Some of the -ve responses on this thread with respect to investing in WNY particularly Buffalo are an important reminder that anyone can say anything on here for free and it doesn’t have to based on facts just ill informed, knee jerk gross generalization is a good enough qualification to post your feelings.

So the value derived by readers to…[Read more]

I found the ANZ Break Free package best for me with a saving account that is offset against PPR mortage and a LOC (based on my PPR Home equity) for High Cash Flow IP’s that I keep maxed out for interest tax deductability.

I keep my savings up as my IP lender (not ANZ)likes to see that, it is also reducing the interest on home loan and it is…[Read more]

I have some knowledge of Ajay who runs the hotspots in the USA site and have spoke to him a few times about the Scottish and Buffalo market. He has a pretty good track record in the UK and is one of the top cash flow gurus out there. I dont think the deals on his front page are the ones he is touting as they have been sitting on his site for a…[Read more]

The Brits are also getting pretty serious about investing in the area as well, more demand has to be good

Check out
http://www.hotspotsintheusa.com/page/page/2222170.htm

Well I am glad to say that I am investing well outside of those “certain parts” and in fact in an area that is consdiered undervalued by 13%against “normal housing values”

So lets see undervalued US $ against oz $, undervalued housing area and buying at 80% of value yes I will take the risk.

Originally posted by jonas:

By the way Steve did say during this weeks masterclass in perth that he has in fact stopped buying real estate. That doesn’t mean that his partner Dave has stopped.

jb

well thats not what the quote in the Australian say

Piggy,

With respect to your question on yields in Buffalo if you are going out there you should be targeting 30% minimum try right on the Buffalo side of Cheektowoga suburb this is a good area and 30%is doable. You also get the benefit of being very close to the suburbs.

Bruham,

Duplex paid 25.5k last month in US

same proeprty previosuly sold

May 04 for 64k

June 94 80k

I reckon I am buying at the bottom.

Thats my bet

Liz,

You best talk to an accountant but in general the % rate in the above messages will aplly either 15%, 23% or 30% above on $600 depending on how you structure it also cost of doing return will need to be deducted as well. Then any ozzie tax due after that if you take the money back here and it is outside the DTA.

Liz,

Also dividends from a company are taxed at 15% . So without state tax you are looking at 30% and then there is the question that the dividends for a company are not part of the DTA so they may have to be declared as income here in oz……

does the non-resident return start to look better to you ?

Liz,

8% state tax and depending on who you talk to and where your C corp is resident some say you dont have to pay it. I think you do for what its worth. Also tax rate increases for higher profit.

Just remember the double taxation agreement doesn’t apply to coporations and any funds coming to ozzie are taxed as income even after you have payed…[Read more]

Liz, 6 months for a business account but you can open a personal account straight away. Wouldn’t know how they compare with other banks in US but they are a major bank.

Bank of Hawaii are the best.

Liz,

You can open up a personal US HSBC account here in oz.

If you want to open up a US LLC or business account I think you need to be there. There might be an option to have a business account opened by an attorney under power of attorney.

or just go to Hawaii and have a good time and open up a bank account in between pina coladas and the surf

Hey Mabbott this should help you get started.

http://www.nyccashflow.com

I started looking at Buffalo June 04 and got on to these guys they are a very good cash flow investor group I used them to get set up and start buying in Buffalo first purchase was in early January 05.

eg duplex in decent area paid 26.5K spent 9k on rehab now in excellent…[Read more]

If you are chasing higher yields for residential property you might have to go where they are to be found and it might not be in your local area.

eg you could go the US and get a property at 30%yield ….

Allan,

I have been studying the US market for the last 12 months and disagree that regional areas are on the bubble.

Sure the East and West coast major centers such as California, Boston, NYC, LAs Vegas some parts of Florida are over valued and fall within the bubble defintion. But most regional areas have either being growing steadily within…[Read more]

Tony,

Thanks for that I have just Pm’d you, look forward to getting some certainty on this issue.

Mark,
Thank you for response, which I understand. But I am having difficulty seeing the benefit of the C Corp as there is a double taxation issue as opposed to a straight non-resident return and withholding tax once.

If the C corp pays income tax and then there is a withholding tax on a dividend and the trust will also be taxed (sure it gets…[Read more]

Hey Aeros Oz we have an investor group that is working the WNY region, those issues you rasied regarding investing out there are certainly pertinent.

We have done extensive research and are now at the stage that we have overcome most of those problems (never them all). So you are on the right track and good luck with it all.

Afloat,

I have been researching the UK market in general for some time. What I have found talking to friends and relatives and re agents is that their market is booming and most major cities have experienced high growth, but there are still aeras lagging in North England and Scotland. 10%yields are common and up to 15%. There is talk over there…[Read more]