I am a newbie to REIclub and am learning to invest in real estates.
Can anyone tell me about run real estate business under non-citizen/non-green card (such as H1B) status?
During my homework reading, I noticed that one better create a company like LLC to shield own assets from potential risk in the business. This makes sense to me. So I dig a bit more regarding creating the LLC or other types of companies. I found that it may be not practical for me, a immigrant work on H1B status, to open a LLC (or other company type) and run business under its name.
However I am still interested in the real estate business.
Can anyone tell me about how to run real estate business under non-citizen/non-green card (such as H1B) status? If you are on H1B status or you know someone who is running the business on H1B status. How to get started SAFELY ON IMMIGRATION SIDE?
There are several disadvantages to investing as a Foreigner in the U.S. The main ones are: the 30% tax you are subject to, the fact you can’t deduct your expenses, and the withholding you are subject to when you sell real estate.
I would suggest you form a Corporation instead of an LLC. That should solve the problems.