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The issue with getting a green card from my understanding is you will need to declare all other overseas income, this means Australian income. Been advised not to do this
I am not an accountant but I would not want to be in this situation. IRS are buzzards to deal with.

As a foreigner still been able to invest in US, anyone can as long as you have cash, unlike Australia we have many restrictions on foreign investors.

Loans - this is where we are disadvantaged we can not access conventional loans as US citizens, however as foreigners we can access equity loans as mentioned before. Once you build a portfolio of properties then refinance, if that's what you want to do.

 

Wouldn't you want to reduce the number of properties so your time is managed more efficiently ?
Given the choice of managing 4 or 5 vs 1 I would choose 1 ...not unless you enjoy management ?

 

I assume she rejected it ?
The last thing I would want is to be a us citizens and be tracked around the world to pay your tax on worldwide income.
Different story with being a temporary tax resident within Australia and be taxed only in the country where income is earnt .That's hitting the jackpot !

 

yes MTR you are right again best not to be a US citizen ...not wonder you are doing so well you always do your homework ...we all have a lot to catch up to you

 

Nope she took it, lived there for 7+ years and loved every minute of it!

 

Hi Beano, Yes - Property Management has become our "business" now.
Started off Passive but today it is totally Active.
Given that we manage 85 properties which are in our portfolio, and are growing our portfolio organically with the income from rents adding to the accumulation process, don't see this slowing down unless we exit the US market. (which is not in our strategic horizon for the next several years atleast)

 

I take my hat off to you!
Eighty five (85) is a lot to manage ...and i know it.
I assume you do not have a day job too ?
I have compacted a lot of tenancies to reduce the administration while still maintaining the same rental.

 

Thanks mate,
Yes ideally it would be great to deal with 1 tenant rather than a 50 for the same rent amount.

LOL, but that ain't happening unless one is in Commercial property (with super low ROI % yields compared to Resi).

 

Is 6.4pc net yield super low ?
One tenant paying over $1m pa
It has happened i do know that
And there will not be a vacancy in our lifetime

 

Hi @Beano, is that 6.4% NNN or ROI?
Also depends on your tenancy - is it a Class A tenant...

Something like this is very attractive to funds:
A 67,000 sq feet shopping centre for 3.9 million with 9.20% yields
With Anchor tenants as Dollar Tree and Save A Lot
(both would be considered B+ class tenancies)



Or if you move up the value chain with the tenancy, this would be considered very attractive to funds:

 

What would be the situation with something like this: https://www.zillow.com/miami-fl/

Old house in Miami asking $260,000 aud. Why so cheap in one of the most famous cities in the world?

@MTR

 

Not researched this market

There are 50 States, many different price points, its also dependent on location, size of the home, condition of the home etc. you can get cheap as chips and multi million dollar properties in same State but different locations/neighbourhood.




MTR

 

I might as well move to Miami and buy a house, live near Will Smith’s hang out (if it was entirely my money I’d look into it). There must be some crazy land taxes though. Maybe 10,000 usd a year to hold. Or it’s in ghetto with frequent shootings. Still can’t be any worse than Sunshine, vic where this house would cost 500-600k.

 

You can find out what taxes are on zillow, you pay county taxes which is similar to our rates in oz

I am envious how cheap housing can be, dependent on State

In US they are shocked at house prices in Oz

 

Well Paul Manafort will not be happy being a US citizen for every minute from now when he does his time in Sing Sing
Now if he was an Australian temporary tax resident he could earnt all he likes overseas and still work for Trump

'Humiliated and ashamed': Paul Manafort, former Trump campaign chairman, sentenced to nearly 4 years in prison