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Rosa Tong
Member
@rosa-tong
Join Date: 2011
Post Count: 74
December 5, 2011 - 8:32 am
like thongs( flip flops)?… hee heee… boot (trunk)? Jiro sandwich (donor kebab)… also cheerios (wieners)……just a few things to help break down the language barrier…..
Rosa Tong
Member
@rosa-tong
Join Date: 2011
Post Count: 74
December 4, 2011 - 4:21 am
got it right on the button… rehab means reno'd… the lingo is weird i know…but after a while you get used to it…
Rosa Tong
Member
@rosa-tong
Join Date: 2011
Post Count: 74
December 3, 2011 - 10:12 am
NP…. good luck with that…remember that if you DON'T Understand at least or feel that the PM doens't understand what you want…. give it some more thought. Investing always carries risk, but invest and risk at a level of discomfort you are willing to take….
Rosa Tong
Member
@rosa-tong
Join Date: 2011
Post Count: 74
December 3, 2011 - 9:13 am
since idetroit is starting up again…. i would do more research on your properties…. I have recently posted some website info… do research on the properties that you have…..that is if you do actually own them… if there are any liens… or claims on them… and who in the area can act as your agent to fix this situation….If you are able to go over, to try to find a property manager then buy all means go… remember if you already own the property… you will be able to write off the trip on tax as it has to do with your own personal investing. Consider how fast you want to resolve this situation and what you want to do… do you want to sell or continue with the investment properties…
I have had dealings with MyUS…Luckily i just paid the intro price… I checked them out with ASIC and found out that they had only been registered recently… ie a year or less… I am unlikely to trust such a young company. After I paid the intro fee… only a few hundred… i just get the occasional email.
I did let them know that i didn't have much money to invest at the moment and that i was saving…. eventually the emails stopped. However with the one that i am currently with…I kept emailing them… even though I had not yet reached my first deposit amount and they indeed answered my questions… From the time I registered to now… where i am starting my first purchase has been over a year…so they have been very patient and helpful with everything. even when i said that i i couldn't buy a property outright and was looking for finance, they kept checking back with me to see how i was doing and to let me know about any new financed properties….
Check out my topic on sites and give serious consideration to taking a 'holiday' o/s to deal with your property… make sure you email and possibly 'skype' any possible PMs before you go so that all your questions… even ones about state and property tax as well as insurance are answered.
Good luck with resolving your property woes….hope you have a better experience in the future.
Rosa Tong
Member
@rosa-tong
Join Date: 2011
Post Count: 74
December 3, 2011 - 8:58 am
i would get a lawyer to check to see if they are still under your name or if they have' acquired' it from you… you may be up for taxes and the states can claim and sell it to get them back….
Rosa Tong
Member
@rosa-tong
Join Date: 2011
Post Count: 74
December 3, 2011 - 8:45 am
Oh also… trips o/s can be written off in tax if you are seeing an investment property that you own… the initial trip to set it up may not be…. ….I used to be an accountant, and help people with their tax….so check it out with the ATO.
Rosa Tong
Member
@rosa-tong
Join Date: 2011
Post Count: 74
December 2, 2011 - 8:37 am
WOOT hopefully soon to become an owner of my very first investment property!!!!! HBUSA have so far been excellent. I managed to scrape together enough for a financed property… sold my shares just before it collapsed, and moved my money out just before the dollar went under parity….Although now it is back over parity with the AAA rating …. still awaiting more stability in Europe….may go down again. but!!! process has begun!!!!! Investing WOMBAT!!!!!!! (for all those mortal kombat fans)
Rosa Tong
Member
@rosa-tong
Join Date: 2011
Post Count: 74
November 11, 2011 - 8:05 am
some valid points and yes i have considered it "my set and forget" to me basically means that i can choose my level of involvement to a certain extent. I am not uneducated with regards to the issues that being a property investor entails. Yes i have been saving madly and i thank you for your concern. i a not sacrificing my "life savings'. to me that is just stupid. I would ensure that i never spend anything that i couldn't afford to lose.
I tell you having 'wasted'20 years and over $150k dealing with the massive issues of my family's failed property investing and management. i feel that the 2 years that i have spent saving for a property in the US is really peanuts.
The thing with me is that if you don't risk there is no reward… I have actually made a living doing jobs that people hate and made money off doing the opposite of what everyone else does… so far so go.
Yes i am in a low income bracket…and yes i would be disappoint if i didn't make any money… but i plan to keep the money in the US for now and keep building up my portfolio over there.
I realise that i may be ranting… sorry for that, but i have heard all the arguments… i don't dismiss them, but i also know that a lot of people's main motivation is fear and the once bitten…never again philosophy.
I have started the ball rolling….
Rosa Tong
Member
@rosa-tong
Join Date: 2011
Post Count: 74
November 8, 2011 - 9:32 am
the only problem with set and forget investing….is that you really can forget… Liquidating my shares now so that will help with the saving a little. JOY!!!!! when they get sold…. i can then buy….. and set and forget my usa house…. joy!!!!!!
