Logistics for Using Foreign Trading Account Money for US Investment Property Purchase

[Anna Freitag]

I am working on a deal with a partner currently to purchase another property for a midterm rental. My partner has roughly 180K in a trading account based out of the UK that he has not been doing anything with for the last few years. He's not earning any interest as it's just an account for trading on the forex market so I want to help him by getting it into a cash flowing property asap so he can actually be earning a return on that money instead losing money to inflation as he is currently doing. Our plan is to pull that money out and buy a condo in cash for another midterm furnished rental that I will be managing. The reason he has not yet withdrawn any of that money in the last couple years is he was wanting to avoid being taxed heavily. We are wondering if he might be able to avoid that by putting it straight into another investment (this rental property). Does anyone have any knowledge about the logistics of doing this? Like what is the path for moving this money....sending to the bank account associated with the joint LLC for this partnership? Wire it straight to the seller's account during the purchase? Wire it to escrow? Anyone with advice and knowledge in this area, or knowledge on who I should talk to and where I should look for this info would be greatly appreciated.