Can it be done long-distance?
Member since 2023 · 6 posts · 4 votes
Can it be done long-distance?
Most Popular Reply
Investor · San Diego, CA · Member since 2016 · 1k+ posts · 975 votes
3y@Jordan Morris Welcome to bigger pockets! Yes you can absolutely buy and manage rental properties from anywhere in the world. I have not done it internationally, but I have purchased, managed, BRRRR'd, and flipped multiple properties out-of-state successfully while active duty military (I've been in the Navy for a little over 14 years now).
I recommend starting with David Greene's book "Long-Distance Real Estate Investing". That book was hugely impactful for me, and really opened my mind up to the idea that you don't have to invest where you live. It's all about having the right people on your team!
I'm happy to chat about my journey as well or answer any questions you may have.
Good luck and keep us updated on your journey!
25 Replies
- Investor · San Diego, CA · Member since 2016 · 1k+ posts · 975 votes3y
@Jordan Morris Welcome to bigger pockets! Yes you can absolutely buy and manage rental properties from anywhere in the world. I have not done it internationally, but I have purchased, managed, BRRRR'd, and flipped multiple properties out-of-state successfully while active duty military (I've been in the Navy for a little over 14 years now).
I recommend starting with David Greene's book "Long-Distance Real Estate Investing". That book was hugely impactful for me, and really opened my mind up to the idea that you don't have to invest where you live. It's all about having the right people on your team!
I'm happy to chat about my journey as well or answer any questions you may have.
Good luck and keep us updated on your journey!
- Investor · Arroyo Grande, CA · Member since 2014 · 1k+ posts · 1k+ votes3y
Jordan, absolutely.
I'm some 2,000 miles away from my rentals.
My belief is once you have to get in a plane to visit them it doesn't really matter how far away you are.
- Member since 2022 · 77 posts · 47 votes3y
Hey Jordan, its all about having systems in place and a strong core four! If you're still not comfortable, nothing a plane ticket cant fix.
- Miami, FL · Member since 2022 · 83 posts · 68 votes3yDefinitely possible, but it all comes down to having a local team (most importantly a local PM) that you can trust.
- Real Estate Agent · Atlanta, GA · Member since 2020 · 1k+ posts · 1k+ votes3y
@Jordan Morris, as others have noted, this all comes down to having a resourceful and trustworthy team in place. Find an investor-focused real estate agent to work with and the rest of your team will come into play. As an agent, I'm biased, however, I view us as the catalyst for many investors.
- Member since 2023 · 6 posts · 4 votes3yThank you all for your kind replies. It does sound that this could be possible. I guess the only problem I would have is to acquire loans for the first properties...
I have a friend in Orange County (CA) who could always step in for emergencies and travel to locations if needed. - Member since 2023 · 6 posts · 4 votes3y
Quote from @Doug Spence:
@Jordan Morris
I recommend starting with David Greene's book "Long-Distance Real Estate Investing". That book was hugely impactful for me, and really opened my mind up to the idea that you don't have to invest where you live. It's all about having the right people on your team!
Thank you for the recommendation! I will definitely get the book. I love real estate and have always wanted to be in real estate, and at some point to build properties. I have a really good knack for cutting corners without cutting on quality.
- 3yMelissa HartvigsenBusiness MemberReal Estate Agent · Beaverton, OR · Member since 2020 · 190 posts · 158 votes
Hi Jordan,
Yes, you can purchase and manage properties form abroad. I have some clients who are based outside of the US and they have additional tax implications now that they are overseas. It is possible you could be paying income tax on rental income received in the US and where you reside.
Your post didn't say whether or not you are a US Citizen. If you are not, there would also be the Foreign Investment in Real Property Tax Act that would have taxes due on the sale.
You may want to check with a CPA, and explain your specific situation. Then, once you know what tax implications are, I would go about your cash flow calculations to see if it makes sense.
Melissa - Investor · Multiple · Member since 2019 · 175 posts · 150 votes3y
I am acrive duty and still invest out of state. It takes a team, lots of communication, and trust. I buy and hold, flipped, and conducted private money lending all long distance. @Doug Spence recommend a great book. I Second his comment.
@Jordan Morris get familiar with your local US embassy since you’ll likely need their notary services. I managed 4 years from 8000 miles away - you’ll certainly need systems and trusted trades if you don’t use a PM.
