My husband and I are both foreigners. I am German living currently in Mexico and my husband is Mexican living and working in the US with a TN visa. We both would like to get into real estate, we are just starting to learn about it. Anybody that has experience with real estate, especially flipping houses being foreigner? Is that even possible?
Architect · Bay area, CA · Member since 2020 · 25 posts · 26 votes
5y
I haven't flipped so I can't speak to the selling aspect yet and if there are any additional taxes incurred as a resident alien, but I have purchased a home for buy and hold with a TN. I was not eligible for an FHA loan because of my visa status but conventional was no problem! I did go in with min 3 years of American tax returns and a healthy American credit score, they would not accept my Canadian credit score initially which slowed me down a bit. Hope that is helpful!
Accountant · Slidell, LA · Member since 2019 · 382 posts · 272 votes
5y
@Catharina Wachtel Yes, you can invest and flip houses in the U.S. as a foreigner. Getting the projects financed may be a challenge as @Account Closed mentioned.