All Forum Posts by: Dallin D. Hutchinson

I wish investing here in Australia was an option.  The returns are too slim on flips for my liking, especially when you're putting down $500,000+ for a junker home an hour plus out of Sydney, sell it for $600,000, only to have $90,000 chewed up in contractor and local government costs.  Not to mention, the housing market is hyper-inflated.  Property here in greater Sydney is between USD$480-$620 a square foot.  Buy and hold is out of the question too.  There is no such thing as being positive geared anywhere in greater metropolitan Australia.

Let me know how you go.  I'm trying to shift gears into MF as well.  Although, my circumstances are a little bit different. 

Utah is a tough market where you need to be intimately involved in particular towns or even neighborhoods to understand the dynamics of what is driving the RE market there.  What is your strategy?  MF? SF? Flips? Commercial?

This is exactly the conversation I have been looking for!  I am originally from Kaysville, Utah.  But I have been living in Australia on four separate occasions since 1999.  This latest time around is likely to be more long-term to permanent.  So I have been spending a lot of time on the BiggerPockets podcast, exploring ways I could keep my head in the game and still maintain my 9-5 from 8,500 miles away.

Right now I have two SFH's in Kaysville, and in fact in the same neighborhood, thankfully. The first home I bought in 2012, and the second just this last April when we were home for a visit. For anybody wondering, we bought house No. 1 while we were here. It's not impossible, depending on the country your in. Just a little more difficult. If you're non-military and off a base like I was, you need to first find out if the country you're in is a signatory of the Hague Apostille Member Countries. That way you'll be able to get your documents notarized. Otherwise, you'll need to pay a visit to the nearest U.S. Embassy or Consulate.

Anyways, back on topic.  I am looking for ways to scale my RE business, while being here in the Land of Oz.  I've done a cash-out refi on house No. 1 and now have $150K to put to work elsewhere.  I am very keen on getting into the multifamily side of things.  I'd love hear more on how the rest of you have been able to really scale things while being so far away.  My goal is to get things to the stage where I can come back to the US and not have to work about getting a 9-5.  Thoughts fellow Pocketeers? 

How to find deals: My experience, wait until the shoulder season and look for FSBO's in areas you are intimately familiar with. When the selling season goes into dormancy, I've found a lot of deals on KSL or just driving through the neighborhoods you're familiar with.

Long Distance Management: I am originally from Kaysville, in Davis County, but I work for the LDS Church in Sydney, Australia.  Thanks to modern technology, we've been able to successfully manage our properties in Utah without worry.  The secret is vetting out your tenants like you're recruiting for the FBI or CIA.  Just don't be too selective.  Everyone has a reason they are renting.

So I couldn't really find any specific forum for this.  I am looking for some good, inexpensive software, or even a spreadsheet I can use to manage my rental property incomes and expenses.  I am looking for something that could also be easily deciphered come tax time.  My accountant is giving me hell for the way I manage things right now.  And with additional properties now on the books, I am afraid he's going to shoot me if I don't find something good.  Thoughts?