Hi RichardAre you talking about residential finance or commercial?Thanks Richard

Hi RichardThat's great how much documentation is required? I have an ITIN but not an SSN.Richard

The Detroit economy relys heavily on the car industry. I used to work in Automotive Design and have seen over the 12 years that I worked in it, more and more of the work going to China. In my view the major auto manufacturers in Detroit and elsewhere will continue to downsize significantly. I am sure there are better areas in Detroit as well, but…[Read more]

Hi ChrisI'm sorry I have offended you. I am not intending to spam. I have recently found this website and am just commenting on the threads. If people wish to click on my link then I am giving them the option, if not then they don't.I am not an expert on Australian tax law and wll leave it to you.Richard

I would say keep it simple. Complete a US tax return for your USA activities and an Australian return for your Oz activities and keep the two separate. With the depreciation, deductions and business expenses for the LLC you shouldn't pay any tax in the US anyway.With regards to getting cash back from the US, I would avoid the ATM card as the…[Read more]

Hi Jess7% is a pretty good management rate, so if they are doing a good job I would keep them. I think it comes down to if you have the time and tradesman contacts to manage it yourself and you live locally. Also if this is your first property, are you thinking of getting some more? More in one place could work, but if they are geographically…[Read more]

JoshAlthough I do have my property in Niagara Falls, it is not an area I recommend. To be honest my properties in Indianapolis and Texas are much better investments (higher net returns). The property in Niagara is built around 1910 and requires a lot of maintenance. Up until now the tenant who is through Section 8 has been pretty good, but in the…[Read more]

Can you get finance outside of Florida?

I agree with Tony's post above. The amount of deductions you can claim on a US tax return should mean you pay no tax. Claim on all the above and don't forget travel and meal costs if you are visiting properties. If you have a LLC in the US then you can claim business expenses also.

Hi RobDon't be afraid to change property managers. There is no shortage to choose from and you will find a good one.Hi Karen,Stick with good quality markets like Dallas, Austin, Houston and San Antonio and definitely stay away from Buffalo, Detroit and Western New York State.

Hi ToddI can recommend the property manager I use for my property in Niagara Falls. They are my third manager, the other 2 being crooks. I have been with them for over 18 months and they are great.Rosato Management Services Inc.http://www.rosatomanagement.comThey do charge above average rates per month, but it is worth it.Richard

Sorry for the blatant self-promotion, but there's quite a lot of background information on my website.

You are correct finance is an issue and due diligence is a must. Using your equity is the best option at the moment as it is pretty impossible to get finance in the USA. I was over in LA October last year and the main factor affecting property prices appeared to be the school district. You can use Zillow or other research sites to check out the…[Read more]

I think every investor is different in terms of risk tolerance and budget. My personal opinion is that Indianapolis, Dallas, Austin and Houston are very strong markets offering great returns. Both in terms of rental income and capital growth. I believe California is a great market and would make an amazing vacation/second home, but the prices need…[Read more]

Using an LLC is a great way to hold US property. It provides another layer of protection from holding property in your own name. I would also recommend getting landlords insurance with a large amount of liability protection.Unless you are a US citizen you can't form an S or C Corporation.

There are better areas to invest in than Buffalo, Rochester and Western New York.

When you buy investment property, whether in the USA or in your home market, it has to make sense the day you buy it. The only time value is important is when you buy it. What you are really buying is an income stream. My portfolio of USA properties had really good net returns when I bought them and still provide an excellent cash flow each month.…[Read more]

I agree with the above posts. Just because a property is cheap doesn't make it a good deal. My personal preference is Indianapolis, Dallas, Austin and Houston. Of course there are other good areas and bad neighbourhoods within my preferred cities. I would definitely avoid Buffalo, Western New York, Detroit, Ohio and anywhere that looks too good…[Read more]

I think the Atlanta example above is a bit exagerated, however you can get 9-14% net returns or higher in Indianapolis, with most houses being less than 10 years old and range from $50-$90k. Most of these are bank-owned properties and I have contractors that carry out the work to get them rent-ready.If you want a really safe investment then…[Read more]

Buy to let mortgages in the UK are really hard to get at the moment. I live in England and can't get one. Could you maybe use an Australian line of credit? I think the UK is heading for big inflation, so try and fix your rates.