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Anyone bought anything in the US? Care to share with us? Which state?
Thanks
Anyone bought anything in the US? Care to share with us? Which state?
Thanks
Yes, I did. San Francisco, California.
Visited a seminar last weekend for properties in Houston. A 6xx sf 1 bedroom unit selling only $40,000. Guaranteed rental yield of 8% for 2 years. Good?
Visited a seminar last weekend for properties in Houston. A 6xx sf 1 bedroom unit selling only $40,000. Guaranteed rental yield of 8% for 2 years. Good?
$40,000 sounds simply too good to be true...what is it? A foreclosure? Exactly how far is the apt from Houston proper? Building materials probably costs more than $40,000!!! Why should anyone offers such a deal? Even for a foreclosure? It is a time-share thing? It just does not seem right. And a 8% return, wow!
If it is a foreclosure, i would encourage you to really check up what you are getting yourself into before committing. A 8% yield may come with a 200% repair bill.....
If seminar offers you a $40,000 apt in San Francisco, let me know.......
Do you know how hot it can be in Houston? Hotter than Singapore.
Visited a seminar last weekend for properties in Houston. A 6xx sf 1 bedroom unit selling only $40,000. Guaranteed rental yield of 8% for 2 years. Good?
Short of a physical visit, I have spent a lot of time in US properties and own two small ones there.
A few quick ones to share:
1. check the taxes, including state and federal tax
2. must form a LLC to buy, preferably, one LLC for one property
3. check the home insurance price and the managing fee
4. check the crime situation, one street different could be a world difference
5. must be brisk houses
6. income tax is high
7. full cash, as no credit history
8. dun buy locally, as mark up is as high as at least 40%, and some are of very complicated deals
9. check whether it is in the natural disaster zone
10. rental is always very poor. employment situation
11. exchange risk
If ur serious in buying, fly over.
Location that u can buy : NY mid town, at Central Park area or madison areas
SanFra at Bay area.
I know a lot of other deals, like tax lien, and tax deed etc etc...my advice...dun get in.
still can share a lot, but above is good enough for most people
perhaps share one :
I attended the one by RXXX, I got the address of the property from the seminar, and google, same property, selling at 40% lower.
They always sell at a quantum that u will not fly over to check
Anyone bought anything in the US? Care to share with us? Which state?
Thanks
Use this web site for US property guide.
http://www.zillow.com/homes/for_sale/Tucson-AZ-85737/95073_rid/32.3978,-110.951217,32.387201,-110.980014_rect/15_zm/
This is where I stay from Mar 2002 till Dec 2005.
Bro thanks for sharing and this is a very good post for those thinking of investing in domiciles like USA with complicated tax structure. I reckon even London is more foreign investor friendly.
Don't forget their legal framework - as LL you need to maintain house such that tenant can't sue you for negligence.
Short of a physical visit, I have spent a lot of time in US properties and own two small ones there.
A few quick ones to share:
1. check the taxes, including state and federal tax
2. must form a LLC to buy, preferably, one LLC for one property
3. check the home insurance price and the managing fee
4. check the crime situation, one street different could be a world difference
5. must be brisk houses
6. income tax is high
7. full cash, as no credit history
8. dun buy locally, as mark up is as high as at least 40%, and some are of very complicated deals
9. check whether it is in the natural disaster zone
10. rental is always very poor. employment situation
11. exchange risk
If ur serious in buying, fly over.
Location that u can buy : NY mid town, at Central Park area or madison areas
SanFra at Bay area.
I know a lot of other deals, like tax lien, and tax deed etc etc...my advice...dun get in.
still can share a lot, but above is good enough for most people
perhaps share one :
I attended the one by RXXX, I got the address of the property from the seminar, and google, same property, selling at 40% lower.
They always sell at a quantum that u will not fly over to check
The ones I saw are completed development built in 1981, refurbished in 2008 and reroofed in 2012. Some are tenanted, some aren't. But seller still guarantee 8% for 2 years.
Taxes differ from State to State in US? Heard there are only income tax of about 10% applicable, and of course the capital gain tax of different % if sell within 1 year or after 1 year.
Witholding Tax can be easily written off if income tax is paid. (that's what the agent said)
Other costs involve management fee, etc.. but seller promise 8% nett.
But after 2 years how? Nightmare?
Houston is home to some of the world's biggest energy firms and the world's largest medical center.
phantom_opera
31-07-12, 14:06
http://www.usdebtclock.org/
How to Evict a Tenant Who Has Never Paid
[/URL]
(http://www.ehow.com/how_12141697_evict-tenant-never-paid.html)Eviction is the legal procedure to remove a tenant from the landlord’s property. A landlord can evict a tenant for breaking the terms of the lease or failing to pay rent. However, the landlord must follow the state’s procedure for evicting a tenant and cannot resort to self-help measures such as forcibly removing the tenant. If the landlord does not follow the state’s procedure, the landlord can be liable for damages to the tenant..........
Can You Evict a Tenant if He Refuses to Pay in Full?
[URL="http://www.ehow.com/info_12077516_can-evict-tenant-refuses-pay-full.html"]
(http://www.ehow.com/info_12077516_can-evict-tenant-refuses-pay-full.html)If a tenant does not pay all of his rent, you can evict him. However, in most cases, you can't just change the locks. You must follow a legal procedure for evicting your tenant, and that procedure differs from state to state. In addition, you have to be prepared for the fact that your tenant might fight back....................................
Landlords who rent their properties independently can find it difficult to get through Florida's eviction process. It can also cost an average of more than $400 in filing fees alone (as of 2011). There are several steps that a landlord must follow to legally evict a tenant for non payment of rent. Reclaim your property through the complex process of eviction
Laws vary state to state, too much hassle isn't it? Fly there to fight?:scared-5:
To get a SG lawyer to write to them also problem... Difficult to follow up..
The ones I saw are completed development built in 1981, refurbished in 2008 and reroofed in 2012. Some are tenanted, some aren't. But seller still guarantee 8% for 2 years.
Taxes differ from State to State in US? Heard there are only income tax of about 10% applicable, and of course the capital gain tax of different % if sell within 1 year or after 1 year.
Witholding Tax can be easily written off if income tax is paid. (that's what the agent said)
Other costs involve management fee, etc.. but seller promise 8% nett.
But after 2 years how? Nightmare?
Houston is home to some of the world's biggest energy firms and the world's largest medical center.
ok, I believe this is a multi-family home. I spent lots of time in this, and met some Amercian on these type of properties especially on Hoston.
the 8% been priced in alr....and who will pay u?
after tax or before tax...gross or net...
If u wish, u can PM me the details and perhaps I have some knowledge
The ones I saw are completed development built in 1981, refurbished in 2008 and reroofed in 2012. Some are tenanted, some aren't. But seller still guarantee 8% for 2 years.
Taxes differ from State to State in US? Heard there are only income tax of about 10% applicable, and of course the capital gain tax of different % if sell within 1 year or after 1 year.
Witholding Tax can be easily written off if income tax is paid. (that's what the agent said)
Other costs involve management fee, etc.. but seller promise 8% nett.
But after 2 years how? Nightmare?
Houston is home to some of the world's biggest energy firms and the world's largest medical center.
ok, I believe this is a multi-family home. I spent lots of time in this, and met some Amercian on these type of properties especially on Hoston.
the 8% been priced in alr....and who will pay u?
after tax or before tax...gross or net...
If u wish, u can PM me the details and perhaps I have some knowledge
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