Buying in US

[WebBoard]

From: JustAMum B


Does anyone know of any restrictions for Australians buying in America?

JustAMum

 

[WebBoard]

Reply: 1
From: Tristan N




i am too thinking of buying in America, what i have heard so far is that you need to be a resident, or have family there.


people who say they can't normally get interrupted by those that are doing it

 

[WebBoard]

Reply: 2
From: Paul Guest


To the best of my knowledge, overseas investors have to purchase 'new' properties in the US.

.. then again there seems to be no shortage of movie stars purchasing existing houses - maybe they have some sort of residency status that enables those transactions to occur.

pg

 

[paulzag]

Reply: 2.1
From: Paul Zagoridis


This is where the "I think and I guess" can get people into trouble. So advice from an appropriately qualified source is important. That source is definitely not me.

Having said that I can register and own a company in the US and that company (C-corporation/LLP/LLC in preference to an S-corp) can own property in all states.

Paul Zag
Dreamspinner
Oz Film Biz is at
http://www.healey.com.au/~paulz

 

[WebBoard]

Reply: 2.1.1
From: H T


Ive just got one question - why an earth do you want to buy in a country (assuming you have got little idea of values) a million miles away. Whats wrong with the good old Aus..plenty of stuff here to get your teeth into.

HT

 

[Robert]

Reply: 2.1.1.1
From: Robert Forward


Um, my answer to that would be

CAUSE I CAN....

Why would I want to limit myself to just this small country. The world is an ever increasingly small place be a part of and to live in. What with the internet and ever faster flights, let alone cheaper airfares (wait until the double decker airbuses {they will seat 700-800 people compared to todays biggest plane of 350-400} start the long haul flights the prices of international travel will fall again).

Yes Australia is a great country and I could never argue with that fact, but we are only a very small country on the world scale for investing. If you could run your business (as that is what it would be) on an international scale why wouldn't you??

Cheers
Robert

 

[WebBoard]

Reply: 2.1.1.1.1
From: H T


cause i haven't got the dough to go trapesing off round the world looking at property in a place that i would never ever want to live in and would take me months and months to become an expert in anyway.
I can get in the car and go off down the road and do all the homework in some great spots in melbourne that I reckon will have it on the seppos.

 

[cathyb]

Reply: 2.1.1.2
From: Cathy Baxter




I'm in Canada at the moment and like the US the prices are great, the deals even better, the returns are heaps better (particularly in multi unit properties) and money is cheaper and there's some great capital growth areas. You can also holiday here to check out your property and use the expenses as a deduction.

If i had the cash, the time and the research complete I'd do it now, alas i fly home on Thursday. But i still do love Australia.

Cathy

 

[lawsjs]

Reply: 2.1.1.2.1
From: Jeremy Laws


Cos you SHOULD is the answer. Its not hard to do - you will need a reasonable downpayment (30-40%) and the returns are way better than anything in Oz. Dont rely on any shortcuts - zero down is next to impossible for non resident aliens, but slowly slowly one day the big multi's! Pay for you to go there 1st class as often as you would like (you get Discovery here and aside from that their TV is crappy, so I don't know why you would) You will instantly realise why written offers are so disgusting, but Havva good look. Thinks... another loopnet shopping list formulating in my mind...hmmmmm......

 

[WebBoard]

Reply: 2.1.1.2.1.1
From: JustAMum B


So has ANY ONE out there as an Australian, or a foreigner to the USA, brought in the USA?

Just A Mum

 

[lawsjs]

Reply: 2.1.1.2.1.1.1
From: Jeremy Laws


Yes