All Forum Posts by: Kim Porciuncula

Thanks much Jay,

Aussie Aussie Aussie hehe

G'Day Kim,

Welcome to the wonderful world of investing in US property hehe.

I just exchanged a few emails with the Australian Property Investor Magazine and they'll be writing a few articles about my experiences here so that should be out sometime in April 🙏

These fella's are your "Go to" for anything and everything Detroit.

@Drew Sygit and Michael Symthe.

I'm just the neighbor in "Little Detroit" called Toledo hehe.

Feel free to message me with any questions and I'd be happy to assist.

All the best 🙏

@Engelo Rumora   I HIGHLY recommend you Talk to Engelo he is from Aussie land and is quite famous on the Aussie version of Bigger Pockets thats how I met him in 2012 or so.. he has been investing and rehabbing in US for 12 years now very successful at it and a NO BS kind of guy.. He knows that area well and that would be my first stop .

Secondly there were some pretty bad actors selling US props to Aussies back in 2011 to about 2016 when the exchange rate was so favorable to Aussie dollar.. but so man Aussies got totally ripped off paying 2X 3X 5X over the actual values of the properties..  its not as rampant these days . And that happened because in AU in those days most folks from AU did not realize how much FREE information is available in the US on line about real estate .. this information did not or does not Exist in AU so they were easy marks.

The other big issue is they did not realize that returns in the US totally correlate to the risks involved.

@Michael Smythe   I believe Michael posts a really good explanation on asset class's and what you can expect. so between him and Engelo you should be able to navigate this safely .   Engelo for what AU folks should look for and expect.. Micheal for deep dive into staying safe in Detroit.

Lastly Detroit like many other markets the prices and returns are directly correlated to the RISK of losing your money.. you go for the very highest returns your taking huge risks being out of country. 

@Kim Porciuncula we manage almost 700 doors, around 100 of them S8 and have clients from 11 different countries.

You'll probably also need assistance with setting up an ITIN, Michigan LLC, corresponding EIN and opening a USA bank account - we have a tax attorney that can handle all that.

PM us for additional assistance.