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Foreigners Buying in the USA

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Ian MacLean
  • Investor
  • Grand Cayman, Cayman Islands
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19
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Foreigners - how to receive rent

Ian MacLean
  • Investor
  • Grand Cayman, Cayman Islands
Posted Jan 27 2020, 08:51

I have recently placed a tenant in a unit I've purchased. I have an American Bank account, but I am a foreigner living in another country.

Does anyone know how I can receive the rent from my managing agent?

 - I cannot use Venmo / Zelle / Cash app from outside the US

- I obviously cannot cash a check

Is there anyway to receive rent without having to wire it and pay exorbitant fees?

Thanks all!

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Eka Linwood
  • Rental Property Investor
  • Overland Park, KS
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22
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Eka Linwood
  • Rental Property Investor
  • Overland Park, KS
Replied Jan 27 2020, 09:00

I've used Transferwise to transfer money to my family and it went pretty smoothly.  Banks will charge you exorbitant fee and you'll need to wait for a few days before receiving the money.  Transferwise took a couple of days.