All Forum Posts by: Redha Laafia

@Mathew Madruga

That deal looks like a sweat fix and flip not Rental. The rent is not high enough and the loan will be too high to sustain.

@Christopher Smith

Hey Chris, what you have here is a beautiful flip not BRRRR. You should consider flipping this deal.

@Shavar G. Great great educational response. love it

@Frank Wong why wouldn't you recommend BRRRR if not local?

@Ali Boone Sorry for late reply. I hadn't set up pop-up notifications for the app..

No, but i'm an IRS-US resident, I should also qualify for a residential loan since I've been 2 years+ working here.

As of now, we are only looking into BRRRR rental properties

My CPA recommended us to have my foreign dad open an US LLC, retain 98% and me 2% (so I can control here locally). We would then buy the properties via the LLC. (Not sure how we would get a loan, and also I'm not comfortable having 2% only)

I am not sure I'm too fan of this idea. I'd rather have him 100% on the LLC, with his bank account - and loan me the money to mine as we want. Now, the question is : can he open the bank account not being in US?

Would love to hear your suggestion Ali, it seems you have experience on this topic !

Thanks in advance

Redha

@Ali Boone Thank you for the answer! I have contacted a few CPA this weekend.

I'm working in the US so I should be able to take a US mortgage on a property I believe.

We are still debating on the partnership structure, if it is a loan with interest that would be the best in my opinion. Maybe I could set up a promissory note with an attorney every time he provide me with funds?

We are essentially looking to BRRRR properties and build a large portfolio. I had interested in turnkey, but it seems that the "R" for refinance does not apply. We are also interested to buy from Tax Deed Sales, Sheriff Sales - primarily to rent but not closed to the idea of flipping for quick money if that makes better sense.

@Karl B. Thanks Karl!

Just sent him a message, hopefully, he will be able to help out!

@Lance Lvovsky Thank you. Definitely need a knowledgeable CPA on our team. Would you be able to recommend anyone you know that helps overseas investor?

@Karl B. Thanks Karl! What’s his @ name? Would love to send him a message

Good morning!

I'm starting in Real Estate and my father would be interested to fund my US rental properties from Europe.

I'm sure that involves several layers of tax concerns, deal structure problematic, etc...

As of this morning, I have 2 questions :

- Should I involve him as a simple private lender from overseas ; or would equity partner be easier?

- Since my father is not US citizen, what will be the tax implications?

Lastly, I would appreciate any recommendation/referral to a CPA that has dealt with overseas investor!

Thanks

Redha