All Forum Posts by: Colette Albright

Hi Ali - to be honest. I don't quite know where to begin. I am thinking in the line of small one bedroom apartments which can be bought under the selling price, fixing them up and renting them to students. So I guess it is buy-to-let in areas close to Universities. Both some simple (meaning about four sharing a toilet/bathroom and kitchen and paying less rent) and more advanced (meaning rooms with own toilet/bathroom and sharing kitchen). I need to find areas in non (or not so high risk areas (low crime rate). I don't know if you in the US have social housing obligations by the state councils? Which could be an exit strategy if the university should shut/burn down. I'm also thinking about rehabbing former shops to become student rental rooms. Would I not need the shelter of a LLC to avoid lawsuits from people who have had accidents in or around my property?

@Rabih El-Khoury Would it help if I applied for citizenship. My husband is originally from Argentina and I understand that We are therefore eligable for citizenship...? Question here is, would setting up business and tax rules be better Then?

@Shoshana Shulman Great questions! I’m following!

@Willem Botha Thanks for your reply. Which States are you REI in, if I May ask? I would also like to know more about the different classifications of places to have rentals. Like A,B,C,D..etc. as I am thinking to seek out apartments or single family houses in towns outside bigger towns. So that tenants can still travel to work in the bigger towns within a resonable timespan. It would also have to have good shopping possibilities, School etc. But still be in a cheaper area, so people can afford to rent. Are these thoughts resonable?

@Rabih El-Khoury Thank you for all the information. Do I need both a lawyer and an accountant? Or could the "tax person" actually help me with both setting up LLC and obtaining EIN?

I would like to know how to start REI in the US. I've heard that I should contact a lawyer to make the setup. But what is the setup? An account, permissions, forming a LLC etc.? I would love to connect with others who do the same.

By the way I’m from Denmark in Europe and have experience from owning 2 apartments, a bit of rehabing and Selling with profit. I’ve also been in a board of directors in a owners association for 8 year and have great knowledge about PM from working with the PM to manage 11 blocks with about 240 units.

But now looking to do some REI in the US. Does anybody have a direction I could start walking in, so I too can find my financiel freedom? I need knowledge in this besides what I am sucking in here at BP.

@Daniel Ryu Are you still in Korea? And how were you able to invest in RE in the US without beeing US citizen?