How many properties

[Andrew Beshara]

What is your US tax compliance costs as a percentage of the NOI of your portfolio? I ask because I figure that as a foreigner, investing in US property is not ideal from a cash flow perspective unless you're scaling with multiple properties. Can anyone add their views on these comments? What is the average cost for filing state and federal taxes for property held in an LLC?

[Chris Ramos]

Hi Andrew

That's a tough one because tax rates seem to vary from state to state.

I'll give you a quick example: Salt Lake City, Utah $300,000 home with an annual tax amount of $2,500.

Detroit, Michigan $35,000 home with a $2,500 annual tax rate.

Pontiac, Michigan ( different county that Detroit but only 20 miles north of it) $35,000 home with a tax rate of $700 annually.

In the midwest and west I see an NOI of under 6%, in C grade neighborhoods.

Select areas on the east coast and surrounding region I see NOI's of 9% to 15% in C grade neighborhoods.

Property Taxes are the same whether the home is held personally or in an llc.

I hope this helps, please feel free to send me any Specific questions and I'd be glad to answer them.

Good Luck.