- Investor · San Diego, CA · Member since 2016 · 1k+ posts · 975 votes3y
@Allan C. Great advice! @Jordan Morrisa Also, consider finding a title company that can do closing documents without wet signatures as well. Not sure if that was just a COVID thing that isn't around anymore, but its worth asking about.
- Member since 2023 · 6 posts · 4 votes3y
Quote from @Doug Spence:
Also, consider finding a title company that can do closing documents without wet signatures as well. Not sure if that was just a COVID thing that isn't around anymore, but its worth asking about.
Very good suggestion. I will take that in mind. :)
Thank you. - Member since 2023 · 6 posts · 4 votes3y
Quote from @Melissa Hartvigsen:
It is possible you could be paying income tax on rental income received in the US and where you reside.
Your post didn't say whether or not you are a US Citizen. If you are not, there would also be the Foreign Investment in Real Property Tax Act that would have taxes due on the sale.
You may want to check with a CPA, and explain your specific situation. Then, once you know what tax implications are, I would go about your cash flow calculations to see if it makes sense.
Melissa
These are very good points to take into conseration early on.I am based in the UK. We have some kind of tax treaty between the US and UK, meaning we can file a Foreign Tax Credit application to avoid double taxation. I would need to look into this.
Also, and I don't know if this is a system you use in the U.S., but if I would own properties and rent them for short or long rentals, I would register two separate companies and two separate bank accounts for these activities and do business with myself between these two companies. This will help to mitigate legal risks and lawsuits, which can potentially destroy your investments.
For example, I register company 1 as REMS (Real Estate Management Services). This company doesn't own the properties but leases them from company 2, which I register as, say, REIP (Real Estate Investment Portfolio). My company 2, REIP, would lease the properties to company 1, the management services. REIP would then invoice the management company every month. And you have actual contracts made between the two companies. All paperwork has to be made as if you have two completely separate companies that do business with each other. This includes income and salaries.
You also keep all accounting completely separate (this is important). You sign any agreements, ads, rentals in the management company's name only - not in your investment company's name. So, if you get a very sue-happy and aggressive tenant, they would sue the management company which doesn't retain any assets but your investment portfolio would remain protected. I would personally register the investment company perhaps even in a different country, in a different jurisdiction. It may also help to reduce your taxes. In the UK, for example, we have base tax deductions for a company. Each company would qualify for these deductions (and tax returns would need to be filed separately for each), so if I have two companies I qualify for double deductions...
I am not a real estate expert in anyway, but I hope this structure may perhaps help some of you with your property portfolios and to protect your assets. - Member since 2023 · 6 posts · 4 votes3y
Quote from @Allan C.:
@Jordan Morris get familiar with your local US embassy since you’ll likely need their notary services. I managed 4 years from 8000 miles away - you’ll certainly need systems and trusted trades if you don’t use a PM.
I didn't know the embassy offers notary services! That's a great suggestion. Thank you! - 3yMelissa HartvigsenBusiness MemberReal Estate Agent · Beaverton, OR · Member since 2020 · 190 posts · 158 votesHere is some more information on the FIRPTA tax related to sales directly from the IRS:
Quote from @Jordan Morris:
Quote from @Melissa Hartvigsen:
It is possible you could be paying income tax on rental income received in the US and where you reside.
Your post didn't say whether or not you are a US Citizen. If you are not, there would also be the Foreign Investment in Real Property Tax Act that would have taxes due on the sale.
You may want to check with a CPA, and explain your specific situation. Then, once you know what tax implications are, I would go about your cash flow calculations to see if it makes sense.
Melissa
These are very good points to take into conseration early on.I am based in the UK. We have some kind of tax treaty between the US and UK, meaning we can file a Foreign Tax Credit application to avoid double taxation. I would need to look into this.
Also, and I don't know if this is a system you use in the U.S., but if I would own properties and rent them for short or long rentals, I would register two separate companies and two separate bank accounts for these activities and do business with myself between these two companies. This will help to mitigate legal risks and lawsuits, which can potentially destroy your investments.
For example, I register company 1 as REMS (Real Estate Management Services). This company doesn't own the properties but leases them from company 2, which I register as, say, REIP (Real Estate Investment Portfolio). My company 2, REIP, would lease the properties to company 1, the management services. REIP would then invoice the management company every month. And you have actual contracts made between the two companies. All paperwork has to be made as if you have two completely separate companies that do business with each other. This includes income and salaries.
