Updated 3 days ago on . Most recent reply
Curious about international investing
I know this community is geared towards investing in the United States, but recently I've been looking into properties in Japan. I've been thinking I could use it as a vacation rental throughout the year when I am not visiting. I'm curious if anyone on here is already experienced in international real estate opportunities like this and could tell me if this is viable legally or financially.
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#3 Wholesaling Contributor
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#3 Wholesaling Contributor
- Accountant
- New York, NY
I think it makes sense in one of the following situations
1) You want to establish residency. Some countries allow residency / golden passport if you buy a certain amount of real estate in the foreign country.
2) Money / Taxes are of no concern to you and you just want a property to call home.
In most other situations, you are likely better off renting in the area.
Some things to consider
1) Spending more than 183 in a foreign country normally will make you a tax resident of that country
2) If you die, you may need to follow the estate laws of that country
3) In the US, if you live in the property for more than 14 days, it may be deemed a personal property limiting your tax breaks as a rental property.
- Basit Siddiqi
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