Wait a while AUD is soon going to be 1.1 USD or even 1.5 in coming 2 years.. Better have a mansion then, AUD rules

Could I interest the gentleman in a small water craft perhaps? I'll offer an excellent guaranteed yield over the coming summer.

Was working at a company here on the Gold Coast recently. They sell US investment properties and have an add on their shop window 'From $40,000' ... dunno if US or AU but does it currently matter!

I was there for the day all I heard being spouted over the phone to prospective clients was how "everyone is doin it cos of the current exchange rate"

Must admit, phones didn't stop all day!!

Did the name above the door say Rio Rancho?

http://www.youtube.com/watch?v=TROhlThs9qY

What you get for your $40k is a week annually at your time share. You never own the property, you only have a "spot" on the annual roster of people who use the property.

It might have been the same mob who set up tents at expos and ekkas in brisvegas floggin' USA property. Looked right dodgy think it was more 400k than 40K.

One of the OZ property magazines, right back in the recession, had aussies jumping up and down, after finding out they were liable for the previous mortages/taxes on the property. One born every minute I guess

It's not just US property they're pimping. I heard recently about Aussies buying up property in Fiji because domestic market was out of reach. Anyone from Ireland will remember the various overseas property agencies there during the boom. Bulgaria was one particularly interesting destination. Cheap as chips, never mind the fact that you'd never ever want to holiday there!

That's OK if you actually want to (and can) inhabit those places but if it's to be an investment, you either need prices to rise significantly or to get a rental income. LV is quite a rough and poor town, and bits of Florida are pretty bad too. More importantly, they've both had property markets that had huge bubble speculation in the last decade without the actual inward migration, jobs and amenities that actually create a rental market.

You don't have to travel to the US to buy US property.

TBF, plenty of people did buy places in Bulgaria and Romania so they could go there every year and have done well out of it. But plenty of people bought houses in odd locations around Europe assuming that Ryanair would always fly there for peanuts, the house would always increase in value and they would always want to go there. That's not how it's worked out for a lot of people.

Taking the annual two weeks summer vacation in Sunny Beach or Varna is my own idea of a personal hell. I don't understand the holiday home mindset but I should of course be tolerant of it.

Thank you for your tips and I will definitely consider them. I wouldn't proceed without enough research anyway. In fact I have not even decided yet because obviously I don't have enough info at all.

There should be good opportunities over there, but hunting those opportunities is the problem.

You mean like in 1974

Could it soon be back where it started ? in the 1970's, after spending the last 28 years under 1 USD to the AUD.

Year USD for each AUD
1972 1.1905
1973 1.4085
1974 1.4286
1975 1.2987
1976 1.2195
1977 1.1111
1978 1.1494
1979 1.1236
1980 1.1364
1981 1.1494
1982 1.0101

2009 0.7813
2010 0.9951

Another thing that BARDI77 should be aware of is the trap of currency changes.

Several years ago I had a property in the US: when I sold it (to move to Australia) it had made a modest capital gain, on which I had to pay US capital gains tax.

However, because the pound had changed in dollar value I actually repatriated less money than I had spent buying the place: I paid a tax on what (to me) was a loss.

Just be careful!

I'm currently in the US and the property market @ the moment is in the dumps with no sign of recovey in sight. i predict this is going to take a while: You really could afford to buy a decent property with that amount believe it or not.Would be a good investment if you are willing to wait a long while for gains

Nope!

Started watching link but can't do 7 mins worth, sorry.

What parts of the US ? Good worthwhile areas ?