All Forum Posts by: Andrew Beshara

@Chris Ramos - Thanks for your reply. I was actually referring to income taxes but your comments do provide perspective. @Sam Levin - Yes I am referring to income taxes. I realise it's a hard question to answer given that no 2 scenarios are alike. @Elijah Moore - Thank you Elijah but I will have to decline. I'm not in the market for units in Michigan. Currently just learning and wanting to develop relationships with investors in the US.

What is your US tax compliance costs as a percentage of the NOI of your portfolio? I ask because I figure that as a foreigner, investing in US property is not ideal from a cash flow perspective unless you're scaling with multiple properties. Can anyone add their views on these comments? What is the average cost for filing state and federal taxes for property held in an LLC?

Thanks Mick. I will be in touch. 

Hi all, Can some of you foreigners that have invested in the US tell me how you build your team or 'boots on the ground'? What was it that enabled you to decide that you could trust that that person has your best interest at heart? Thanks, Andrew

Hi all, Have any foreigners here invested in multifamily property in the US? I like the idea of scaling with multifamily however is it a good idea for a non resident? Thanks, Andrew

Good on you Sue Bishop for having a go!! That's one way to learn quickly - when you've got skin in the game.

As an accountant in Australia, I cannot recommend Xero highly enough. The clients I put onto Xero wish they'd been using it sooner. The main attraction with Xero is that it can automate recurring transactions via Bank Feeds. In Australia most types of bank accounts, credit cards and business loans can be linked to Xero. Mortgage accounts tend to be the exception. I don't know how compatible Xero is with US banking, but certainly worth looking into. There is also an add-on called Re-Leased that is used for property management. Re-Leased integrates with Xero so that the bookkeeping process is seamless. Might be worth looking into. Cheers Andrew

Hi all, I've been following real estate and reading up on the subject for a couple of years now. While I'm relatively new to US real estate, I'm sure the psychological/goal setting challenges US investors are much the same as an Australian investor. While I know I want to use the buy and hold strategy, I keep putting it off by prioritising professional goals first. There's just so much I think I want to do that nothing really sticks. Since coming across BP I've learned that US investors treat their activity more of a business rather than a passive investment (obviously depending on your strategy). So this raises the question of what would I rather scale - an accounting practice or a fix and flip strategy for example? I'm just struggling to find my most definite purpose. Do others get like this? How do you handle it? Thanks, Andrew

Thanks all. I have actually been listening to the podcasts for a little while now. Very informative and inspiring!! 

I'm excited to have found this forum. Lots of great resources and people to connect with. 

Cheers

Andrew

Hi all, I've joined this to expand on my real estate investing education. I'm not currently seeking to invest at this stage. However I do plan to in the future. Thanks, Andrew