hi im a 26 year old from perth. my goal it to get enough property over the us, over the next so many years to try to get a rental income of 100k plus . i work 2 days 2 nights 4 days off in the mines and i also sell realestate on my days off .i have done good in the share market and have 100 grand witch i will put into US property and i am selling 2 properties of mine witch will give me about 70 grand so all up 170k plus . ive been to the US 2 times for holidays now and i will be hoping to get over there mid year to start buying . im trying to do all my home work before i get there .ive been reading ebooks website doing study on property . i have a few questions if people could help me with .
LLC how do i set one up and how many properties is best to have in each .
is there other set ups witch would be better to buy through ???
is there anywhere that will lend finance at low interest rates with a 50% deposit ????
ive herd of vendor finance over there is this common??
how do c corps work ??
i also have a SMSF i am interested in buyin a property through that ??
ive been looking into pheonix AZ what are others thoughts on there ???
are houses better or units to buy for rental ???
is it better to buy a few 3ok properties or buy 2 100k properties
anyone got any good property managment ???
what are the steps to do before i fly over mid year so im ready ????
and any other info i could grab .
my email is [email protected]I too like Brent and interested in investing in the USA, have similar questions. Have a SMSF being set up now as well as personal cash to invest if the returns are genuine.
Any help getting started would be appreciated.
Paullie wrote:I too like Brent and interested in investing in the USA, have similar questions. Have a SMSF being set up now as well as personal cash to invest if the returns are genuine.Any help getting started would be appreciated.
Guys this board is full of some good people that are investing in the USA from Australia, as well as some USA teams that deal with International clients.
I am Located in Charlotte NC . So I can give you information about Charlotte and Atlanta markets . I can answer questions, about other markets.This would be limited knowledge as I only invest in the two markets mentioned above. Look forward to answering some of those questions you would have.
If you are going to invest in the United States make sure that the people you are dealing with are on the ground and not just dealing with a wholesale company. For instance I deal in Texas and work with someone on he ground who has been doing deals for at least 5 years. In other words before the GFC. That means that all the back end services such as property management and maintenance are covered. Plus we have these deals under contract they have been assessed and the titles checked. If you are going to do this over in the states ask for proof of what they are doing and importantly who they are dealing with.
Nigel Kibel | Property Know How
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Nigel Kibel wrote:If you are going to invest in the United States make sure that the people you are dealing with are on the ground and not just dealing with a wholesale company. For instance I deal in Texas and work with someone on he ground who has been doing deals for at least 5 years. In other words before the GFC. That means that all the back end services such as property management and maintenance are covered. Plus we have these deals under contract they have been assessed and the titles checked. If you are going to do this over in the states ask for proof of what they are doing and importantly who they are dealing with.Some good advice in their.I would however take it a step further .Now this is just my preference but do the resellers or teams,. actually own any properties in those areas. Now if they are just reselling with a team from the area. That to me ,we be just as bad . I would think if these markets are so good. We would be seeing them keeping some one sell deals. or trying to buy now them selves. For example ,we own properties in the same market we sell. The second market we are pulling out. This is basically a decision based on the underlying factors of real estate. We can travel there but we have to rely on a team.Sure good teams but at the end of the day. It is hard to find people that understand all aspects of real estate.
From buying , selling , rehabbing, cash lending, property management . So for me , when a team can do all those things in a certain market. That would make me feel a little better about investing in those areas. Though I would make sure to make a trip to the market I wanted to invest in .If coming to the states I would check out at least 3 markets if not more.Sure I am asking alot of you. Then again if this was my financial future I would ask more.
Sincerely
Alex
We keep quite a few deals. The guy I deal with owns nearly 30 properties which are similar deals to what we promote.
Nigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone MeWe have just launched a new website join our membership today
Nigel Kibel wrote:We keep quite a few deals. The guy I deal with owns nearly 30 properties which are similar deals to what we promote.Nigel that is awesome. You are getting the best of both worlds. Solid investment game plan their.
