Forum Replies Created
Personally, since couldn't get finance as an LLC and they are Single family homes. Hold for the long term 10-15 years.
Thanks Kyle
Hi Cheeves Financial,
Thanks so much for your assistance. If you were to purchase in the Tampa area specifically which suburb would you focus on, ones which have stable underlying fundamentals such as jobs, population growth forecasts etc.
I guess the problem I am grappling with at the moment, made worse being from the other side of the world, is narrowing Tampa down to one suburb or micro area where the underlying fundamentals are supportive of actually finding a tenant and also supportive of capital appreciation.
Also, actually since you have your offices in Fort Myer's which suburb would you recommend to invest in for an investor who wants to find an investment property that is close to jobs, transport, schools etc.
Also, what specific services does your office provide? I would be very keen to have a "person on the ground"!Thanks so much.
Hi ActToday,
Any particular reason why you choose Fort Myers?
Are you able to recommend a realtor in the area?
Would love it if you were able to share some information so that hopefully I can avoid some of the pitfalls that befall a foreign investor, especially since it is so different.
Cheers,
Hi Cheeves, thank you very much. I can tell you have a strong property knowledge base and I appreciate your advice!
One thing which raises alarm bells for me is the fact that the case shiller index in the tampa area is still decreasing, although this is a 2 month lagged index, it appears to be one of the few areas which hasn't hit bottom yet and bounced off trough levels. However, I have time on my side and will be looking to actually make the purchase in 3-6 months thus I am not overly troubled by this.
Have you heard of any areas in particular which have forecast strong capital growth?
Or even if you were to buy a rental property where would you purchase?
I have noticed that inventory levels have come down dramatically in Tampa as well, albeit the decline depends upon which measure of inventory is used.
What is the name of your company's offices? I will be coming over there in late Jan-Early Feb.Many thanks,
Hi Jeff,
Reasoning behind investing in the US is to take a counter cyclical approach, take advantage of the overvalued AUD and the incredibly low interest rates and I have a long term horizon so I can handle the more volatile and risky investments in areas such as Tampa Bay, Miami etc…… Tampa Bay in particular because it has some of the best leverage to an improving US economic outlook ie it's unemployment rate is at 13% whereas it used to be for an extended period of time in the 4-5% range and lower.
Chris, appreciate your support! I will keep you updated on my progress…….and if you happen to speak to your uni mate would be stoked to hear his perspective specifically on the best and nicest areas to invest in Tampa Bay!
Hi Jeff,
I am very interested in how the taxation situations works as I am in Sydney also.
Does rental income have any effect on Australian taxes you pay?
Are you able to claim any tax deductions in Australia from having an investment property in the US?
How did you structure the purchase with regards to taxation implications? Did you set up a LLC?
Any further clarity regarding the taxation issues would be greatly appreciated as the more research I do the more varied and confusing it seems to become.Many thanks,
Stuart
