Forum Replies Created
Hi Steve,
That would be amazing if you could hunt down a definitive answer for HSBC.
Cheers,
Ben
Thanks for that Cococam,
I’ll be calling HSBC straight away tomorrow morning to confirm this. If so then I may as well cancel my account with them.
Hey Rick, that bank seems to be based in Florida. Did you buy in Florida?
Jason,
I’ve got an HSBC account. The 3 months is a necessity, so just open your account today if your not needing it right now and in 3 months you’ll be able to get one possibly. I was told that is on a case by case scenario. Hope that helps. I currently have not had my account for 3 months yet so I cant let you know how easy it is. I would assume that A$200 is cheaper than getting an attorney to set one up though…..or flying there….. I found Citibank really annoying and not forthright with information, just wanting to get me in the door, credit card etc etc. However, that may just have been my single experience.Hey Troy,
Sounds interesting….
In what states does your lender’s loans apply?
Beautiful.
Thanks Qlds007/Richard. I’ve found some real easy stuff online. Cheers!!
Your right I do believe I was complicating matters. Now I just need to find out whether I can claim the interest for an overseas property investment or not. And if so where I can claim it. OS tax return or AUS tax return…..
Hope your having a good holiday!!
Thanks,
Ben
great info scout!
Just quickly did you set up a bank a/c when you were over there linked to your LLC? Or have you done all that from here?
I’ve just been into HSBC but for a bank a/c in personal name and you have to open an a/c with them here first and hold it for 3 months before they will open an a/c from here in the US. Slightly frustrating….
Shape, I would imagine it would be the 2nd option as cash isn’t easily available to them (all tied up in a negatively geared property). Basically I don’t want to do it unless they can claim it as a tax deduction or get something out of it. How to make a paper trial? There has to be some way around this. Looks like I’ve got a lot of reading to do…..
Thanks again Terryw. At the end of the day I’ll need to go to a professional but I guess I just wanted to see if my lateral thinking was at all possible. Hmmmm.
here him, hear him!
Well said YGWYPF
Thanks Terryw,
No one in my family has ever had Centrelink so I doubt that will affect me/us?
Yeah you pretty much sussed out what I was thinking there with the LOC as they don’t have it handy.
Do you have any idea how this would work though? Claim the Oz loan directly on the US property? Claim the loans here in Oz as a deduction? Shady waters if done incorrectly.
Also where or how would you set this kinda stuff up?
Cheers
ajayayyar wrote:RickH wrote:Hi Ajay, I have had rentals in Qld before but this time wanted something with low outlay that generates immediate income. We purchased a renovated 3 bedroom house in south Kansas City Missouri. After proprty taxes, management fees ect we clear about $700 p/m. 1st payment went into the account the other day. I have not attended anyones seminars in the past. I have spent a few months reading up and studying Kansas City and bought in a middle class area 65% owner occupied close to schools major shopping complexes as well is easy access to highway to get to downtown area quickly. We bought using HouseBuyersUsa and their service has been 1st class and so far so good. I believe every transaction is a risk but if you dont try you get no where ! Look at it long term your property pays its own way, you get passive income who cares if the values still down for 5-7 yrs ……. it costs you zipHi Rick,
Mind if I ask how much % down you put to buy the house and very approx value?
Something like property value $100k and put down $20k.
and I assume $700 per month is the amount you get in your pocket even after loan repayments (or am I wrong…)Agree on your point about passive income…
cheers, ajay
ajayayyar,
if you ACTUALLY read the thread you will find that rickH has already answered your questions.
– He bought in Fairlane Dis, Kansas
– He paid cash 100%hey mate love to be able to meet up but unless some miracle happens I wont be there in July, but I will keep it in mind!!
morpheus thanks for you quick reply!! good luck. I’ll be checking in on your progress. I’ve read A LOT about Dallas – FW. My brain is going to explode. I imagine it will be great for you to actually get your feet on the ground there.
morpheus – Congrats on the blog, I really look forward to reading and signing up to your blog too. Do you know of any other blogs anyone else has done? I’m on the information hunt….Also why have you called it usapropertynightmare? just wondering….
I too am thinking of doing the same thing but am probably a lot further behind you in the scheme of things?
3 questions (well a load more really but start with these 3)1. have you completely discounted vegas?
2. are you going to get finance?
3. are you going to use a broker firm in oz or fly solo?speedy – your right. and furthermore apparently “The following states are considered non-disclosure: Alaska, Idaho, Kansas, Louisiana, Mississippi, Missouri (some counties), Montana, New Mexico, North Dakota, Texas, Utah, and Wyoming.”
