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Getting close to making a property purchase and need some advice/thoughts. We are getting a home line of credit which we plan on using for our purchasing. Is it better to get an interest only loan, or pay both the principal and interest? I am currently here in Canada and the rates are very...

Hi Locko24, We had applied and planned our move before I got interested in investing. However, along the way we did realise how much easier it would be to do from Canada. Canadians invest across the border all the time - I read somewhere that approx 23% of them own property in the US...

Having just moved to Canada from Melbourne, we approached the bank about a mortgage and were offered an amazing 2.3%. They have also extended us a line of credit on our home which they say they can fix at the same rate. It doesn't offer us an any real leverage of course, but it's a good...

Just moved from Aus to Canada 10 days ago. Opened up a bank account here in Toronto and they had the following available (under one account) - Canadian Savings Canadian Cheque US bank account They gave us a sheet of Canadian cheques, plus a sheet of US cheques to get us started and...

Heather, you mentioned it took 2 months to rent out. Was that because of repairs, or finding suitable tenants etc??

Handyandy - you raise a very valid point in your post. We are moving from Aus to Canada in approx 3 weeks and, whilst we could afford to purchase a home outright, we have been advised to take some kind of mortgage against the house, just so that there is an encumbrance on the home and avoid a...

Ok, I did a bit of research (refer comment #971 on earlier thread). Appears many of the spruikers buy properties for under $20K (sometimes as little as $14K) Reno for approx $5K (work usually carried out AFTER you've closed the deal) Sign you up for approx $4K excluding legal costs Sell to you...

Cashflow, the reason I put this example property out there on the forum was to try get to the bottom of why an Aussie company like 888usrealestate is advertising this property as fully restored for $49,800, whereas Zillow shows it as (quote) "This spacious 2 story home has a screened-in...

LOL lawsjs! I'm lining up my finances as I type (NOT!). Yes, I was wondering if they would only make the actual purchase upon registration/deposit from an interested party (read "sucker"). These guys are obviously not worried about tools such as Zillow that we can now use to give us honest...

Just had a look at another Aussie site (888usrealestate), similar to myUSA etc. I can't get my head around this one, so perhaps someone could explain? They have the following property listed for sale - 3940 E 68th St Kansas City MO 64132 for $49,880 which has been all tarted up, apparently...

Mandy - you go girl! :) Looking forward to hearing about it.

Lawsjs, do the banks not charge for this? I know that if we have money sent to Aus from overseas, the originating bank charges a fee for the transaction. In this case it would be the Prop Managers bank, which in turn would get passed on to you?

Bigfire, that seems like a really low yield. With many Aussie online banks offering up to 6.51% interest, that's only a little bit higher for the risk and hassle involved. I'm interested to find out why you were willing to accept such a low potential yield when we know the sweet spot we...

Emma, what is the commercial aspect like in Vegas? We're going to start investing in a couple of months once we move over to Canada and I was just musing about purchasing commercial property as well as family homes. Do you see a profit to be made in holding commercial stock in one's...

Fantastic Karina, that's great! Can you tell us how you are working your finances? Are you paying all cash or have you found a way to set up a mortgage for any property you buy? Thanks.

Hi Costa, in your earlier post you said you had rejected 2 applicants. On what basis did you reject them?

Lawsjs, it gets even better - the latest US census shows that there are 310,000,000 million who need to live somewhere :)

Hi Karina, well done for getting to Vegas and jumping in! When you say there is nothing available for you in your price range, is that because the prices have risen, or because Emma has bought them all? :)

Thanks Emma. Much of what you say is exactly why I'm not really keen on pursuing short sales at the moment and I have indicated this to the agent. After we move to Canada in a couple of months I plan to fly to Arizona and meet with this buyers agent as I want to be on the ground to see...

Here's an interesting situation. I have been looking at Arizona as one of the places I want to invest. Anyway, I made contact with a buyers agent via a Zillow listing I was interested in. Told him I was looking at 3/2 homes under $50K, preferably tenanted. In the last couple of days he has...