Forum Replies Created
- Kimberly wrote:Anyone else currently in Miami investing? About to head over in 2 weeks' time.
I’m always keen to network with fellow investors, so I’m putting my hand up! 2 heads are better than one.
By the way this forum is great for unbiased, real info on all things Miami: http://forums.miamibeach411.com/forum.php
“An Australian Citigroup subsidiary, Citibank, has now started to facilitate loan transactions for Australians looking to purchase US property.” http://www.abc.net.au/pm/content/2012/s3480532.htm. This appears to be a new initiative. Perhaps contact Citigroup to see if they are planning to expand their services in the near future to include India, seeing we have so many Indian expats living in Australia?
…and I would agree with your observations about Miami bureaucratic matters..
Thanks for the update Steve! I’ve been following your updates religiously since 2010 and it’s great to hear you’ve settled here and are still investing.
Got it. Very shady indeed.
The thing is if you don’t put your property in your LLC’s name then the tenant can sue you, so this is a must for asset protection. The bad guys sell duds that they know quite well are in ghetto areas, at an inflated price
Or are you saying they sold their LLC’s with the assets being the “income-producing” properties?
lawsjs wrote:Along with Speedy I would be very interested to know if Andrew Allen is legally able to work in the US. He is basing himself there, surely he has a green card or residency to allow this.What qualifications does he hold to sell RE or securities there or, for that matter in Aus?
Additionally – who taxes the income from the money he earns whilst based in Orlando and clearly making $Aus from $Aus clients.. IRS? ATO?
Interesting questions…..
One last point. Given the resources of the ABC were unable to get a comment from Mr Alllen despite repeated requests over a number of months, I think the journalists at the Warrnambool Standard deserve extra special mention for locating and getting a comment from him in so short a time frame. Job well done boys! (or girls)!
If you invest >100k you may qualify for a treaty investment visa (E2) which allows you to live and work in the USA managing your company. Anyone selling someone else’s RE must have a license, but people can and do sell their own properties without a license all the time.
Because the US is such a litigious society you are less likely to find properties promising a certain % return pitched to Americans, as this would be akin to committing legal suicide!
speedy gonzales wrote:According to the article in "The Standard"………http://www.standard.net.au/news/local/news/general/former-southwest-man-denies-shonky-us-housing-deals/2534442.aspx?storypage=1The MyUSA Property website features the following disclaimer (although I couldn't check as the site has come down): “There are a number of factors investors must take into consideration when buying in the USA as it is very different to the Australia property market. Investors must consider the areas, property type, vacancy rates, socio economic demographics and future potential of the market before purchasing.”
Isn't this the very reason why investors paid them all the fee's etc ? They claimed they were a buyers agent so wouldn't it have been fair to assume that these guys had considered all of this and done their homework on their properties before flogging them off to their victims ??
WELL SAID!
aussieinvestor wrote:Hi BB and allIt's great that we can share in other's experiences with our investing. I have just returned from the USA myself and have been astounded yet again at the opportunities, although this trip was more about catching up with my USA contacts to get ready to go again! 2011 will be year 6 for me in the US and probably the best yet and as in 2005, I will be glad to join in the information sharing through PropertyInvesting.com
One of the common threads I find in reading the posts in this forum is the lack of a common place or one-stop-shop for all of the information needed to invest in the US. There are plenty of threads with information scattered all around the site.
I may be able to help this and you guys help me at the same time as I am currently undertaking a course in Internet Marketing and, with your permission, I seek your assistance in creating a free e-book for participants in this forum.
In the project I will need to cover all of the aspects involved in investing in the US, many of which I will provide from my own experiences, as well as seek information from the experts both from within Australia and in the US.
The benefits for me will be the opportunity to conduct my first ever survey and write my first e-book, not for profit but to get the experience and complete this project as part of the course. The benefit for you will be to have your questions answered and have a single reference book for whatever purpose you wish to use it.
A survey page with two questions has been set up at http://www.surveymonkey.com/s/C3K32QF and I would really appreciate it if you could assist.
Please feel free to ask any questions.
Thanks for your help.
Have a look at http://www.deangraziosi.com. Although he is a “TV infomercial guy” there is a lot of good resources and good forums where people share.
