Rental Property Investor · The Woodlands TX · Member since 2017 · 34 posts · 8 votes
Hello,
I am an investor who wants to find his first deal in the United States this year, more specific in Texas. I have experience in rental properties in Mexico, but the terms of the mortgage loans are very different. I want to learn how to finance my deals as a foreign national. I do not pretend to change my residence to the US, so I already ordered the book "Long-Distance Real Estate Investing" by David Greene as recommended in the podcast #257. Looking for anything that would help me to achieve my goals. Thanks!
I am an investor who wants to find his first deal in the United States this year, more specific in Texas. I have experience in rental properties in Mexico, but the terms of the mortgage loans are very different. I want to learn how to finance my deals as a foreign national. I do not pretend to change my residence to the US, so I already ordered the book "Long-Distance Real Estate Investing" by David Greene as recommended in the podcast #257. Looking for anything that would help me to achieve my goals. Thanks!
When I work with Canadians buying in Texas and Arizona I caution them to know the tax implications on both sides of the boarder so there are no surprises. I would expect you would want to talk to a tax guy in Mexico to make sure you don't get double taxed. Also, my understanding is that Mexico has a yearly fee that Americans must pay or they lose the property. That isn't the case here, but property taxes can be expensive, especially in Texas so keep an eye on that. You want to look into "Title Insurance" and "Homeowner's Insurance" and you should have the closings done by an attorney or Escrow company. And, thank you for doing it legally. Non residents can buy property in the US with little to no problem.
Attorney · Dallas, TX · Member since 2016 · 5k+ posts · 2k+ votes
8y
Pretty good start in what I see here. My foreign clients run most matters through a POA for property management, taxed as US entity and keep the profits here to grow a safe haven in the US for eventual use for kids or later retirement, etc.