Jay

Yes, Aussie deposits can get you 7% totally risk free. take 30% off that for taxation and inflation of say 3% and there ain’t much left if any. I don’t think too many Aussies will be borrowing against Australian held assets to buy US property. They only need to think back to the 80s when a lot of farmers lost their farms through foreign…[Read more]

Jay,Aussie interest rates are comparatively high because of the strength of the Australian Economy.  Unfortunately for Australians, overseas investors see our high interest rates and pour money into our bank accounts, etc.  Ultimately this leads to too much money in the economy which then starts to overheat.  Consequently, interest rates are ra…[Read more]

I have spoken to Housebuyers USAquite a few times but I cant quite get my head around paying upfront to look at listings.  Makes me wonder what they're afraid you're going to do.  One place I know of, did send me some pics and information and I tracked down ho they were buying from in the U.S. and it was $10,000 cheaper so I guess they have to hi…[Read more]

I received the same information from them.  I am only on their emailing list.  I have never actaully dealt with them.

Jay

So as a matter of interest, what is the investment level required?

Jay,Not sure what is on offer.  Visited the website but not much information there.  Is it a land purchase and then hold?

Detroit Dan

I looked initially at Detroit but decided I wouldn’t buy anything I wouldn’t live in myself and the 20% returns you mention would definitely not be in an area I would live. I also wonder about 20% returns over the long term. These would appear to be older properties which would most likely need more maintenance. I believe a house roof…[Read more]

I think Australians chase the high cash-flow because interest rates in Oz are so relatively high. 7% on a risk free term deposit means there has to be a high return or lots of upside to make it all worthwhile. If I could get 10% net return with reasonable upside and little risk I would go for that. There are lots of people on here touting their…[Read more]

rlillycrop wrote:
Hi MorganTurboTax produces all the paperwork directly. The only form it doesn't produce is the 1040-NR, however it does produce a 1040. So you can easily put the figures onto the 1040-NR yourself. You can then just mail the paperwork to the IRS. It will also produce State returns for you which again will print out all the…[Read more]

jayhinrichs wrote:
Portpirate,there you go, its like us crazy americans running up thousands of dollars of credit card debt at 18 to 30%… And then investing in the stock market.. Your better off paying off debt , getting into a cash position then investing. its epidemic here. Credit is far to easy. I did not realize your mortgage rates were so…[Read more]

jayhinrichs wrote:
Well now the horse is out of the barn,  If your saying Aussie investors are borrowing on their primary residences at 7 to 8% pulling cash out and investing in the states becasue they think they are going to get 15% to 20% return, and make the spread. Then what you have is a big transfer of weath, half of the aussies that do…[Read more]

jayhinrichs wrote:
Bilobunch:Not sure where to start other than to say these kind of transactions give our business such a bad name. However for everyone that comes forward to share a horror story there are 10 like you that are embarrassed would never admit they made a mistake or got taken by a Promoter or buying service.In the states we have…[Read more]

Some cheap real estate in Christchurch atm.

Don’t know the fees but count on $250/hour I would imagine. Haven’t needed them yet but will in the not too distant future.

I think these people may be able to help you out. They help people like us with U. S. Properties.
http://www.ustaxcentral.com/

Takes a couple of days to get an answer and like all accountants you probably have to sell your investment home to pay their bill.

Income is taxed in the U.S. as it is here, then there are tax credits for tax paid overseas back in Oz

All good points except the double tax system.  Tax paid in the U.S. is offset against tax paid in Aus.

I meant to add.  this property was listed for sale through MLS for $20,000.

That previous post didnt come out quite as well as I thought but the gist of it was:Purchase price $39,000, Buying costs $8,300!!  This is for a tiny 3 bedroom, 1 bathroom shack in DetroitTaxes $2,300!Not much left out of $800 month rent.

Not sure what anyone else thinks but below is typical of what I think is profiteering.  Take a look at the cost of the property and the buying costs.  Anyone agree? <!– Main Menu –> 8510 Troy, Oak Park, MI Total Cost of Ownership *: $47,300.00 Averaged Return per Year: 21 % Average Annual Rental Return: $6,274…[Read more]