All Forum Posts by: Brenda Harper

@Antonio Cerqueira Could you please provide me with additional information?   Rent rolls, tax bills, leases, etc?

Is this property still available?

Hi @Clay Smith.  Could you please send me the details on your other properties please?

[email protected]

Hello If this is still available could you please send me the details at [email protected]?

Thanks,

Brenda

Is this property still available?

@Bill Exeter Thank you for your input and expertise.

@Steve Lawson Thank you. I am sure you will be hearing from us in the future!

@Shawn Holsapple Great to hear someone that has some experience working with Aussies.  

@David Short Hi David the property address is 14048 Wimbledon Way, Fishers.  In the Pulte Avalon development.

@Account Closed Hi Vincent.  Fortunately, we are renting here.  We never bought property for the affordability reason (the prices reminded me of the US prior to the crisis and have made me very wary) plus we like the flexibility that renting gives us right now.  Real estate prices are out of control here.  For what we would pay for a 3BR/1Bath home here in our suburb (most suburbs), I can buy at least 3 or 4 properties in Indy.  Also the rents are calculated differently for considerably less returns.  Most people invest in property and negatively gear the property as they are can realise huge tax savings. 

Example a 3BR/1Bath home would sell for $400,000 and rent for approximately 400 per week....which equates to $1734/month!   And that is a Brisbane suburb.  Sydney and Melbourne prices are higher yet.  

And the have heard talk of a property bubble here ever since we arrived in 2009. Appreciate the heads up but our thought is: we can obtain much better performing property in the US at a fraction of the cost and the returns will be in US dollars, so for us it is a win/win. If the market here does something similar to the US in 2008, then we will definitely reevaluate our position. Who knows maybe we will end up with REI properties in the US and Australia?

Cheers,

Brenda

Thank you all for your replies!

@David Short What type properties and in which areas?  Could you give me some examples? I would be interested in chatting more.

@Ben W.  The property would CF about $230 when rented.  Our rent is competitive and in a new development.  I think it may be the time of year and that their are a few rentals currently available in this area.  Maybe we need to drop the rent to at least get someone into the TH.  I will need to investigate this more.

Cheers,

Brenda Harper

Hello,

I am relatively new to the forums though I have been lurking (reading and listening) for a few months now.  BP is an amazing website and thank you to all who offer their wisdom and experience so that the rest of us can learn!

My husband and I lived in the Indy area prior to relocating to Australia in 2009 (we both have US citizenship) and decided that since we know the Indy area (mostly suburbs, not so great on the city itself) and we have a trusted contact that is doing PM for us, we would start here.  We are not averse to looking into investing in other cities with recommendations  from BP members and after doing our due diligence.

Our plan is to buy and hold and generate a target income of $10K/month in CF over the next 10 years for our retirement.

We purchased a TH in Fishers in July while we were in the US and I wish we would have found this site prior to that purchase( (buyers remorse).

I believe the following have been our mistake and would welcome any feedback:

1. We purchased a property for retail (149k)

2. We put down 70k 

3. We purchase at the mid/end of the season and it still has not rented

4. HOA fees are crazy at 220/month

My questions are

1. Would you sell the property and then take the proceeds and do a 1031 exchange and use that money to purchase 2 or more rental properties? (buying much wiser this time)  I there a timeframe fro doing a 1031 exchange?  and can i sell one property and and buy more than one with the proceeds (not really proceeds, as I know we will end up taking a fairly large loss on our cash, not including our expenses for the last 6 months) 

2. Would you get a HELOC to purchase another property?

3, Would you leave it and save up cash (in about 1 year) to use for a down payment for another rental?

I know that 1 and 2 are probably the preferred and would speed up our plan as it would allow us to acquire more property, sooner than number 3.

As you can see and we have learned through the forums and podcasts, that we have made just about every rookie mistake in REI.

Ah well nowhere to go but up, now.

I look forward to your comments and questions.

Cheers,

Brenda Harper

Please go to https://americansabroad.org/issues/taxation/us-tax...

to see explanations on filing a US tax return even if you do not have any US income.  There is also a requirement to file a FBAR (foreign bank account report) for ANY foreign bank account that holds over $10,000 anytime over the year http://www.nolo.com/legal-encyclopedia/irs-reporti...

There are heavy penalties for not filing.   We have filed each year for the last 6 (since we moved to Aus) and have not been required to pay any US taxes, in fact usually end up with a tax credit.

Cheers,

Brenda

Hi Peter,

My husband and I have dual citizenship as well.  We have an excellent accountant in Indiana that has filed our taxes since we moved here in 2009.  PM and I will be happy to provide you with his details.

Cheers,

Brenda