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  • Profile photo of avi_shalom27avi_shalom27
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    @avi_shalom27
    Join Date: 2008
    Post Count: 3

    Hi everybody!, a lot has been written here about account setups, ITINs and SSNs but I am curious as to the US process of refinancing after purchase as a *foreign investor*.  If anyone can help in this regard I'd be very appreciative.
    Success to you all

    Profile photo of avi_shalom27avi_shalom27
    Participant
    @avi_shalom27
    Join Date: 2008
    Post Count: 3

    Thanks a lot for the email Richard  I will drop Chad a line.  I'm interested in purchasing a bulk lot of foreclosed du/tri-plexes from a bank in Buffalo and am attempting to gauge the market there also before the decision is made.  I may also require equity partners.  Would you know Richard what the best suburb stat site for US localities is in this area? I've found some sites very helpful for other growth states like Nevada-pinal county & Henderson Arizona, but found the Buffalo and Ohio stats quite limited 
    Kindest regards
    Avi

    Profile photo of avi_shalom27avi_shalom27
    Participant
    @avi_shalom27
    Join Date: 2008
    Post Count: 3

    Before I purchased two properties in the USA, I enquired with the ATO about the tax implications of a CGT or rental tax.  I was informed by a specialist in US/AUST tax law that people who sell their properties and rent them will not be double taxed by the IRS and ATO, but rather only by the IRS as the transaction was carried out within the United States.  As far as indirect investing goes, I think many of the potential problems Steve pointed out above are true, but then again, If you can pay off an entire undervalued foreclosed property within 2 years on very reasonable terms, obtain owner financing a lot easier than in Australia (as many there are more familiar with the idea than in oz) and coordinate with property management services effectively (which is simple using todays advanced communications networks), you can pull off some incredible deals!…PS has anyone seen Chad Simons about? I'd like to discuss investing in Buffalo with him. take care all and Invest in the US!……opportunities abound everywhere on this globe, and the US right now appears to have the largest volume of opportunities

Viewing 3 posts - 1 through 3 (of 3 total)