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Foreign Investor questions

I am looking at investing and my questions are:

1. what are the ongoing fees for an investment property in US
2. what are the other fees during the stage of purchasing other than the selling price
3. when purchasing, does it have to be onshore or can we organise the paperwork by post or email

I will appreciate if you can give me an insight. 
  • February 10 2014 - Detroit
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Answers (2)

Fees isn't necessarily the right word.   In Charlene's post she did a good job of describing expenses associated with anyone buying or selling real estate.

The one area that does apply differently are the Withholding taxes from the IRS.  These come to light during the selling process where the transaction will be subject to taxes (any investor has the same taxes) and the IRS makes it mandatory that taxes be withheld from the proceeds.  As  foreign national you will need to file a "Tax return" with a few extra pages.  It is possible to get a refund if too much was withheld.  Specific tax info come from a CPA in this country  and you want to have one in your corner in the state where the real estate will be located

My foreign investor are all from Canada and have their own US Tax ID's
  • February 11 2014
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Good Evening jrvillanueva,

My name is Charlene and I am a licensed Realtor and I deal with several Foreign Investors, I will address the questions that you asked:

1. what are the ongoing fees for an investment property in US - The fees involved are the purchase price of the property, closing price of the property, taxes, insurance and property management fee.

2. what are the other fees during the stage of purchasing other than the selling price - The other fees are the fees for re-habbing the property (repairing the home)

3. when purchasing, does it have to be onshore or can we organize the paperwork by post or email - Yes, all the paperwork that is necessary can be done by email.

Thank you,
 
Charlene Johnson, Realtor
Conquest Real Estate Group
16250 Northland Drive, Suite 202
Southfield, MI 48075
(248) 569-1486 - Office
(248) 595-8966 - Fax
(313) 574-7633 - Cell
  • February 10 2014
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