dhillon2 wrote:

@Sydney99- wow, that’s alot of questions. I’ll do my best. But I must say, your questions are very transactional in nature, which is a little too granular for me. I’ve got attorneys that handle the transactional side of things. My job is to make sure the deal underwrites, and then implementing the business plan. If you have questions of that nature I can be more useful.
Anyway, here it goes-
1) To open up a US bank account you gotta essentially do it in person in the US. Unless you’re an HSBC Premier customer. I’ve got a third method that involves a personal contact of mine, but I have to get to know you first :)
2) Yeah I guess.
3) It depends on your strategy- what kind of asset protection and structures you want in place. But from a purely transactional perspective, no, you do not NEED to setup an LLC first.
4) LLC’s are state based. Accordingly the rules governing each are different. This is beyond my scope.
5) You can source property yourself or you could pay someone to do it for you. Within each category there’s a whole constellation of service providers at all different prices ranges, depending on how much work you want to do and how much you want to pay.
6) Yes, you can get a building inspector to do that.
7) I deal with Commercial property (Apartment buildings) attorneys essentially draw up all the documents.
8) Direct this question to an attorney
9) In Commercial property, its whatever agreement you can come to between you and the seller.
10) No
11) I use wire transfers
12) Yes
13) In my experience, everything is electronic, then when you close you get a very very thick
wad of papers.
14) You are missing many steps. Get in touch with an attorney you trust. If you need help in this, I can refer you to people I’ve used.
Hope that helps Sydney99 :)

@dhillon2, Thanks for answering most of the questions.
Can you please refer people you have used.
business plan – Can you please explain more on this? is it similar to having a goal to reach income and having a plan to achieve or something different? always Love to learn new stuff

Thanks Catalyst for the detailed information. Will you help out Renovation projects in Hunter area 

HI Matt,

Thanks for posting this…i am looking for similar tool just for investors….

Contacted lots of Agents and Company's if they can provide me the access to gain this  important information but no one has given me the solution or if they have provided then the solution was expensive

hope you got a sweet deal and we all can share the costs

Cheers,

Raj

HI hrv7, if you are in any capital city, you should be able to go and listen to the local property groups…you will gain lot of valuable information.

geeta9, will stick to tight budget and look for properties around 300k in western sydney. 

Pyrmont – Sydney CBD

Watching Brisbane Suburbs…..