How to find out about the safe and walkable neighourghs

www.homefacts.com . Also you may talk to the local police station. www.walkscore.com

Prepartion for the trip

In order to make the most of the time spend in the USA its important to have a few issues sorted before getting there. Some things like opening a bank account and setting up the EIN etc are compulsory while in the US, so while not start looking at .. Where are you going to stay? some of the good wepgaes where you can get this info are www.airbnb.com www.craigslist.com This is important to be able to have an address as soon as you are there and avoid wasting valuable time looking for a place. The longer the stay the better the price so its important to take into consideration to make the whole stay in one place rather than arriving in one place and move to another afterwords. Phone card. I was considering creditind to a skype account and using this to make phone calls but I wont be able to be accessible 24 7 so I look at the following options.. Another option, for while in the US, as these don't work outside of the US,is to get a pre-pay cell/mobile SIM card, it can provide a much cheaper option for incoming and outgoing calls. Some companies now offer a 1-year expiration if you put $100 of credit on your phone. Opening a USA Bank Account: You can open a bank account, even though you may not be a permanent resident of the USA. It is recommended to choose one of the larger banks, that has wire transfer facilities, on-line banking and can offer property investor loans, etc. JP Morgan Chase Bank could be one of the options. With them all you need is ato go to one of their branches with a passport and proof of address. And then from the main accounts be able to send out US dollar checks directly to pay bills and taxes, without having the waiting time sending checks from the the other side of the world. The problem is most of us don't have ITINs. Once you get this with your first tax return, your wiring will be easier. So while you wait for an ITIN, the key is getting in with a good retail bank manager. Establish yourself in with someone. Sure some companies can set you up with a bank account but being able to use the account is key! Address in the USA: The property title can be registered in a foreign address, along with insurances and other registrations. Although you may find having a USA address is just more convenient, especially when using US web site registration forms. As they may only allow USA addresses to be entered. If you have a Limited Liability Company (LLC) then your Registered Agent will need a US mailing address. Getting a US Mailbox There are companies that will provide you with a US mailing address and then forward your mail to you on a regular basis. Make sure your mailbox company offers a street address and not a PO box, as banks and certain mail order companies won't accept a PO box address. Most mailbox companies will take delivery of packages also and then forward them on to you. The UPS Store its one of the options.

How to select a Realtor in the US - Questions to ask.

In order to find a good Realtor to help you with the property acquisition you must first find out if the Realtor is a buyers Agent then: 1) To have them set you up on automatic MLS listings 2) Ask them: - if they have an in-house property management system and at what percentage of gross rents - what do they charge to lease a property in the first place? - Do they charge a renewal fee (ie if your tenant renews their lease and extends for an extra year) - Are they familiar with the nuances to dealing with foreigners - Do they charge to wire the funds back to you in another country? (It might be better to leave the funds in the Property Management company and have them wire even if it costs you $25 a quarter, This can be cheaper than US bank fees. - do they have contractors that they can recommend for repairs and what is their rate sheet if they have one. 3) Make sure you have built into your property management agreement that you have 6 monthly inspections conducted, that you MUST be consulted for any repairs over $200 (always ask for receipts!) 4) Are they familiar with dealing with foreign investors - there are a MILLION nuances to this. 5) They need to know your proof of funds MUST match the name you are holding title - if this is a Pty Ltd, you will be needing certified copies of the constitution most likely 6) You operate on a different time zone - can they ensure that even in rushed closings they will give you at least 5 days for money transfers if you are using Oz Forex etc 7) Are they patient enough to explain what HUD means and other terminology means? 8) Is the attorney that they use to close with, familiar with us problem foreignerss. You need to be receiving your Power of Attorney to have the real estate agent or someone physically in the US to be at closing for you. That needs to be mailed a minimum of 10 days before the closing date. 9) How many REO (essentially foreclosures) have they dealt with and at what price level. 10) For every property that you see that you like - ASK FOR THE GEOJET REPORT of neighborhood sales (who owns the houses next door, how much did they pay for it etc) - obviously rental comps, sold comps - historical data, neighborhood demographics etc.

The begining of a long journey...

After researching about properties in the US for over a year, I had made up my mind to buy a property in Atlanta. This was changed by an investor I talked to a couple of months ago who put the idea of buying in Atlanta really down. His arguments where that there is very high vacancy rate, low class of tenant for the type of property I could afford. Instead he suggested to buy in Florida. I have been doing some research and I am looking at buying either in Miami or in Ft Myers/Coral Coast. But time its slowly running out as we are planning to fly to the US late next month...

Inspection Period

During that one month period you are supposed to have the property checked out physically and legally (by doing a title search to check there are no outstanding liens against the property). Liens can include the following: 1.IF money is owed by the property since the old owner didn't pay his property tax or his HOA fees. 2. If lawsuits against the property since the old owner had renovations done, but didn't pay the renovation company 3. fines against the property because the person did illegal alterations that violated the building code

How to find out how much taxes you will pay on your property:

If you want to find the most recent assessed price for any property in Miami (ie. the amount of property tax you'll pay) go to this government website: http://gisims2.miamidade.gov/MyHome/propmap.asp

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