Good for you. Hope you did not take that the wrong way. Most last statement was meant for all to read not directly at you or any one else…
Alex
Alex SC wrote:Now this is just my preference but do the resellers or teams,. actually own any properties in those areas. Now if they are just reselling with a team from the area. That to me ,we be just as bad . I would think if these markets are so good. We would be seeing them keeping some one sell deals.I think this is a great point and I strongly agree.
I just got back from taking a tour group to Phoenix for a week. For various reasons we surprised our local sourcing partner with late notice that we had a much bigger group coming than they expected. This was only 2 weeks out from year end (which is also financial year end in the US) and they’d been letting their inventory run down for tax reasons, so we wouldn’t have had enough properties available for our members.
Although the short notice was entirely our fault (long story), the owners of our sourcing partner added about 15 properties from their personal portfolios to the inventory offered to our group – which really helped us out of a jam. These were properties that they’d rented out and been holding for 12 to 18 months, which is reassuring for an Australian thinking of buying them. And they set the sell prices at their usual cost + standard percentage margin, even though the market has moved up in the last year, so some of our members got especially good deals!
As you say: good to see the people doing the sourcing participating in the market themselves.
Cheers,
KenSydneyBiz wrote:Alex SC wrote:Now this is just my preference but do the resellers or teams,. actually own any properties in those areas. Now if they are just reselling with a team from the area. That to me ,we be just as bad . I would think if these markets are so good. We would be seeing them keeping some one sell deals.I think this is a great point and I strongly agree. I just got back from taking a tour group to Phoenix for a week. For various reasons we surprised our local sourcing partner with late notice that we had a much bigger group coming than they expected. This was only 2 weeks out from year end (which is also financial year end in the US) and they'd been letting their inventory run down for tax reasons, so we wouldn't have had enough properties available for our members. Although the short notice was entirely our fault (long story), the owners of our sourcing partner added about 15 properties from their personal portfolios to the inventory offered to our group – which really helped us out of a jam. These were properties that they'd rented out and been holding for 12 to 18 months, which is reassuring for an Australian thinking of buying them. And they set the sell prices at their usual cost + standard percentage margin, even though the market has moved up in the last year, so some of our members got especially good deals! As you say: good to see the people doing the sourcing participating in the market themselves. Cheers, Ken
Ken
That's awesome to hear. I am sure he hated to let those deals go. Glad he was able to fill the orders. That is the nature of the beast in this business. Some times you can be cash rich other times house riches. Again good to hear though…
Alex
brent.spooner wrote:hi im a 26 year old from perth. my goal it to get enough property over the us, over the next so many years to try to get a rental income of 100k plus . i work 2 days 2 nights 4 days off in the mines and i also sell realestate on my days offHi Brent,
One of our members who came on the tour to Phoenix last week is also a real estate agent from Perth, though some years older than you. He bought his first couple of US properties on the tour and has said he’s planning to buy another 10 or so this year. Given your interest in that city I can introduce you to him if you like?
Cheers,
KenCheers for the posts . Sydneybiz could you send me a email with details of this other guy from perth I would love to contact him
My email is [email protected]
hey guys, wondering if there was any contacts in perth that would know contacts in americia for investing
He Brent,
You can certainly use your SMSF to buy property in the US which I've done with my super. For our American poster colleagues, 401K is equivalent to Super Fund. There are financial planner that can assist you setting up your SMSF, typically the fee is between $1600 to $2600.
Given the market condition in the US, to have control of your investment, it is far safe to buy single family house rather than units but it doesn't mean you cannot buy them…they are plentiful.
With regards, to two or three properties. This question is entirely depend on your strategy. I know some investors here in this forum are buying good quality home for 60K per property, a strategy. My strategy is maximizing my cash flow so I buy established properties, spent good money renovating them to manufacture my CG…therefore I can have multiple stream of income rather than one or two including multiple properties available for refinance once finance becomes available in Atlanta.
