white_goodman wrote:
say you can find financing for a property but they will only finance in your personal name.. can you transfer the property into an LLC after this? or does it cos a big tax headache as the loan then isnt a business deductible expense? (its still in the personal name)

ASSUMING you are able to find US financing in your own…[Read more]

Fishface – Scott,…"What made you go the LLC path and are you happy with your decision."  … The $64 question  and the winner is …… I will let you know in 20 years after I have retired and all the taxation (IRS and ATO) hassles vs paperwork and compliance are forgotten as I twiddle my thumbs by the beach…….or in the local insane asylum !…[Read more]

Hi Steve and "fishface"I cannot offer any answers but hoping someone else can…I was heading down the SMSF creation path in 2010 and was keen on the Australian federal NRAS scheme using SMSF but came across challenges with ANZ and other lenders so have "parked" the idea at this point.In the mean time we investigated the US property market and…[Read more]

[/quote]so say i buy a property in Vegas, get a Nevada LLC.. 2 years later I decide to get one in New York in which i put into a NY LLC, can i then get a holding LLC to group all my LLC's?[/quote] White-Goodman,You can change the membership of the LLC from being yourself and other "people" to being another legal entity such as another LLC or a…[Read more]

Treasure Hunter wrote:

Marthamel wrote:
JamesAlso, the way Wyoming and Nevada laws are written, the way compensation can be accessed is more difficult for the complainant, and protects you that way too.

Hi Marthamel, As far as you know, is Nevada and/or Wyoming the best place for setting up an LLC for an individual (as opposed to multiple…[Read more]

Hi British Buyer and other avid thread followers,You may have seen this "documentary" posted on You Tube regarding the Foreclosure Realtor process How to Buy a Bank-Owned Home  Sums up some of Steve's experiences nicely,

hi Maree,Do you have access to equity in other property such as your home or other investment property that is not fully leveraged?You may save on fees / hassles by using the BYOB concept (be your own bank).   This will require the same Bare Trust set up for the non-recourse loan within a SMSF but you provide th funds via an arms length loan to t…[Read more]

FYI for guys with strata property in South Australia.Proposed changes to the strata management act in 2011 with public comment closing on December 24, 2010.I have started a new topic in the Legal forum  https://www.propertyinvesting.com/forums/getting-technical/legal-accounting/4334696regards,TassieJH

British Buyer,You can't leave Miami yet  ….. it would be like Horatio leaving CSI …. but seriously folks  we have all gained a lot of US knowledge from your post and the dedication to the thread/journey.I am sure other will agree that we would like to continue "reading the story" and stay tuned for more episodes on MIAMI (…[Read more]

Very philosophical guys…and interesting.But back at the main topic of MIAMI ad(VICE) Steve how is this week progressing for on the quest for a SFH to inhabit with the family?The tales of intrigue and skulduggery have at sitting close to our LCD screens waiting for the next episodeKeep up the great posts.Tassie

Zita wrote:
Thank you to Steve & Pat for your prompt responses!Re: HSBC Bank types. After speaking in person to a Bank representative, he stated that The Premier Account does require $200,000 deposit, however I will follow this up. If perhaps it was required as an inital deposit and then later withdrawled, then your advice to then downgrade the…[Read more]

Hi Luke,I have started using the services of Cutillo of Grange Road,   Flinders Park.Investor friendly    

Hi Martha,I think you are in the "right place" but this is very much a start of a journey as yo have probably read in some other posts.  (an interesting read here Miami (ad)VICE )Suggest you put together some concepts as to the size and location of the intended "deal" that will enable others to scope the opportunity.  You will then get some fe…[Read more]

I went to the one day session in Adelaide on Monday and can recommend this "freebie". It would be great to hear from someone who has attended her 3 day courses or better yet – a US student.I am interested in the 3 day event but a challenge with travel to Brisbane and child care.TassieJH

Hi Steve,Great dialogue and insight from "the average punters perspective".  Most of us reading your travels are probably owners of a few properties in our home country but the hurdles and different practices we are all seeing / reading / experiencing with regard to the US as a country and the individual states is mind blowing.  In Australia we h…[Read more]

ambosh wrote:
Robert Are you saying you can elect for a different year end in the US?  This would be really helpful, rather than needing to do your tax return financial summaries twice a year!ThanksJosh

Josh,some IRS info here for Rentals came across this futher detail specifically for rental property. "Topic 414 – Rental Income and…[Read more]

jeff2tract wrote:
Hi Archanic, I just joined today, If you would like there details I would be happy to email them to you

Jeff2tract,I would be interested in making contact with your accountants for some services.Please open your profile up to accept email contact.thanks, TassieJH

Archnic wrote:
Hi all, hope you can help.Nickps. On a different note, for those reading this post because they're trying to work out USA tax, just as I am, this is a great place to start – it got me up to the questions I'm asking now:  http://www.irs.gov/businesses/small/international/article/0,,id=96477,00.html

Investigated the link supplied…[Read more]

Onebiggumby,I have received your email but no phone number to call you on or ability to reply via your forum profile.Please enable private email contact via the forum or contact me via the contact mail with a phone number.  regards,TassieJH

RJB wrote:
Hi,A little bit of track – and maybe a silly question – but do you need to set up a bank account for a trust? I have just purchased a property in the name of my trust but don't have a separate account for it… Shoud I…?Thanks,RJB

RJB,Suggest you clarify with your accountant very soon as you will not be able to demonstrate…[Read more]