Rosa Tong
Member
@rosa-tong
Join Date: 2011
Post Count: 74
November 1, 2011 - 10:29 am
if it's all expenses paid why do you have to pay 10 k
Rosa Tong
Member
@rosa-tong
Join Date: 2011
Post Count: 74
October 23, 2011 - 7:42 am
glad i just dodged that bullet then….
Rosa Tong
Member
@rosa-tong
Join Date: 2011
Post Count: 74
October 20, 2011 - 9:32 am
nathaniel is great help thanks ricki… hoping to take the plunge latest early next year… depending on what properties are available so excited.
Rosa Tong
Member
@rosa-tong
Join Date: 2011
Post Count: 74
October 9, 2011 - 10:52 am
Hey rickH,
I have registered with HBUSA…when you bought… what other extra expenses did you have? Accounts' fees, lawyers…etc… I have gone with the full package and getting ready to by hopefully in a few months… just trying to get a ballpark estimate…. of extras. would be great!
Rosa Tong
Member
@rosa-tong
Join Date: 2011
Post Count: 74
June 1, 2011 - 3:22 pm
YAY!!! got the US bank account!!!… also registered with Ozforex to be able to transfer money OS no fees if the transfer is over 10K… nice!!!!
HouseBuyersUS now can offer finance… 50% down though… So I am a little short for that at the moment…. BUT am working on it ASAP…. Have applied for a permanent job where I work, with more humane hours. It is a little less per hour, BUT plenty of chances for overtime and weekend work… yay!!!! time and half and double time!!!
At the rate that I am currently saving I should have enough for a 50% down by the end of the year…or early next… So any OT money or tax return is bonus!!! fingers crossed for OT and money back from tax…
One of the reasons that I am posting here about my investments and general finance is to allow people who DON'T have a few hundred thousand in their super or just lying around to see my journey and be encouraged that something can be done for your future.
Snaps for rickiH getting his first rental cheque!!!!
Rosa Tong
Member
@rosa-tong
Join Date: 2011
Post Count: 74
June 1, 2011 - 3:11 pm
RickH wrote:
Rosa,
We were advised to try and leave 30% of the income in a US account soley to be able to pay income tax bill at tax time. No reason why you cant take it all out but need to save the $$$ needed to cover your tax bill.
Rory,
I am planning to hang on to this property for minimum 7-10 years. If the rent is being paid i have no reason to want to try and sell it. I dont predict any capital gains on the property for some time.
Cool
I am planning on hopefully getting US finance and using the rent to pay it down fast as well as moving money there to help to get more property….specifics are not worked out yet as I am still short on the 50% down requirement.
Rosa Tong
Member
@rosa-tong
Join Date: 2011
Post Count: 74
May 14, 2011 - 2:24 pm
Haven't posted in a while… has been a bit slow with the set up of my US account… entirely my issue though… needed to get more current ID… grrr…. passport office…. ah well…. will have it next week and then full steam ahead again….Not really minding the delay… gives me a chance to save up more cash….
Rosa Tong
Member
@rosa-tong
Join Date: 2011
Post Count: 74
May 14, 2011 - 2:15 pm
RickH wrote:
AJAY: I dont have a loan attached to my purchase. Our property was aroung the $50k mark. We were going to finance and do 3 properties but decided no finance and 1 property as got sick of the even moving requirements to secure bank finance.
There are a few posters on here that will give better info regarding US finance ect .
MAX:
I am not aware of any specific legal requirements to purchase but I have been advised that setting up LLC for purchase is the best way to protect yourself legally….
Other requirements will be US bank account and some good people on the ground to look after property management ect.
Hope the info helps a bit
I think that I also recall that a certain percentage of the income must remain in the US but its like only 35%… best to check on that…any ways any positive income is better than none.
Rosa Tong
Member
@rosa-tong
Join Date: 2011
Post Count: 74
April 21, 2011 - 12:11 am
Okay… progress thus far… have signed up with House buyers USA…
I have LLC and EIN…. now awaiting Bank account…good communication so far and I feel real comfortable with them.
Rosa Tong
Member
@rosa-tong
Join Date: 2011
Post Count: 74
April 21, 2011 - 12:07 am
Congrats… I have just gotten my LLC started and the ein…. now awaiting the bank account stuff… As you said excellent communication with this mob. especially when I pointed out that I preferred email to phone…given my occupation. here's hoping….
Rosa Tong
Member
@rosa-tong
Join Date: 2011
Post Count: 74
April 11, 2011 - 8:33 am
I have become a member at the moment with House buyers USA…I am still scoping out the other companies though. At the moment I am in the process of registering a LLC and obtaining a USA bank account for easier transactions…etc. All going smoothly so far.
A bit more info about me…I am actually considered to be in the Low Income bracket… according to ABS… which means I earn less than 60K a year. I believe I will actually be earning less than 45-50K this financial year… However! My partner has taken on most of the financials and I am the saving/paying down loan guru.
I am planning on purchasing an investment property this year… by the end of the year hopefully. I don't own a house and have some money saved up.
I am putting this in so that people are aware that I Do not earn a lot of money, but i am still making moves towards my future… Will keep you posted, even though it may be a longer process.