About Far and Wide Real Estate
Diana and Wayne started Far and Wide Real Estate really out of the frustration they felt when they started to look at purchasing property in the United States.
They went and saw various speakers and seminars and spoke to numerous property mentors.
The one thing in common all of these had was that they showed you how to purchase property in the United States.
What most of did not do however, was show you how best to do this if you are an Australian citizen with no US Social Security Number (SSN).
And let me tell you, as Diana and Wayne found out, there is world of difference between a US citizen buying property and what an Australian citizen needs to do.
Simple things like:
- What is the best structure for an Australian to set up in the United States. What works for US Citizens does not always work for foreigners.
- How to operate bank accounts.
- How to transfer money between the United States and Australia.
- How the US taxation system works with the Australian taxation system.
- How to properly protect your assets both in the United States and Australia.
And when you found someone to talk about that could give some advice, it was often conflicting with other advice. Sometimes from the same source!
As Diana and Wayne were committed to property investing in the United States, they set about learning as much as possible about all aspects of the investing process for Australians.
What surprised Wayne was even with his background as a fully qualified chartered accountant and his experience in accounting, taxation, review of legal contracts and business structures, it took him a lot of time and effort to fully understand the issues.
If Wayne was struggling, how would others with a different background cope?
Probably by getting it wrong and either paying more taxation than they needed to, and / or exposing themselves and their Australian assets to potential legal claims in the United States.
Not a good place to be.
So Far and Wide Real Estate was born out of a desire to make it easier for other Australians to purchase property the right way in the United States.
Why re-invest the wheel? Take away the frustration that Diana and Wayne went through and do it right first time.
When you deal with Far and Wide Real Estate, You are getting a turnkey investment property solution specifically for Australians investing in the United States.
Yes, your turnkey investment property solution includes an investment grade US property. This property could be a single or multi family home, or even a commercial property. The choice is yours.
But that is just the start.
Far and Wide Real Estate works with you to determine the best ownership structure for you considering both your Australian assets and liabilities and your US investing plans. What works for one person will not be the same for another person. Far and Wide Real Estate will work with you to get this structure in place.
Once the structure is in place, Far and Wide Real Estate will help you set up the various income tax requirements you need in the US. Whether it is an EIN (a bit like our ABN in Australia) or an ITIN (like your tax file number in Australia). Far and Wide Real Estate will then make sure you are connected with appropriate US tax agent to make sure your US tax returns are lodged timely and accurately.
Far and Wide Real Estate will then assist with any funds transfers and opening and operating bank or escrow accounts so if you want to you can access the cash from your US investment property.
So that is one area where Far and Wide Real Estate is different. We provide you with the best structure to purchase your investment property and the tools and resources to manage your risk and compliance.
The other area where Far and Wide Real Estate is different is with your investment grade US property.
To start with this investment grade US property will need to generate a positive cash flow to the Australian investor in excess of our benchmark the rate of return for that location. Note the benchmark rate of return will vary depending on location as areas with higher projected capital growth may have lower rates of return.
But just buying the property is not enough. Chances are that to make the property more likely to be tenanted, there will need to be some repairs and or renovation / rehab required. Far and Wide Real Estate will manage that process using fully licenced contractors. Work will usually be completed prior to you acquiring the property so you have no risk of project over runs.
Far and Wide Real Estate will then appoint a property manager on your behalf and find a tenant for you. In most cases you property will be tenanted prior to you acquiring the property. So you know beforehand what the rental is.
Far and Wide Real Estate will also have insurance brokers in place who will make sure that the property is properly insured prior to you acquiring the property.
So with Far and Wide Real Estate, you can rest assured you are getting a turnkey investment property solution specifically for Australians investing in the United States.
Want to be notified when our next property is ready for sale?
Diana and Wayne Wanders
Far and Wide Real Estate
diana@farandwiderealestate.com
wayne@farandwiderealestate.com