Forum Replies Created

Viewing 3 posts - 1 through 3 (of 3 total)
  • Profile photo of pominozpominoz
    Member
    @pominoz
    Join Date: 2010
    Post Count: 3
    ambosh wrote:

    Why are there so many people on this forum trying to setup US bank accounts all of a sudden?!

    What I'd like to do, is have US dollar account that I can buy Tax Liens from and bank the checks into. This would avoid the transaction costs of paying the checks into a AU bank account. It would also have the advantage that you could choose the best time with respect to the USD AUD exchange rate to transfer any profits back to the Australia with a company like Oz Forex or HiFx. Ideally I would be able to bank the US dollar checks into the US account while in Australia. I'm hoping that HSBC can do that. 

    Profile photo of pominozpominoz
    Member
    @pominoz
    Join Date: 2010
    Post Count: 3

    Hi All,

    Just called in at Citibank in Melbourne and they are no help. In order to open a US dollar bank account with them, you physically have to be in the US. Pretty much a no goer if you are just wanting to start off small with the Tax Liens to try them out. The transaction costs of paying in smallish US dollar checks here would likely wipe out any money you make from the tax Lien. I'll look into the HSBC option mentioned by akirk.

    Profile photo of pominozpominoz
    Member
    @pominoz
    Join Date: 2010
    Post Count: 3

    Hi,

    Just wanted to thank Steve and the team for putting the conference together, as people who are new to property investing this has been invaluable. There are a few people bagging the conference here, but I would say this event is what you make of it. The hardest part was probably just deciding what 'product' was best for you. From what I've been able to find out, the product that Aussie Rob sells DOES work, BUT you will need to put a lot more work into it than he was saying in his presentation. You also have to follow his process to the letter or you will get burned, and this is probably where some of the complaints come from. I didn't buy his product in the end because it was not what we were looking for. I believe Steve has done his homework and all these presenters and products are of definite value, just not to everyone. I've enrolled on the Results program and really excited about the opportunity that this will give us to sack our bosses :-)

Viewing 3 posts - 1 through 3 (of 3 total)