Email me in this forum and i'll recommend you to my PM who owns his company and manage properties both local and foreigners.
I used a buyer's agent when I bought my properties but have access to his entire team (e.g., realtors, attorney etc, the whole nine yards).
Good luck
DHCP wrote:He Brent,You can certainly use your SMSF to buy property in the US which I've done with my super. ………………………………………………………………………………………………………..Good luck
Hi DHCP,
what was the set up you used for the SMSF investment? Did you use C-Corp or LLC to hold your US investment properties?
I am also keen to go down this path with a straight forward cash purchase for our SMSF, however read conflicting things when entertaining the US entity.Keen to hear your experience.
Hey Karl I’m from Bunbury I’m looking in the to buy in the Us aswell . My email is [email protected]
Or Facebook .
http://m.facebook.com/#!/brentspooner?__user=567299819Guys alot of comments here good stuff. My company was buying and selling in Atlanta now pulling our team out of Atlanta. Still a good market. Rather just concentrate on Atlanta I just think if you are betting on financing that could be a tough play until it happens. We have been working with some different groups to be able to provide the international client with financing. What I am seeing is some limitations but there is some options in the works. ( hopefully soon )
If any one should is making a trip to the states , more then happy to show you around the Charlotte area if you choose to come here . Just some advice for the markets here in the USA. Alot of great markets and great teams here in the USA. Just make sure to visit a few of those markets and get an idea of USA real estate. I am heading to Australia for 10 days ,and just not enough time to see everything. Same for the USA make sure to give your self enough time to spend in each market you decide to invest in.
Alex
DHCP wrote:He Brent,You can certainly use your SMSF to buy property in the US which I've done with my super. For our American poster colleagues, 401K is equivalent to Super Fund. There are financial planner that can assist you setting up your SMSF, typically the fee is between $1600 to $2600.
Given the market condition in the US, to have control of your investment, it is far safe to buy single family house rather than units but it doesn't mean you cannot buy them…they are plentiful.
With regards, to two or three properties. This question is entirely depend on your strategy. I know some investors here in this forum are buying good quality home for 60K per property, a strategy. My strategy is maximizing my cash flow so I buy established properties, spent good money renovating them to manufacture my CG…therefore I can have multiple stream of income rather than one or two including multiple properties available for refinance once finance becomes available in Atlanta.
Email me in this forum and i'll recommend you to my PM who owns his company and manage properties both local and foreigners.
I used a buyer's agent when I bought my properties but have access to his entire team (e.g., realtors, attorney etc, the whole nine yards).
Good luck
401k that makes sense now . Here in the USA after the real estate , and wall street cash .We call 401 k now 201 K since most lost half if not more of their funds. Just a joke.
Thanks for clearing that up for us.Was confused on super fund
Alex
Michael 888 wrote:DHCP wrote:He Brent,You can certainly use your SMSF to buy property in the US which I've done with my super. ………………………………………………………………………………………………………..Good luck
Hi DHCP,
what was the set up you used for the SMSF investment? Did you use C-Corp or LLC to hold your US investment properties?
I am also keen to go down this path with a straight forward cash purchase for our SMSF, however read conflicting things when entertaining the US entity.Keen to hear your experience.
So how does it work, you require a C-Corp/LLC in the USA? Are the custodians directosr of this?
It’s a lot of information on this Forum about property in the US. Just go through the forums and you will have most of your answers regarding LLC, locations and possible finance.
Basically you need a LLC (easy to set up), a bank account and a representative(or whatever you want to call it) in order to get all the communications. But get your own research done before you start making contacts.
I think that the main problem is to contact a good property manager in which you can trust, as it’s not easy to maintain a house from Australia and even if you have a good deal when you buy the property; a good management it’s the only way you can get a good return and make the business viable.
I’m also doing some research and will buy properties this year. I’m in WAMosqui
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