jayhinrichs wrote:

lawsys,,, looks like you will have to continue to suffer through that cash flow dilemma…

Yes some parrall’s to the AF 447 were captian was not in cabin and co pilot lost it some how… I start my IFR refresher today I fact so get to go smash some bugs in my Cirrus today !! you probably saw the splash down and rescue off of Maui…. that’s my plane. that one was bound for AU.. I think it was going to be the Cirrus demo. well 750k sitting a the bottom of the ocean because of a valve failure.

What part of the country did Emma end up in ?

I have my first trip to Singapore in Sept.. so excited to see that part of the world.. AU next.. and yes those BUS class seats are expensive but I just can’t sit in coach that long LOL…

As for your US investments you could not have timed it better if you had a crystal ball and bought in a better market …. CA has always been one of the best markets in the US to buy for appreciation.. I know everyone talks about cash flow.. But when CA moves up you can ake 10 years of Cash flow in one year on appreciation moves in CA.

This site has gone completely dead in the US property category only one who posts here is Nigel and me occasionally and the young man Engelo who is doing well up in Toledo Ohio.. I am quite fond of him.. he has gone through his learning curve.. and has a nice little business going… for those that want that asset class.

Some of the other larger US and AU marketing companies that were the big one’s are re tooling as sales from AU have just fell off quite a bit..

And of course I still get he odd e mail from someone who bought poorly in Detroit or some other Ghetto had no clue as what they did and have no chance of recovery and have in fact lost all their money.. its sad really.

Thanks Jay,

Your praise is much appreciated :)

Have a great day

Redwood wrote:

<div class=”d4p-bbt-quote-title”>CharlieX wrote:</div>
hello everyone,
this looks like the right section of the forum to put up my post.

we have setup an LLC in Nevada last year to invest in properties in America, but we have run into dead end trying to get a bank account setup in America. I am an American citizen who has lived in Australia for the last twelve years and my business partner is an Australian citizen, the bank people in Australia and America said we can open the bank account in my name but I have to go back to America to be present to open the bank account. We want the bank account to be in the name of the LLC company, not in our personal names. Does any one on here know how to open a bank account in the company’s name, without having to go to America? Also once the bank account is open, is there any limit to the amount of money you can send from Australia to buy American properties? and what is the most cost effective ways to flow the money between America and Australia?

any advise is appreciated. Thank you

Hi there,

Yes you can open a bank account in the states without actually going there.

Over the last 24 months, we have been performing a significant amount of structures in the states for SMSF and non-SMSF. Part of this was dealing with incompetent attorneys in the states setting up LLC and bank accounts for us, only to see they set it up incorrectly, i.e wrong name, incorrect managing member etc.

As a result, Redwood now offers LLC set up and bank account set ups for Aussies looking to invest in the states.

It is quite simple, I would include the process for those interested in a separate post but it is bloody easy.

The bank account can be set up in individual or LLC name, you will need 100 points of ID plus OA & EIN for LLC. Otherwise it can be done from Oz without travelling there. Set up fees are quite cheap to.

Hope that helps!

Cheers Ivan

I need your secret mate?

No power of attorney tho

Does the account owner have complete and sole access?

Thanks Ivan.

Thanks Ivan,

We are already on the site.

Will be listing a few properties today actually.

Great idea by Jay.

Its already getting some awesome feedback from Bigger Pockets.

Thanks ;)

Nigel Kibel wrote:

I offer a mentoring program and deal directly in Florida

I keep hearing about people paying $20,000 pls from so called US investors.

I am sure that Engelo and Jay will agree with me

If you want to invest in America do it with trusted people on the ground

Unless you intend to spend 6 months on the ground doing your own research you are wasting your time

The quality of the person you are dealing with makes all the difference. I spend every second month on the ground and have a full time partner in Orlando.

If you do not like Florida both Jy and Engelo are good people to deal with

Thanks for the mention Nigel,

I always stress to focus first on the people and then on the stats and demographics.

In most cases, its the people that cause financial ruin and not the actual market itself.

Just my opinion :)

Thanks and have a great day.

North Dakota is not sustainable.

Like with any market depending on 1 industry.

There are better areas to invest in the US.

My picks are Ohio, Michigan and Indiana.

Low values, fear still overpaying mum and dads and no institutional buyers

Feeling like kids in a candy store all day haha

Thanks

hahaha

Steadily growing the business.

We are now fully licensed and insured with our very own in house property management and Realty company.

Mr Hinrichs was instrumental with advice over lunch in Chicago.

We followed his exact words with hiring an in house broker in order to legally run in house property management and we added on a realty company lol. We have 2 agents on board thus far.

So hats of to Mr Hinrichs :)

Just got your email.

Will give you a call :)

3rd video to the right :)

Hi Brett,

My picks are Ohio and Michigan and other states on the Midwest.

The media is pumping high unemployment and declining populations which is keeping Mr Wall St from waving his magic wand and pumping $2b into these markets.

Much of this is not the case for many pockets in cities across Ohio and Michigan.

We are seeing great value and returns and I feel like a kid in a candy store at times haha

Thanks and have a great day.

Redwood wrote:

Hi Lotte – I know quite a few people on the ground that can assist you, but in the meantime reach out to Engelo who works in the area – he may have a yellow ladder story to assist you :)

Cheers Ivan

Thanks Ivan,

I believe that Lotte bought C class turnkey properties at those prices and it will be very hard to get the invested funds back.

Lotte,

Please feel free to email the addresses and I have a few contacts in Cleveland that might be able to assist.

[email protected]

Unfortunately I have my hands full with numerous ventures and can’t dive into this one.

Thanks and have a great day.

ps. Ivan, look out for our Yellow Ladder Christmas editions haha