All Forum Posts by: Jean Paul Rousseau

Thanks to everybody for your keen answers.

I am a french citizen living in France and paying my taxes in France. Having a C-corp allows to pay 15% taxes in US (on small gains due to depreciation) and nothing in France, so that does not add up to my french taxes. Furthermore my children are the company stockholders. I am just president and I lend money to the corp to buy houses. The corp repays me in 20 or 25 years (I will be dead but my children will get the repay). Of course I am not taxed in France on the repay and the company does not serve dividend at this time. Nevertheless I was told to require a small interest on my lendings; it will be 1% but due only in fine, so there is a good chance my kid get it. I don't know if it is the best choice, but it is the rationnal.

One problem is the large variation of the $ to Euro exchange rate, but there is a diversification advantage and this effect should be less important on the long term

Due to the cost of having one LCC per house, I think I will stay as it is for now and may reconsider the situation later on if I pursue my investments.

This leads me to another question. As the corp owes me a lot of money, it has very few equity and that should give some protection. Nevertheless, those lendings are registered to the french tax administration (to be sure it's not considered as a taxable gift), but nowhere in the US. Only my US CPA takes it into account; is that a problem? 

Hello bigger pockets fellows!

I have four SFR properties in Georgia under a C-corp. For safety reasons, I was told it was better to put each house in a different LLC. One of the problem is that it looks costly (100$ to set up each LCC and 50$ per year registration fee on each LLC). What do you think of that cost and is it worth to do it?

The other problem is that each property needs a different account. Is that true ? If it is, it looks very complicated.

I will appreciate if someone know more about this topic

Is the book useful for non US investors?

@Dan Wynn,

I also own four properties paid cash in Jacksonville through a Florida C-corp. For next year, I wonder if I can use those properties equity to obtain a line of credit to buy another one.

@Larry Fried 

got it! but I think it is a good idea for me to have an independant appraiser

I appreciate all your answers. 

@Larry Fried I note you ask for a property appraisal, which is important to me because I think you are using the same turnkey company than me.

OK. In fact as a foreigner I pay cash because it's very difficult to borrow money (at decent rates). So my US bank account is used to receive rents.

Before buying, I will ask some biggerpockets members in the area

@Bryan O.,

Thank you for your good advices. I buy post-renovation through a good turnkey company ; the main question is how to check that their price correspond (or is below) to the FMV. Should I ask for an independant appraisal ? If yes, where to find a company I could trust ?

Thanks

@Mayank S

Thank you for the answer. The new question is how determine FMV ? I can look at what was sold recently, but it is difficult to know if the house is in good condition

Hi every body.,

As I am a foreigner, I would like to know if you discuss the listed price when you buy through a turn key company ? in another words is it current to make an offer below the listed price.

Thank you for your advices