All Forum Posts by: Iris Cruz

Hello @Les Edwards,

I hope you are well.

I'm also in Perth (and also an Accountant).

I'm happy to share with you what i have found so far and the people that i have connected ( who gave me great advise).

The markets mentioned by @James Wise are great, you will notice that some will have higher entry price than others but then it will depend on your budget.

Sure you will need a team and in regards to the loan, i would start preparing now (lodging past taxes and have those in order), then start establishing relationship with local banks.

Do not rush, do the things on your own time so you know where you getting into.

@Jordan Sinclair - great guy! who successfully built a team.

PM me and we can catch up for a coffee.

Take care and have a great weekend.

@Engelo Rumora  @Michael King

I could not agree more with the points you both made:

1- It is extremely difficult to manage from overseas and i believe that turnkey is the best option (unless you partner with someone on the ground who you can trust)

2- Loan = forget it. Work hard and save $

3- Visas can be complicated if you plan to stay

@Tae Kim once you decide your market, research for turnkey properties and ask around  the BP community for references etc.

Nothing is impossible but definitely it will take hard work and dedication, i think it just depends on how much do you want to put in.

Take care everyone. Long weekend in Australia :)

Oh good point Jordan. i wasn't aware of this one :)

@Tae Kim

Hí Tae

Where are you located? You might have some nice meetups there . Check it out.

In regards to the LLC, have you decided where to invest, how much and on what to invest ? If you haven't, I would hold off on the LLC.

I have changed my mind few times in regards to location and investment strategy until i finally set on something. Then, I’m now focusing exactly on what I think suitable for me.

Remember that in the US things are different from state to state etc .

for example, imagine if you buy turnkey home and the provider assists on LLC setup, et .

Just a thought because I was on the same boat as you and I was glad I didn’t spend the money setting up anything until I was sure on what I’m looking for 😃

One thing you can setup at any time is the bank account but needs to be on person (or power of attorney) and it doesn’t look like we will travel any time soon.

My suggestion:

Listen to podcasts - Biggerpockets is a great way to start and you can learn a lot of the terminology used in RE, read books on real estate investing from there you will start getting more and more curious.

Don’t jump on the same boat as others but act based on your knowledge and on what Is best for you.

People here are very willing to help, which is great .

@Tae Kim

I’m in watching mode, like many others.

I also don’t think there is a river of deals happening due to access to capital etc.

However, I’m taking this time to research and learn.

I’m reading books, listening to podcasts, doing online courses and webinars and most importantly, networking with the amazing people in this Group 😃

Seriously, I think I’m spending At the very least 2 hours a day doing RE stuff. I’m getting a bit ko-ko

I invest here in Australia but planning to invest in US this yeAr depending on how things go.

How about you? Where are you at?

Welcome Tae :)

Hmm good strategy.

If you get a good price future, why not selling and put on 1031 (I wish we had 1031 here, i think i will die holding properties in Australia just to avoid Capital Gains lol).

I'm just taking the time to study the market and attending to webinars much as I can.

I have been reading/ listening about syndication. Seems to be a good option for Aussies too.

Well, lets see what the future holds.

I will keep you posted on my progress.

@Michael King

Gday mate

Here not much of a decrease.

The market is holding up quite well and good deals are hard to find. Cash flow positive almost impossible.

Good to hear from you too! Things seem to be going alright for you.

I was planning to go to the US in July but I don’t think that Australia will open the boarders this year

Thanks for your help Mike.

Take care and talk soon 😃

@Michael King @david h. @Lindsay Stewart @Jordan Sinclair

Great posts here guys.

Crazy times.

Maybe it’s good to keep cash and see how things go ? However, if you have spare cash it might be some opportunities on the horizon. Nothing compared to 2008 I guess.

Finance is one thing that put us behind when buying in the US.

I hope you are all safe and well.

@Lindsay Stewart

Hi Lindsay

Sorry for my late reply.

We were looking at investing in Indianapolis but we will leave things in hold due to COVID19.

Crazy times.

I will certainly reach out when things settle.

I hope you are well.

Thanks

Íris