You also keep all accounting completely separate (this is important). You sign any agreements, ads, rentals in the management company's name only - not in your investment company's name. So, if you get a very sue-happy and aggressive tenant, they would sue the management company which doesn't retain any assets but your investment portfolio would remain protected. I would personally register the investment company perhaps even in a different country, in a different jurisdiction. It may also help to reduce your taxes. In the UK, for example, we have base tax deductions for a company. Each company would qualify for these deductions (and tax returns would need to be filed separately for each), so if I have two companies I qualify for double deductions...
I am not a real estate expert in anyway, but I hope this structure may perhaps help some of you with your property portfolios and to protect your assets.
https://www.irs.gov/individuals/international-taxpayers/firpta-withholding
I am not a legal expert and cannot speak to how the structure you proposed having of separate companies for your investment and property manager will protect your liability from a lawsuit. In my state, Oregon, we have some of the strictest laws against landlords in the county. I have seen management companies be sued along with owners, and both parties have been found to have fault in some cases. Maybe researching which states are the most "landlord" friendly will help you in that decision. Also, I would consider adding an "umbrella policy" for insurance to help shoulder the cost of liability in the event of a lawsuit. My policy for my investments only costs a few hundred dollars per year.
Best wishes for your investment endeavor! - Member since 2023 · 2 posts · 0 votes3y
@Jordan Morris Thanks for sharing your structure. I'm new to real estate investing and though I owned rental property in the past, it was primarily because I moved and had a co-worker who wanted to rent my house so I did for two years and then sell it (looking back I wish I kept the house). Now that I'm just starting to invest in real estate, I decided to build a foundation on which I can build the business.
I currently have a structure that is somewhat similar to yours. In my structure, I have a trust that owns my Company 1 (which is my holding company) and the holding company currently owns two LLCs (registered in the states where they will own properties). For each property I purchase, depending on the circumstances, I intend to have either 1 or two properties per LLC. Each of my LLCs will be treated as a disregarded entity for tax purposes so I do not have to file taxes for each but instead do a single tax for all the investment properties (there will be some exceptions though). Similar to your structure, at some point (when it makes sense) I intend to have a new LLC that will serve as the REMS for all the properties in my portfolio.
Again, I'm very new to the real estate game and currently do not own any investment properties, but I have been researching (and building a foundation) for the past six months and hope to leave my current corporate job within the next 5 - 7 years. Right now I'm searching the Las Vegas area for a quad (4-plex) as my first investment property… My wife and I own two other businesses but we are super excited to start this venture since real estate has the best potential for long term wealth building
Again, thanks for sharing your structure with the BP community.
- 3yEric FernwoodBusiness MemberRealtor · Las Vegas, NV · Member since 2014 · 998 posts · 1k+ votes
Hello @Jordan Morris,
Remote investing is our standard business. Of the 180+ clients we’ve worked with, only about 10 were local. All the rest lived in other states or countries.
There are two requirements for successful remote investing:
- Choosing a location with rent that has kept pace with inflation and is likely to continue doing so.
- An experienced local investment team.
Location Selection
The selection process is based on a few simple metrics that a location must meet. Below are a few of the criteria.
- Metro area population greater than 1M.
- Both state and metro populations are increasing.
- Low crime - Do not invest in any city on Neighborhood Scouts’ list of the 100 most dangerous US cities.
- Low operating cost - High operating costs can turn what appears to be a profitable property into a money pit
- Rent control - Never invest in any location with rent control.
For more criteria and details, DM me for my free guide on selecting a dependable passive income location.
Investment Team
The critical factor for successful remote investing is a local investment team. The critical team member is the investment realtor. Investment realtors are not “investor-friendly” realtors.
Residential (or "investor-friendly") realtors enable people to buy or sell homes. The process is simple. Homebuyers select properties, and the residential realtor provides access. Once selected, the residential realtor facilitates the offer and the closing process. Some residential realtors occasionally sell real estate that will become rental properties. However, residential realtors provide limited value beyond supplying MLS data sheets. To an investor, MLS data sheets are worthless.
While there are usually thousands of Residential Realtors in a metro area, there are usually only one or two Investment Realtors. Investment Realtors must understand finance, market trends, ROI, tenant pools, and more. Investment Realtors provide a wide range of services, including property selection and evaluation. Plus, Investment Realtors are always part of a team. Only a team can provide all the skills and resources required for successful real estate investing.
For how to select an experienced investment realtor, DM me for my free guide.
Summary
Remote investing is straightforward if you choose a good location and have an experienced investment team. So far, we’ve delivered over 480 investment properties. Some of our clients live in other countries.
