RG 010 – Transferring Money into the U.S. to Purchase Real Estate with Stephen Hughes from A.F.E.X
In case you missed it, here are some of the highlights from our conversation with Stephens Hughes from AFEX:
- Over 10 years experience in international foreign exchange markets;
- Head of Private Clients and Partnerships for AFEX Global Payment and Risk Management Solutions;
- Loves trivia and is the host of two trivia nights at The Light Brigade Hotel in Paddington, & The New Brighton Hotel in Manly, Sydney Australia;
Nuts and Bolts:
Getting money into the U.S. to help purchase real estate investments:
- AFEX assists investors with the trade of foreign currency exchange and the management of foreign income from investment (ie: real estate investments)
- There was a need for Stephen to join the Sydney AFEX to help Aussie’s buy international real estate, and facilitate the transfer of money in to the currency of the country where the property is located;
- How does it work?
- Firstly, open a free AFEX account (no obligations to actually transfer any money)
- Secondly, transfer money to the AFEX account (domestic transfer)
- Third once money is sitting in the AFEX account (still in the currency of origin) lock in an exchange rate with AFEX
- The money is ready to be sent to the U.S.
- Once the money is in the U.S. AFEX will wire your U.S. dollars to whatever account you need; it might be a close of escrow account, bank account etc. in the same day!
- Your money is ready to rock n roll, close the deal. Very Simple!
- AFEX requires the money come from an investor’s own account, or any account linked to the investors (i.e.: a business account).
- Money has to be transparent; needs to show its source.
- There is no minimum amount required to be transferred/invested in the U.S. to use the AFEX system.
- In reverse you can use the same steps as above.
- AFEX account in the U.S. can receive rental income from your investment property, or the proceeds from a recent sale; AFEX can act like a U.S. bank account!
Contact Information for Stephen and his team: