NEW: US Property Focus Group (Free to Join)

TAx certificate sales on their face do not wipe out the existing liens.. The fact is only a small % of tax certificate buyers end up owning the real estate. they either get paid off when tax's are brought current or no one redeems and they loose their money. It is the action of QUIETING title through the court system that does a couple things. It gives the tax cert owner title to the property, and it WIPES out all encumberances other than IRS liens.. All judgements Mortgages and any other creditor lein is extinguished with the recording of a quiet title deed rendered from the courts..     NOw in a tax sale state everything is wiped out at the sale other than IRS and the IRS only has 6 months to redeem and they have to give you your money back plus statutory interest..  I never let IRS leins scare me away I have only had the IRS step in one time and that is because we bought a 300k property for 3ok and the owner owed 60k in tax's we just paid her 60k in tax's and kept the property  still a great deal for us.

People said in usa lawsuits are very common. Would a foreign owner of a house deter the tenant from bringing on lawsuit since the owner is maybe from australia or new zealand since they have to bring their case to the another country?

Additionaly…

Being a foreigner if you were being sued or threatened just sell your property take your cash go home and you will never hear from them again… It takes months and years to go through the lawsuit process plenty of time to sell off and take your cash home where its safe…Someone gets a judgement against you lodges it in the country were the property was big deal nothing happens with it past that its worthless paper.. Plus tenants by and large have no money and attorney is not going to take it on the come… 

So for the average MUM and POP here that owns a house in he US  not to worry.

Use the LLC so you can get a checking account in the US… And the LLC does provide asset protection. However like I said lawsuits from tenants is far down the list of worries one would have.

Very hard for Foreighner to get loans in the US unless they are larger commercial type loans.. very hard for SFR's. Unless its a primary residence or second home.

Is there an Aussie Financial Institution that will lend to Invest in USA?

Hello to everyone in this US Property Focus Group.

As being involved in helping buyers for the past 4 years, I hope to be able to offer my two cents worth if I can help out.

One of the main issues I come across a lot ( and there are many ) is where and what to buy, how do I open a US Bank Account without having to go over there, and one of the most important ( and for may buyers the most frustrating ) is having professional Property Management in place.

And really, there is a lot of points to each of those questions, far more than space allow here, but one of the most important things to mention, is that never just go to a seminar and be taken in by sharp salespeople.

Do your homework, ask lots of questions, know about who you will be dealing with on the ground in the US, as they will be looking after your investment long after the initial sale is made, and your local seller is no longer in the picture.

Know what you are after, and make sure you always have a reserve of money available.

Whether you buy a ready to go Full Turnkey property, or get involved in getting it rehabbed ( renovated ) especially from a long distance. Using US Finance, as there are many different types of finance available, for different areas and property types, with all sorts of T & C attached.

Get to know the actual areas, and what you can expect in those areas, especially when buying at the cheaper end.

These are just the few.

I hope to be able to answer and contribute here.
Thanks

Jeff
US property Purchase

There are a number of people in the USA who can and will help without taking your shirt too. The economy is improving but many are not yet ready to buy or have been burnt and no longer wish to own so tenants are everywhere. Florida and in particular SW have great opportunities.

• This reply was modified 10 years, 2 months ago by  Judith Ottosen.

I can’t seem to find any groups in Australia who are actively investing in USA. Is nobody doing it?

Does anybody here know anything about Trust Deeds. Are they a safe investment? Anything I should be aware of?

I am back in Florida at present buying more deals and doing more forward planning. Market conditions are good however it is always important to do your due diligence. When it comes to the US your investing who you deal with on the ground will determine your success

We have been buying redeemable deeds in Indiana. First year turned into a bit of a disaster, one was redeemed so made a good return, the other we received the deed and started planning the rehab. One day our property manager went to the house and there was a “For Sale” sign out front!!! Turns out the house should never have been auctioned as it was in receivership. We are getting our money back from the county, but all the other gas, water and contractor fees and deposits, plus material purchased, well we are kind of kissing that good by!

There is a way round though as the contractor will be rolling over the material and deposit into the new rehab, for which we are currently awaiting the deed, plus another which is already rented, so not all lost!

We are now exploring Detroit… and before any one asks “WHY!!’… we are targeting very specific areas with strong communities, architectural history and a big push from the locals to rebuild. These will be rehab to rent.

Indiana I like, it is growing and has one of the better economies where individual states are concerned, we now have all our ‘people’ and I know the area after spending plenty of time driving around.

Detroit… well we will see. Heaps of due diligence and we are now comfortable about getting our feet wet.