hold ‘operating funds’ in…[Read more]

Sorry can't help with the structure you are referring to.With flips, Cash is King.  Offer cash, quick settlement, receive a hefty discount.  You pay for perks and creative acquisitions.  Keep it simple.  Most properties I buy at 50c in the dollar, even before the crash.

Industrie Developments wrote:
AusinvestThanks Buddy – love to draw some info from you to seeming you have been doing it for a while mate.I have been chatting to Worldchanger for a while.Looking to do some flips myself – waiting up till 9am hits over there.Mate do you have any good buyers agents in Georgia – really need one??

Sorry, I just do WNY.

Oh, and I forgot to add, my property manager is semi-retired and looks after me exclusively.  She even has a very good and extremely well priced semi-retired builder that does my work exclusively for a very cheap rate.  She charges me by the hour, not a fixed percentage.I have a very creative attorney that makes the transactions seamless.  (My pre…[Read more]

World Changer wrote:
Hi guys,no prob at all email or pm me and if i can help i will.What i tell people is to definately be on the ground yr self and do yr own deals.Most of (around 90% )the buyers agents are still learning themselves and have no idea how hard it is managing from Oz (No dis respect meant)

Hi allIt's been a while since…[Read more]

pwinne wrote:
Hi aussie, email some pics and the rental details.Cheers

pwinneGo to the link below and it has the details and photos.  I'm throwing in the furniture also, if desired, as once I leave I won't be taking it back to my house in Melbourne.I live in the studio for one week out of four, when I'm on call in Gippsland, and as required,…[Read more]

How 'bout a studio apartment in Traralgon (currently owner occupied (me) and recently renovated by me).  I will also stay on and rent back for up to 12 months.Figures represent 5.9% gross yield but prepared to increase to 6+ for a quick sale.  Renovations will bring excellent deductions also.Everything under $80K.Traralgon is growing and is now…[Read more]

Smirg, read both books to get a better perspective.

SunnygirlYou are playing with another huge risk if financing from Australia.  You will be exposed to currency fluctuations that can cost you thousands and even 10s of thousands depending on how much invested.  In Australian terms also, the value of your portfolio and yield will decrease as the AUD increases, however your repayments will remain th…[Read more]

I recently re-roofed a triple storey house I will be selling in Rochester.  It cost only $4,500 to reroof.  Over 10 years that's only $450 p/a.Property management is always a concern from abroad and is difficult, fortunately I've found a property manager that also project manages for me.  She has contacts within City of Rochester and recen…[Read more]

donnacox wrote:
Hi all,As Steve Mcknight suggests there are a lot of things to consider when you are on the otherside of the world….especially the point about quality of the management, this is a major concern to watch out for and I can only relate to Upstate NY as this is where I purchased my properties (and Richard take your point well done…[Read more]

Keith

I’m more than happy to give you the details of the agency that I am currently using to prepare a couple of duplexes for sale, also managing the properties, as well as some other recommendations from people I have used.

The previous company I was dealing with has gone out of property management and these guys now manage the portfolio. They…[Read more]