Forum Replies Created
- Fantastic Plastic wrote:Very interesting topic Cappy, I’ve recently been looking at buying a couple of properties in America, not sure exactly where to look, but it certainly makes more sense than investing in Australia. I see what you are trying to do, but you can’t leave out some of the expenses. For example you have NO tax in Florida whereas in Australia you do, there will be capital growth thanks to the excessive printing of money and finally, where in the world can you buy a house for $50k with 4 bedrooms that’s only 6 years old fully paid off and never have to think about mortgage repayments or rent? AND the best part about it is you can buy a H2 Hummer for $18k!!! USD!!! In Australia you pay more for EVERYTHING!!! From cars to nappies…. its just plain dodgy!
I’m so close to leaving Australia, I just need to decide on what and where exactly.
Yeah that’s true Australia is a very expensive place to live but that also means you generally get paid pretty well. I’m a carpenter one year out of my apprentaship and if I don’t do any cash jobs or overtime Im on 60k a year. Im not sure what wages are like in other countries but I don’t imagine a country feeling the pinch of the gfc would pay that well.
Thanks for the input guys, do you have ip’s in the USA at the moment? If I was to decide to invest in USA next year do you think there would be any value in opening my USA bank accounts now and making regular deposits (genuine savings) to try and establish some kind of a credit history?
Ok if the US property has the same capital growth as AUS property it will have 52,500 extra, still leaving the aus property a clear winner. But then you could also argue that AUS would have better figures if you took into account negative gearing tax benefits and profits from rent when it would eventually become +cf.
I’m happy to be proven wrong, I’ll be looking to invest early next year and if I think USA property is more profitable i would have no hesitation to look at those options.
Thanks very much for that insight Jay, I will be taking your post into account when it comes time to decide where my hard earned will be invested!
Judith, you said you attended the Thomas Senatore’s Tax Lien and Deed training, would you recommend this? There seems to be a few online pakages for sale which arnt too expensive…
Joann wrote:I am interested in doing a workshop about Tax Liens, and you mentioned you had done a 2 day workshop here in Australia that covered that topic? Do you know of any up coming workshops?There is the propertyinvesting.com live marketupdate coming up, but im not sure how much will be spoken about Tax Liens.
I would also be interested in any upcoming workshops on liens.
Hey Aaron
Im interested to how you are living over there, does the income from your investments pay you, or are you living off your savings?
Do you rent? own a car? How do you find these expenses compare with just flying to the us for a short period.What do you think are the major advantages of been on the ground living in the us vs’ flying in to inspect potential investments and flying home again?
You speak about investing in tax liens and you also seem quite informed about the US property market with rental yields, housing prices, market direction etc. do you have investments in property also? if not, is there any particular reason you only invest in liens.
I have many more questions but they are the main ones.
Thanks!
Matt.
Have been reading quite a bit into liens lately, sounds like with a little due diligence you can pick up investments with a good rate of return.
Why have you guys chosen to invest in liens rather than US property itself (or aus property for that matter)? Do you think the potential profits that can be made are better then investing in US property? You obviously have a smaller outlay, pay less taxes, no agents minimal legal fees ect. did this influence your decision when investing into liens?
Thanks,
MattIt’s generally pretty hard to get a hold of trades people after this sort of a thing. But if you were to use a bigger company specializing in new homes rather than a builder out of the yelliw pages. I don’t imagine it would have too much effect. As they won’t get involved in repair work and have there own trades.
I’m a carpenter. Seems a shame to cover up those sleepers they would look great with a bit of a sand and polish. How big are the gaps? With what your wanting to do I would get cement sheet tile underlay, but screw it down instead of nailing (will eliminate all movement and squeaking caused by uneven floor.) then as suggested get a self leveling floor ardot and you should be fine!
Your up and posting nice and early Richard. Thanks for all the advice guys, I’ll be giving the bank a call today to discuss IO.
Kind regards, Matt
with regards to electrical i think they just get tested but generally the cables are fine.
Im a carpenter and I work for my father who owns an Insurance repair company, he is flying to brisbane on wednesday next week to look into setting up a base to work out of. With the floods from North QLD a couple of years ago wall linings (plaster board) were cut half way up the wall (or higher from flooding point) all skirting boards and architraves (usually made of mdf) all replaced. tiled floors get lifted and re tiled, timber floors get sanded and re polished, and new doors through out… Provided you are covered by flood insurance!
With regards to these new floods there is lots of talk of toxic water, houses may need to be stripped of all wall linings and decontaminated with an industrial cleaning product.
Thanks everyone for the advice I think I’ll be holding onto the property with an offset account.
And I also have an undeclared boarder living with me currently and have done minor renos (been a carpenter helps
) as Johanne and a couple others have sujested.Thanks again everyone, only came across this site a couple of days ago and I think I’ll be hanging round for a while!
) as Johanne and a couple others have sujested.
