Updated about 8 years ago on . Most recent reply
Foreign European Inheritance.
Hello everybody I hope everyone is doing well. I apologize in advance for the lengthy post. I have a few questions as I am new to the game but I have a basic understanding through this great site and finishing the Ultimate Beginners Guide to Real Estate Investing and I wanted some feedback on my strategy if that is ok. So I have inherited an apartment in the center of Rome, Italy a few years ago. I am waiting until end of 2019 to sell it because that is when the lease ends and it will be tenant free making it more valuable from my understanding. From my research of comparable sales and a real estate agent relative in Italy it is currently valued at about 320-350k. I live in Miami where I currently believe it is and will be for some time a sellers market. I am willing to relocate. My strategy is to find a multifamily unit that can use some repairs, nothing too crazy, to find a good deal, fix it, live in a unit ideally with a roommate and rent the other units out. I am looking to get my real estate license next year after I graduate so I can use the best tools to find properties. Does anybody have any experience in selling oversea properties and what that entails bringing the money here to the U.S? My father told me I have to do it in increments or I will be taxed heavily and thus prolonging my strategy. One question I have is I am not sure if it would be more worth it to use all cash on one multifamily or use my funds to put down payments on two or more multifamily units. Do I have my head on straight? Thank you everyone for your time.