Hi GaryMelbourne Beach sounds amazing.  But since I'm not planning to immigrate, it's probably better I invest in a large city with a good rental market and an international airport.BTW, what's the nearest airport to MB?And one more question, have you ever heard of someone getting an EB-5 visa by investing 500K in property?  I'm guessing not, s…[Read more]

A reader e-mailed me this great question:> Hey BB,> > I'm very intrigued by your posts, researches and efforts and I'm very curious as to how one becomes as successful as yourself. I've just turned 20 but have no deposit (just started saving) nor does my mother have a property of her own. I'm working full time for under 30k a year, if you were in…[Read more]

REGARDING LLC'SI went to see a CPA last Friday.  He often helps foreigners create LLC's to put their properties in.  He said the ONLY reason foreigners use LLCs is so that 15% of the total selling price of your property isn't withheld when you sell.He offers the following service:Creates LLC for $650He says every year the LLC needs an "annual r…[Read more]

[/quote]Aus property market is a tough one, depends on state to state generally..Darwins going through a bit of a purple patch cos of govt and resources contracts, even was seeing growth during GFC. Sydney despite how expensive property is will still have a certain level of demand, one because council and govt are pretty tight on land release to…[Read more]

Zita wrote:
Thank you to Steve & Pat for your prompt responses!Re: HSBC Bank types. After speaking in person to a Bank representative, he stated that The Premier Account does require $200,000 deposit, however I will follow this up. If perhaps it was required as an inital deposit and then later withdrawled, then your advice to then downgrade the…[Read more]

gmproperty wrote:
Hi Steve,Each time I travel over to Florida for any length of time I renew my FLdriving licence, but they only renew it for three months at a time as I travel on the visa waiver program. I have a car and a pick up here which are both insured with Geico. I always go to Driving Licence offices in person and have never had a p…[Read more]

patwx wrote:
Thanks BB for sharing your experiences. I have really enjoyed your posts. I can understand your frustrations. As foreign buyers or potential foreign buyers, our number one enemy is time because we are not there for very long. The realtors know that and will take advantage of that.  They know that we will be desperate to buy so…[Read more]

TO WHITE_GOODMANI wish I'd studied what you did.  Perpahs I'd be a Wall Street trader.  No, better yet, I could be a Shanghai trader, since that's where all the action is headed.What's your view on the Aus property market?  Bubbling, or sustainable due to the Chinese influence?

USProInvest wrote:
Hi Steve,Thanks you for your prompt response and I understand where you're coming from. I am new to the forum and have been looking at Miami and Orlando prop on Trulia website for the last couple of weeks. To be honest, Ive got so confused and don't know which area of Miami I should be looking at. Please note that I'm not a…[Read more]

USProInvest wrote:
Hi Steve,I am interested in the following list of REO prop in Miami in your earlier post. Can you send me that list to my email: tep.antree@gmail.com. ThanksThis list will be divided into 2 sections:1. REO condos priced 20K to 40K that have just hit the market, and will give good rental returns (10% to upwards rental return…[Read more]

white_goodman wrote:

British Buyer wrote:
I also believe in group behaviour, and have incorporated it into my few simple stock-investing rules:1. Don't buy too soon after the market has crashed (my mistake in 2000).  Ie. don't get caught by the Dead Cat Bounce, or Don't Try To Catch A Falling Knife2. Buy when everyone is depressed.  Don't let…[Read more]

Zita wrote:
Thank you for your well executed response Britsh Buyer, your wealth of knowledge is highly valuableand we much appreciate the effort and time you put into your posts.We noticed your previous post's have been somewhat slightly 'disheartened', and for good reason. There will always be hurdles, but you've come along way and your hard…[Read more]

As they say, "When it rains, it pours!"As if losing my dream home wasn't enough, today my Chinese stocks crashed (the reason I'm heartbroken about my "dream home" is because I'm absolutely sure I could have sold this house within the next 5 years for 1 million dollars, so if I'd got it for $281K, spent 50K to put in a pool and spruce up the…[Read more]

Here's a good article on buying REO'shttp://www.trulia.com/blog/taranelson/2010/05/top_10_myths_about_buying_a_foreclosure?ecampaign=cnews201011B&eurl=www.trulia.com%2Fblog%2Ftaranelson%2F2010%2F05%2Ftop_10_myths_about_buying_a_foreclosure

Interesting day I'm having.I just found out that I didn't get my dream waterfront REO.I hate conspiracy theories, but it seems to me there's more than a 50% chance I've been taken for a ride on this one.My suspicions have come simply from the fact that the listing agent representing the bank has been absolutely unapproachable from the very…[Read more]

One more thing the above agent told me:He hasn't seen any amazing deals during in the second half of the year.  When asked to elaborate, he said:During the first half of the year there were more REOs than buyers, and good homes and apartments often went for much less than their market value.I asked him if he thought that was a result of the…[Read more]

In the last few days I've learnt a bit more about the Miami property market, and the more I learn the more I know how much more there is to learn.My agent introduced me to the top-selling agent in her office, so I sat down to have a chat with him.  What I was most interested in finding out from him was how long I'll need to wait to hear back…[Read more]

white_goodman wrote:
Floating the RMB would be the major balancer of the current account deficit problems the west have at the moment… China needs to really be brought into line at G20, likewise the US who are ruining export economies.Reasons im looking to the US:- negative sentiment on US is very high both domestically and internationally-…[Read more]

Zita wrote:
Good Afternoon All and British Buyer in particular.My partner and I have been compelled by your posts and everyone else's on that note, since we discovered this forum a few weeks ago. There was a turning point about a month ago when we both started to gravitate over the idea of investing in Miami (as this has always been a fa…[Read more]

THOUGHTS ON REO PURCHASINGEach day I wake up wondering whether I'll hear back concerning the REO SFH with waterfrontage that I put in a bid on 7 days ago.Here's a breakdown of how it all took place.The REO was put on the market on 30 Oct, for $224.9KIt was the very first home I viewed (I saw it on 1 Nov), and I knew it was special, simply because…[Read more]