All Forum Posts by: Clarence Gong

Trying to add that I have not seen anything sympathetic and tell me we are not greedy!

I d admit that I felt bad when I saw Morris Clayton on YouTube and I felt kind of sad for the guy and we all made mistakes! I am a Chinese guy who is investing in US and seen all these up and downs in our life’s and I guess we all need a break! Long story but we can all be fair! Good luck man! 

There is a 30% withholding tax for foreign investor as well! 

Hi BP family,

I’m a overseas rental property investor started not long ago. Trying to get educated as much as possible and the more I get into it, the more complicated seems.

1, As for foreign investor, which state is the best choice to register a LLC or Series LLCs? Texas? Nevada? Wyoming? Maybe it got nothing to do with if you are a foreign national. It's all down to where is the best place to protect your assets?

2, My understanding is: Land trust solves the issue of anonymity; LLC protects them. Is that correct? So do I need both?

I would appreciate any referral or lead that handles my situation, as being foreign national, buying multiple properties, most important of all, protection for properties and anonymity. 

Love to hear from all you experts and appreciate your input!

I think they agreed for refund but told me takes time. Lesson learned again!

Hi guys,

As I have posted, got ripped off by this attorney named XXXXX.XXXXX.XXXXXXXX, charged me $4500 for registration of XXX LLC and had not done a thing. No contract either. But I got credit card records. They have been ignoring my request for refund! I could not believe it is happening!

How do I get it back?

Thanks guys!

I definitely will NOT hold them under my name. That's why I'm registering a Series LLC.

Thanks Matthew!

I am currently spending half year in Australia and the other in China. But my 3YO daughter is an US citizen by birth. I’m doing this investment thing mainly for her coz I want her to be educated in US. Tough journey I’ll say.

I am buying SFHs in Cleveland and also looking for other metro areas for Multiplex or commercial properties with lower property tax in order to make good cash flow. These type of properties tend to be very old in Cleveland and I am concerned with exit later.

I have not filled any tax in US yet. I don't think there will be rental income before Apr, 15. Coz the properties I purchased are in rehab. So I assume there will be plenty time for me to set up my LLC and I have not found my CPA yet little scared to be ripped off again!

Hope the information helps coz I think I mostly like to keep things private. Any help is appreciated and thanks in advance!

Hi Guys,

Currently I am looking for a RE attorney to set up a Series LLC. I think I got ripped off charging me for $4500 from an attorney and I am asking for a full refund! They have not done a thing yet! Blame it on myself, should have done my due diligence better!

My question is how do I manage to open my BANK account for my LLC and manage all the transactions later from overseas? The attorney ripped me off did offer the service of opening accounts for me. So it's absolutely doable for any attorney I guess. Is that part a standard service or something extra I got to pay for? But $4500 made me sick! It's all over the internet from $300-$700 including some first year fees whatever.

New in the business and appreciate all you investors had experience with this could lighten me up! I am sure lots of you out there paid your price for lessons learned and love to hear about them! Hopefully for future foreign investors to see them as precautions.

Thanks everyone!

Thanks guys. I should have done my due diligence better! I am asking for my full refund. Coz they have not done a thing yet.

The other question is I am investing remotely from half way across the planet. How do I get my LLC accounts open up and how do l manage all the spendings later? I will open another post probably.