Hi flash

personally I wouldn’t be investing in Queenstown or Phoenix at the moment.

Unless your into some sort of development where you can get in and out quickly, certainly would be buying now for a buy and hold in those two cities.

Nothing against those places i love them both , and they are about as opposite as you can get.

Queenstown in the middle of mountains with a beautiful lake
Phoenix in the Middle of the desert and no water

Queenstown population about 10,000
Phoenix about 3,500,000

Queenstown limitied land to grow
Phoenix unlimited land to grow

But both have done very well historically thats why i think both are in need of a break.

actuallyi think both cities are already peaked certainly Queenstown lost value recently, and haven’t seen Phoenix’s data but its predicted to drop
regards westan

USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.au

Hi Guys

solomon things have changed a bit in the USA since sept 11 , getting bank accounts is certainly one area.

I don’t know how you can get a SS number – i’d love one ,it would be so handy but as Richard said you don’t need on for finance , you don’t even need a ITIN,

I have a number of US loans and no SS number.

the US based broker i use is excellent and i don’t pay any additional interest because i”m a foreigner. I’d love a SS number because then i could build a credit score, with a good credit score you can get 100% finace on some deals

regards westan

USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.au

Hi ellnbgn
as far as getting a bank finance, you will have no problems but best to approach a NZ bank directly. I lived in NZ in 2004-05 and have some excellent contacts if you want for Banking etc.
The only restrictions on buying property is large parcells of land

regards westan

USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.au

Solomon what state are you looking at ?

regards westan

USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.au

Hi Solomon

The questions you ask are very complicated to answer quicky on a forum. Firstly i’m not a Lawyer and i can only tell you what attorneys and others in the US have told me. You need to check if what i say is correct.

One of the reasons people promote Nevada is that it is veiwed that Nevada offers a higher degree of assett protection as the owners of the LLC can remain undisclosed – However if you follow Richards advice and transfer it after you have bought it then your name will be on the public record for all to see.

One reason why people like Delaware is a product called the series LLC, it offers many LLC’s for the price of One.

Then you have the option of the LLC in the state the property is in. This may prove to be the best. I was talking to a lawyer in New York over 15 months ago and he claimed that many of his New york clients were setting up Nevada based LLC’s but not registering them in the state of purchase and therefore were loosing the asset protection status of LLC’s (i don’t know if this is correct but he’s an attorney not me).

Ok so it also comes down to how many properties are you going to own as to how many LLC’sd you own. Some advisers are recommending a new LLC for each property, others think that is way over the top (i do also)

At the end of the day i’ve decided to set up a Texas LLC because thats where most of my US properties are and where my attorney is.

Oh and in regards to Richards comments about finance. The US based broker i use, Benny from West Houston Mortgage has access to banks that prefer an LLC so no need to go through the trouble of transfering after the purchase.

regards westan

USA deals, cash flow equity and capital growth all in one property.
International Property Consulting Pty/Ltd.
Property Investing New Zealand Ltd
http://www.iproperty.net.au

Hi all

i think the story highlight how careful you need to be in the US when investing.

I have a Cousin in LA and his wife works for Orange County in the building dept (not sure which one). I remember she says that its quite common for contractors to go a few great jobs build a a name then accept heaps of deposits for work and then vanish.

regrads westan

We find deals in the USA with growth potential, with equity and showing at least 14% gross returns. Email at [email protected],
http://www.iproperty.net.au

Hi C2

i have a friend (well he started as an investor with us now i call him a friend) down in Osaka, can i have permission to forward your post ?

He’s from Melbourne, must be very smart as he barracks for Richmond!

regards westan

We find deals in the USA with growth potential, with equity and showing at least 14% gross returns. Email at [email protected],
http://www.iproperty.net.au

Hi cliffman

i’ve been investing overseas for a number of years. You have to be realistic.

the first thing that would concern me is How can you sort out things in Bulgaria if you can’t speak the language ? You may have a good contact now who speaks the language but then you are always relying on someone else.

How can anyone say that the market is about to rise by 75% (estimate ) in one year ??

A lotof people promote growth in these areas but I have a friend who recenty went to Turkey to look at the market (he is turkish by background) he came home to Australia saying he couldn’t find attractive deals.
regards westan

We find deals in the USA with growth potential, with equity and showing at least 14% gross returns. Email at [email protected],
http://www.iproperty.net.au

Hi All

interesting topic.

I suppose so many years of growth has given us a feeling of invicibility.

Three years ago i was working in a high school and used to drive a 1983 commodre (till it died). One thing that shocked me was all the students (just turned 18) were driving better cars than me. Many in near new cars. We as adults aren’t much better, we are all being conned into spending up big, there has to be a pay day eventually.

Maybe its time for some good old fashioned if you can’t afford it don’t buy it. Gosh i’m only 41 and starting to sound like my Dad !!!

regards westan

We find deals in the USA with growth potential, with equity and showing at least 14% gross returns. Email at [email protected],
http://www.iproperty.net.au

Hi guys

thats one of the great things about the US there is just so much information available

we are so backward in australia

regards westan

We find deals in the USA with growth potential, with equity and showing at least 14% gross returns. Email at [email protected]