Sounds very exciting, I was last year after I bought my house in Fort Myers. I drove from Miami, nice and easy. FM is a nice place, cheap clothe as well. I opened my account and saw a few house and drove around to see what it's like.

Hope you have fun

good luck

Mosqui

You can open an account without going to the US, but it’s not legal. It can be done, but the bank’s manager takes all the risk. The can close the account as well, I have been told.

I also used Judith, excellent, very professional and honest. Couldn’t done it better myself. She got a lot of experience here and in Florida too now. She also owns houses in Fort Myers, so at the end of the day she is another oz investor in the US.

I can only talk about WA and I think Karratha is a lot better than Port Hedland to invest as it has all the government agencies and the hospital. I lived in both cities and Karratha is a mining town with families and it’s a nice place to be, Port Hedland is not. Karratha has Woodside, Rio, BHP, Burrp Fertilesers, Dampier Salt and the port of Dampier feeds all the oil rigs in the area. A lot of big industries, a new town development coming up and a big future.

I done some research about Morambah and looks interesting too, but I would like to go for a drive one day. Dysart was in my list too.

Just my two cents

Mosqui

I haven’t bought any property yet and still doing research, but looks like you only had feedback from people selling, not investors like you.
There are a lot of posts about companies and different people’s experiences if you search the forum. You have to narrow the area you want to invest and then the companies working on that area, but I think you should make a trip to see it by yourself at least once, I know you work as a contractor, but I’m sure your rate allows for some time off as well. At the end of the day you should not trust anyone with your money, but it’s all about risk, like any investment.

Hope this helps

Mosqui

It’s a lot of information on this Forum about property in the US. Just go through the forums and you will have most of your answers regarding LLC, locations and possible finance.
Basically you need a LLC (easy to set up), a bank account and a representative(or whatever you want to call it) in order to get all the communications. But get your own research done before you start making contacts.
I think that the main problem is to contact a good property manager in which you can trust, as it’s not easy to maintain a house from Australia and even if you have a good deal when you buy the property; a good management it’s the only way you can get a good return and make the business viable.
I’m also doing some research and will buy properties this year. I’m in WA

Mosqui

I’m not sure, but if you create a family trust you can get the same result but cheaper.
What the experts think about this?

cheers

Mosqui

Keep reading, reduce your debt and learn from other’s mistakes, this will save you a lot of money. The US market is very strange, like any financial crisis you can not predict the movement much, even when you can see some indicators, but you should not rush to get into action yet. There are cash flow positive properties in australia right now, most of them mining towns.
Read, learn and think which strategy you want to follow, so how much risk do you want to take.

Don’t get anxious.

Good luck (you always need some)

Mosqui

So, why don’t they do the business then?
This is usually the first question I ask myself when I see a good deal, why someone else has not done it already? These companies selling big dreams, why they don’t buy them instead of telling you about? They will say that is not their business, but usually the truth is that the risk is higher than they tell you.

This is crazy, you mean that people should not have investment properties, do you? Then this forum is not really for you.

I think this thread is confusing for everyone because Istvan has not explained the concept clearly from the begining