All Topics / Legal & Accounting / setting up a team

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  • Profile photo of jcls79jcls79
    Member
    @jcls79
    Join Date: 2004
    Post Count: 88
    April 10, 2005 - 7:01 am

    I am contemplating investing in the USA, just before I venture into that side of the universe, I was wondering whether any fellow forumites can recommend some reliable accountants that understand Australians investing in +ve cashflow properties in USA. What I learned from recent seminar is to set up a LLC per property and have a C Corp that takes care of tax issues whilst my Australian hybrid trust will take care of capital gains tax. I am open to contacting people in the states but anybody in Australia will be preferred.

    In addition, I am also looking for real estate attorneys that are willing to work with Australian purchasing properties in USA, also names of insurance brokers that offer competitive home and contents insurance and rent protection insurnace?

    I shall be heading off to USA in the next couple of months once I have set up a team, which allow me to search for deals..

    thanks for reading this thread

    Cheers
    john

    Want to join financial independence before 31 years old, currently 25

    Profile photo of GeoffBeckGeoffBeck
    Member
    @geoffbeck
    Join Date: 2003
    Post Count: 95
    April 10, 2005 - 7:33 am

    Hi John,
    I have done a lot of research on USA property investing over the last 4 months and the one accounting firm who has the best knowledge on Australians investing in USA properties is Active Financial Answers (they have a web page), I use them. I take it the seminar you attended is the ones held at the Carton Crests last week? If so then you should be familiar with them as they are the ones who was giving the advice.

    Regarding attorneys, I have only dealt with Christopher Minienis in the states, drop Westan a message and he can direct you to the best. I’m not in the position to give out details as I don’t what to tread on Westans feet, Westan has the best knowledge and contacts references relating to the USA.

    Cheers
    GeoffB

    Profile photo of LookLook
    Member
    @look
    Join Date: 2005
    Post Count: 1
    April 15, 2005 - 4:53 am

    I have two property investments in the US at the last 2 years. The main advantages of the US investments are positive cash flow and fixed interest mortgage for 30 years or so (exactly the same payment every month for the whole life of the loan).

    Not many US tax accountants in Australia but I managed to found one in a reasonable price.
    Dont build too large team or you will have to pay them all your profit.

    Good Luck.

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