FERNWOOD Team, KW VIP Realty520 Reviews - 3yScott AllenBusiness MemberReal Estate Agent · Columbus, OH · Member since 2020 · 449 posts · 471 votes
Welcome to BiggerPockets!
It's more than possible. Just build your core four after you decide on which market you'll be investing in.
- 3yEric FernwoodBusiness MemberRealtor · Las Vegas, NV · Member since 2014 · 998 posts · 1k+ votes
Quote from @Conroy Watson:
@Jordan Morris Thanks for sharing your structure. I'm new to real estate investing and though I owned rental property in the past, it was primarily because I moved and had a co-worker who wanted to rent my house so I did for two years and then sell it (looking back I wish I kept the house). Now that I'm just starting to invest in real estate, I decided to build a foundation on which I can build the business.
I currently have a structure that is somewhat similar to yours. In my structure, I have a trust that owns my Company 1 (which is my holding company) and the holding company currently owns two LLCs (registered in the states where they will own properties). For each property I purchase, depending on the circumstances, I intend to have either 1 or two properties per LLC. Each of my LLCs will be treated as a disregarded entity for tax purposes so I do not have to file taxes for each but instead do a single tax for all the investment properties (there will be some exceptions though). Similar to your structure, at some point (when it makes sense) I intend to have a new LLC that will serve as the REMS for all the properties in my portfolio.
Again, I'm very new to the real estate game and currently do not own any investment properties, but I have been researching (and building a foundation) for the past six months and hope to leave my current corporate job within the next 5 - 7 years. Right now I'm searching the Las Vegas area for a quad (4-plex) as my first investment property… My wife and I own two other businesses but we are super excited to start this venture since real estate has the best potential for long term wealth building
Again, thanks for sharing your structure with the BP community.
Hello @Conroy Watson
Multi-family can be the right investment if it attracts the right tenant segment.
My first investment property was a fourplex located in a distressed area of Houston. Although it appeared to be a cash cow on paper, once I subtracted the costs for vacancies, skips, evictions, property damage, and maintenance costs, it turned out to be a money pit. The only way I managed to limit my losses to $1,000 per year after tax savings was by doing all the maintenance myself.
The second-best day of my early investment career was when I purchased this property. The best day of my early investment career was when I sold it.
I later purchased two 4 Plexes in a suburb of Atlanta. These properties were -A, +B properties. No skips, no evictions, and minor maintenance costs, and the tenants always paid on time.
The difference between the Houston property in the Atlanta properties was the tenant pool the properties attracted.
Some considerations about Las Vegas multi-family properties:
- The average length of a tenant's stay in Las Vegas multi-family units is less than one year. Skips, evictions, and property damage are common, resulting in high vacancy costs.
- Almost all of the multi-family properties were built prior to 1987 and are located in high-crime, distressed areas. The location limits your ability to increase rent since anyone who can afford higher rent would not choose to live in these areas.
- The tenant segment that typically occupies multi-family units in Las Vegas consists of low-skilled workers who earn near minimum wage. They are the first to be laid off and the last to be rehired during periods of economic turbulence. For instance, during the 2008 financial crash, many multi-family units in Las Vegas were vacant.
- In 15+ years of dealing with residential and commercial investments, I have never seen any investor sell a performing asset. 100% of the time, the property was losing money either through tenant issues or deferred maintenance. The question is whether you can turn the situation around. In some cases, this is not possible.
- While there are some multi-family properties where the interiors have been updated, few have had the expensive infrastructure replaced. For example, putting in a granite kitchen counter in most such properties costs about $2500. Replacing the plumbing will be in the $15,000 to $20,000 range. The owner is responsible for the sewer pipe that connects the building to the sewer main in the middle of the street. I have only done two. One was $5500 and the other one was $8500. I sold a 20-unit apartment complex and the cost to replace the sewer line for that property was quoted at $45,000.
- You need to work with an experienced realtor and property inspector who can perform a comprehensive evaluation. Be aware that what you hear from the agent may not match reality. For example, according to the agent for the last 4-plex I checked out, all four units were rented for $900/Mo. During my due diligence, I always interview all the tenants. In this case, the information I was getting didn't make sense. So, I offered one of the tenants $50 to explain what was really happening. He told me that they had a choice between paying $900 by money order or $600 in cash. This means that instead of the property generating $3,600 per month, it was actually generating $2,400 per month. Build your financials off of tenant interviews and rent deposits in the seller's bank account. Believe nothing else.
