Structure for my foreign investor

[Jennifer Lee]

Hi BP

I'm so glad I found this section.
My investor is my immediate family, (foreigner)

She would like to finance one of my real estate deals.
1. Under her name? No tax ID.
2. Under LLC. Does she need to be here to do it? Will she be taxed, need tax ID and EIN
3. Under LLC I open. No mention of her...but since we are family we have understanding ( not an issue in past, no fear of CHEATING)

I'm looking for a lawyer but living in small town USA having a hard time finding someone with experience.

Thank.

[Uwe S.]

Jennifer,
in Wexford you will find what you looking for
#1 in Wexford
#2 in Wexford

Good luck.

-Uwe

[Jennifer Lee]

Thx

[Steven Hamilton II]

Hello Jennifer Lee,

Are you partnering with her or is she just lending you money?

Can you elaborate on the structure of what you are doing. If you are buying a property and she is providing the funding all you have to do is write a promissory note from her to you and for her to loan you the funds.

If she is lending: She does not need an LLC. She will file a 1040-NR showing the interest income from the loan; that should be offset by her income tax rate in her country depending upon where that is. She will only pay the highest rate and will typically receive a credit for any other income tax paid.

As far as the taxation goes I am very familiar with this and have many clients overseas. I would be happy to answer your questions. We also get many questions here on BP in that regard.

-Steven

[Jennifer Lee]

Thanks! Great idea...I forgot that route! That's how I did my first flip 10 yrs ago! Thx!!!

Just lending the money