All Forum Posts by: Joseph Loprete
Joseph Loprete has started 2 posts and replied 6 times.
Post: Best Strategy moving money from Puerto Rico To U.S.
- Posts 6
- Votes 2
Quote from @Aaron T.:
Quote from @Joseph Loprete:
Quote from @Aaron T.:
you looking for a vehicle to reinvest it or just wire from bank to bank?
Aaron -
Looking for the best strategy to move the money from PR to U.S. whether that be a trust/RE/ or any other creative way to avoid a huge tax hit.
We wire money on occasion from the US to PR and vice verse. no tax implications for moving money. or we also use US banks for PR income. It really all transparent to the banks. In PR when I take out large amounts they ask me what its for, I usually tell them to **** off its none of their business. my wife is more diplomatic. she tells them for "just in case for hurricanes".
Very Nice, Thanks Aaron!
Post: Best Strategy moving money from Puerto Rico To U.S.
- Posts 6
- Votes 2
Quote from @Aaron T.:
you looking for a vehicle to reinvest it or just wire from bank to bank?
Aaron -
Looking for the best strategy to move the money from PR to U.S. whether that be a trust/RE/ or any other creative way to avoid a huge tax hit.
Post: Best Strategy moving money from Puerto Rico To U.S.
- Posts 6
- Votes 2
Quote from @AJ Wong:
Premium RE, high COC return like a luxury STR or small balance multi family could be a good partial anchor.
Would any U.S. real estate purchase be acceptable for this type of transaction? Would there be a capital gain tax to pay from the sale of the PR business once the U.S. real estate was purchased?
Post: Best Strategy moving money from Puerto Rico To U.S.
- Posts 6
- Votes 2
Ok, so definitely not looking for legal advice here....But...
I know someone who has sold a business in Puerto Rico (7-figure sale) and is looking to move that money to the United States permanently. What would be the best strategy to do so avoiding unnecessary taxation.
Thanks!
Post: Looking for a Mortgage Broker who is also a Military Veteran
- Posts 6
- Votes 2
Quote from @Patrick Roberts:
Hey Joseph,
I'm also a devil and am down in SC. Let me know if you ever need anything in the Carolinas! Good to connect with other investor vets.
Oorah Patrick,
Great to hear from you! I love visiting SC and will certainly broaden my horizons in terms of RE and investing.
Thanks brother!
Post: Looking for a Mortgage Broker who is also a Military Veteran
- Posts 6
- Votes 2
I'm a Realtor/Investor who would like to partner with other professionals who are military veterans. I'm a Marine who is looking to gather a team of vets in the real estate industry. I have some specific plans for this idea. Would love to meet some great former military professionals!
Thanks
Joe