Buying Property in the USA

[The Great Gold Guru]

PS ... If you are going to invest in property in USA ... buy a gold mine, or the next best thing .... a dairy farm !! ... not a condo in a decaying city like Buffalo.

Better buying a dairy farm in NZ .... even at $50,000 / ha. , the USD is TOAST !!!!!!

Disc: Own a share in 8 dairy farms in Canterbury

[George]

Melbourne prices soaring, along with the stockmarket - will NZ and Aus be different to the USA or is there usually a lag???

http://www.theage.com.au/news/Busine...941379124.html

[JBmurc]

yes kw i was thinking that I hope noboby jumped in when this blog 2007 was first posted.

Yet aussies/kiwi's keep pushing up local property to stupid levels ...If I had the spare cash I would certainly be looking to buy a investment property in the USA people still need a roof over their heads if the yields are good and the area has good capital gain potential etc ...I like the idea of buying a property that could return the full price of the purchase price in well under 10 years

when I do have the cash able to invest 50-60k NZD(40-50k USD) I'd be looking at dealing with the likes of the below company that does all the complex work needed shown in link below....

Fact is you can buy a large 5bdrm well built family home returning upwards 20% gross yield with round a tenth of the money your'd need to buy an average Auckland house returning much less

http://toprentalreturnsusa.com/our-service.asp

[Dej]

Anyone looked any further into this?

[Okebw]

They can secure me interest rates for a 10-30 year mortgage of 6-7%.

That's a pretty poor interest rate as far as the U.S is concerned.
The average 30 year rate is about 4.2% with shorter terms having correspondingly lower rates.

http://www.bankrate.com/national-mortgage-rates/

[Okebw]

My bad sorry. I assumed you either already had citizenship or were intending to get it.

[NSW Guy]

But you do have to be in the USA personally to start a company and to open up bank accounts.... but this can be done in a week.
Rates get lower the more you loan and if your loan is less than 60% of the value of the property. I was thinking of buying with cash anyway.

Actually, no. You can open up a company remotely without being in the US.

You can also open up a bank account remotely, but it is difficult. The challenges are obtaining an ITIN (International Tax ID Number) and also proving your identity to the bank when you can't visit a branch. While it is possible to do both with out visiting the US (via the assistance of US authorised personel) most people just end up visiting the US to do the deed. That is what I did.

[Slam dunk]

Hi guys, my wife is a US citizen but we live in NZ. We want to buy property in NZ. Could we take out a mortgage with a US bank to fund this? (Their interest rates are much better than NZ)

[fungus pudding]

Hi guys, my wife is a US citizen but we live in NZ. We want to buy property in NZ. Could we take out a mortgage with a US bank to fund this? (Their interest rates are much better than NZ)

Of course you can as long as the lender agrees, and they almost certainly will.

[Slam dunk]

Of course you can as long as the lender agrees, and they almost certainly will.

Thanks Fungus!