All Forum Posts by: Laurence K.

I have an Ohio LLC (single member-disregarded entity) that is 100% owned by a Wyoming LLC (single member - disregarded entity) that is 100% owned by an Australian Discretionary Trust.

I am of the understanding that the Australian Trust is considered a Grantor Trust by the USA and that any taxes due from my Ohio LLC are passed down the line, first to my Wyoming LLC, then to my Australian Trust, and then to the Grantor of the trust.

The Australian trust has as its trustee an Australian company (Corporate Trustee).

I am the sole director of the Corporate Trustee.

The beneficiaries of the trust are my my wife & I, our adult children, grandchildren & any as yet unborn heirs.

So my question is

WHO IS THE GRANTOR ?????

@Aziz Mansaray

No, it’s not your money. If you were to use it that is considered theft.

Many states require that it’s held in separate bank accounts that aren’t commingled with other business finances.

@Michael King . Great idea for a thread, I’m sure there are quite a few Aussies on this site.

I started investing in the USA in 2014 . So far I have acquired 12 doors in Ohio. All have been purchased 100% with cash. I have found a few finance possibilities but they have been unpalatable in terms of interest rate and points.

I’m happy to answer any questions anyone has.

@Rachel Chavez

I’m a long distance investor from Australia.

I seriously considered Florida as a state to invest in, the 2 things that made me decide against it were flood insurance and roof replacements. I was informed that hotter climates needed their roofs changed every 5 years or so compared to colder climates.

In the end I decided on Ohio.

@Jeffrey Masessa

Investopedia is a great dictionary of investment terms.

Just work your way through each one that you don’t understand.

After a while you’ll know tham all.

@Vince Lucas I'm not just out of state, but out of country. I have 12 units scattered through northern Ohio. The very first one was bought with the guidance of other people experienced in the local area, it has been my worst performer. The rest I did a lot of thorough in depth research from macro through to micro on a whole range of different metrics to find the best properties. These have been far more successful.

This link might help you.

https://www.cmha.net/hcvp/rentdetermination

I have an apartment building in an area like you're referring to. If you're easily stressed, highly strung or a worrier then it's probably not for you. You will encounter drugs, crime, non payment, unauthorised move ins, etc. If you can handle those things in your stride then there's good money to be made at relatively low entry points. One of the best things I did was install security cameras.

You can't just raise rents, the CMHA have to approve any increases. Normally they have a fairly inflexible rate they offer depending on sq ft, br's and ba's. These amounts are on their website. The amount they pay is always below market.

I bought my system from SCW (Security Camera Warehouse), their service has been great and their products decent quality and very reliable. Reliability is important for me as I'm an out of country landlord.