My most recent experience with multi-family is four units this month. The buyer purchased multiple single-family properties from us in the past and made a lot of money. He attended an investment seminar where he was told that multi-family is a cash cow. He came to us and wanted to buy four 4-plexes. Our mission statement is, "No one gets hurt on our watch." So we refused to sell them.
He found another realtor and spent over $1 million plus mortgages to buy the four properties. That was one year ago. For the last two months, we've been working with the mortgage company and others to dispose of these properties so he doesn't face foreclosure. Of the 16 units, I believe four are occupied by Section 8 tenants and the rest are vacant or occupied by squatters.
There is a common belief that Section 8 tenants are a sure bet. However, this is not true. While you are almost guaranteed to receive the portion of the rent paid by the Section 8 program, you may or may not receive the portion of the rent that is supposed to be paid by the tenant. This is the case for the current client; none of the Section 8 tenants paying their portion of the rent.
I have read that many people have had positive experiences with Section 8. However, neither my clients nor the property manager we work with has had good results with the program.
Instead of deciding on the property first and then excepting the tenant segment that is attracted to the property, I recommend you focus on your goals. If your goal is a reliable passive income you will not outlive, then select a 10 assignment with a high concentration of reliable tenants.
A reliable tenant is someone who stays for many years, always pays the rent on schedule, and takes care of the property. Since you will be holding the property for many years, you will need multiple reliable tenants over time.
Reliable tenants are the exception, not the norm. You can identify the Kennett segment with a high concentration of reliable tenants by interviewing property managers. Once you have identified this segment, determine what and where they are currently renting. Then, purchase similar properties.
Allow your target tenant segment to define all property characteristics. Do not bet years of savings on the opinions of others.
FERNWOOD Team, KW VIP Realty520 Reviews - Realtor · Dallas - Fort Worth Metroplex, TX · Member since 2016 · 1k+ posts · 925 votes3y
@Jordan Morris yes. Just important to figure out your financing first.
- Member since 2023 · 2 posts · 0 votes3y
Quote from @Eric Fernwood:
Quote from @Conroy Watson:
@Jordan Morris Thanks for sharing your structure. I'm new to real estate investing and though I owned rental property in the past, it was primarily because I moved and had a co-worker who wanted to rent my house so I did for two years and then sell it (looking back I wish I kept the house). Now that I'm just starting to invest in real estate, I decided to build a foundation on which I can build the business.
I currently have a structure that is somewhat similar to yours. In my structure, I have a trust that owns my Company 1 (which is my holding company) and the holding company currently owns two LLCs (registered in the states where they will own properties). For each property I purchase, depending on the circumstances, I intend to have either 1 or two properties per LLC. Each of my LLCs will be treated as a disregarded entity for tax purposes so I do not have to file taxes for each but instead do a single tax for all the investment properties (there will be some exceptions though). Similar to your structure, at some point (when it makes sense) I intend to have a new LLC that will serve as the REMS for all the properties in my portfolio.
Again, I'm very new to the real estate game and currently do not own any investment properties, but I have been researching (and building a foundation) for the past six months and hope to leave my current corporate job within the next 5 - 7 years. Right now I'm searching the Las Vegas area for a quad (4-plex) as my first investment property… My wife and I own two other businesses but we are super excited to start this venture since real estate has the best potential for long term wealth building
Again, thanks for sharing your structure with the BP community.
Hello @Conroy Watson
Multi-family can be the right investment if it attracts the right tenant segment.
My first investment property was a fourplex located in a distressed area of Houston. Although it appeared to be a cash cow on paper, once I subtracted the costs for vacancies, skips, evictions, property damage, and maintenance costs, it turned out to be a money pit. The only way I managed to limit my losses to $1,000 per year after tax savings was by doing all the maintenance myself.
The second-best day of my early investment career was when I purchased this property. The best day of my early investment career was when I sold it.
I later purchased two 4 Plexes in a suburb of Atlanta. These properties were -A, +B properties. No skips, no evictions, and minor maintenance costs, and the tenants always paid on time.
The difference between the Houston property in the Atlanta properties was the tenant pool the properties attracted.
Some considerations about Las Vegas multi-family properties:
- The average length of a tenant's stay in Las Vegas multi-family units is less than one year. Skips, evictions, and property damage are common, resulting in high vacancy costs.
