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Foreigners Buying in the USA

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Vivian Viv
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Foreigner on work visa investing in fix and flips

Vivian Viv
Posted Dec 1 2018, 18:47

Hi everyone! I am a foreign national in the US on valid work visa looking to do some fix and flips. I do have ssn and several years of credit history so financing is less of a concern to me at the moment. However, based on some communications with my immigration lawyer the nature of fix and flips involves some degree of conducting business which would be a violation of my visa status (which allows me to only work for my current employer).

So I am trying to come up with a plan to start the investments without breaching any immigration restrictions. One way I'm thing about is forming an LLC with another person who can run the day to day business while I act as a passive owner/investor. Does anyone have similar experience and can shed some lights on this?

If this is doable, does this person has to be a US citizen or physically be in the US? And does that mean my personal info (ssn, credit, bank account etc) cannot be used to acquire the property since it would be considered I'm "actively" running the business? 

Any sort of inputs are very much appreciated! Thank you!

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