Wappingers Falls, NY · Member since 2015 · 2 posts · 0 votes
Hi All!
We have a foreign investor who wants to invest in a flip project we are proposing. The investor also wants the property to be in their name. I'm not sure if this is a good idea because of all the laws involved like FIRPA.
Does anyone have any experience or advice? I have a consultation with a lawyer set up but also wanted the community's experience. Any advice welcome!
...We have a foreign investor who wants to invest in a flip project we are proposing. The investor also wants the property to be in their name. I'm not sure if this is a good idea because of all the laws involved like FIRPA...
It sounds like the investor is either trying to skirt around having any income he earns from the project being classified as "passive income" which can be taxed at the higher rate of 30% or maybe he just need more security/guarantee. What country is the investor from? Does it affect what you expected to earn for facilitating the rehab?