- Almost all of the multi-family properties were built prior to 1987 and are located in high-crime, distressed areas. The location limits your ability to increase rent since anyone who can afford higher rent would not choose to live in these areas.
- The tenant segment that typically occupies multi-family units in Las Vegas consists of low-skilled workers who earn near minimum wage. They are the first to be laid off and the last to be rehired during periods of economic turbulence. For instance, during the 2008 financial crash, many multi-family units in Las Vegas were vacant.
- In 15+ years of dealing with residential and commercial investments, I have never seen any investor sell a performing asset. 100% of the time, the property was losing money either through tenant issues or deferred maintenance. The question is whether you can turn the situation around. In some cases, this is not possible.
- While there are some multi-family properties where the interiors have been updated, few have had the expensive infrastructure replaced. For example, putting in a granite kitchen counter in most such properties costs about $2500. Replacing the plumbing will be in the $15,000 to $20,000 range. The owner is responsible for the sewer pipe that connects the building to the sewer main in the middle of the street. I have only done two. One was $5500 and the other one was $8500. I sold a 20-unit apartment complex and the cost to replace the sewer line for that property was quoted at $45,000.
- You need to work with an experienced realtor and property inspector who can perform a comprehensive evaluation. Be aware that what you hear from the agent may not match reality. For example, according to the agent for the last 4-plex I checked out, all four units were rented for $900/Mo. During my due diligence, I always interview all the tenants. In this case, the information I was getting didn't make sense. So, I offered one of the tenants $50 to explain what was really happening. He told me that they had a choice between paying $900 by money order or $600 in cash. This means that instead of the property generating $3,600 per month, it was actually generating $2,400 per month. Build your financials off of tenant interviews and rent deposits in the seller's bank account. Believe nothing else.
My most recent experience with multi-family is four units this month. The buyer purchased multiple single-family properties from us in the past and made a lot of money. He attended an investment seminar where he was told that multi-family is a cash cow. He came to us and wanted to buy four 4-plexes. Our mission statement is, "No one gets hurt on our watch." So we refused to sell them.
He found another realtor and spent over $1 million plus mortgages to buy the four properties. That was one year ago. For the last two months, we've been working with the mortgage company and others to dispose of these properties so he doesn't face foreclosure. Of the 16 units, I believe four are occupied by Section 8 tenants and the rest are vacant or occupied by squatters.
There is a common belief that Section 8 tenants are a sure bet. However, this is not true. While you are almost guaranteed to receive the portion of the rent paid by the Section 8 program, you may or may not receive the portion of the rent that is supposed to be paid by the tenant. This is the case for the current client; none of the Section 8 tenants paying their portion of the rent.
I have read that many people have had positive experiences with Section 8. However, neither my clients nor the property manager we work with has had good results with the program.
Instead of deciding on the property first and then excepting the tenant segment that is attracted to the property, I recommend you focus on your goals. If your goal is a reliable passive income you will not outlive, then select a 10 assignment with a high concentration of reliable tenants.
A reliable tenant is someone who stays for many years, always pays the rent on schedule, and takes care of the property. Since you will be holding the property for many years, you will need multiple reliable tenants over time.
Reliable tenants are the exception, not the norm. You can identify the Kennett segment with a high concentration of reliable tenants by interviewing property managers. Once you have identified this segment, determine what and where they are currently renting. Then, purchase similar properties.
Allow your target tenant segment to define all property characteristics. Do not bet years of savings on the opinions of others.
@Eric Thanks for sharing. Your post is extremely informative and I appreciate it. You post is definitely making me think.
@Eric Fernwoodundefined
- 3yBasit SiddiqiBusiness MemberAccountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
If you are a non-resident alien(Foreigner), then there are a lot of steps that you need to do first before you can invest in properties within the US.
if you are a US resident / Citizen - then no issue.
Basit Siddiqi CPA4.979 Reviews - Member since 2023 · 4 posts · 1 vote3y
Quote from @Yael Lederman:
Definitely possible, but it all comes down to having a local team (most importantly a local PM) that you can trust.Exactly as I thought, which is the tricky part. Cheers.
- 3yEric FernwoodBusiness MemberRealtor · Las Vegas, NV · Member since 2014 · 998 posts · 1k+ votes
Hello Basit Siddiqi,
We have many foreign clients. Aside from getting an ITIN number, and working with a US CPA for filing taxes, what else is needed?
FERNWOOD Team, KW VIP Realty520 Reviews
Join the conversationCreate a free account to reply, vote on answers and follow this thread.