All Forum Posts by: Mark C.

@Peter M. I am hoping to be investing and living in Portugal shortly.  I will be out there to "get legit" in March prior to Brexit ... I'm a Brit.

The 31/2012 laws were unfriendly to the landlord, and the recent 13/2019 updates did not help much, in fact made it worse for the market.  I am intrigued by the "workaround" of long-term rental-as-a-service, can you give more information here? We have dabbled with a similar all-inclusive rent-by-the-room of 4 bedroom townhomes in Colorado, and it has been very profitable.   

-- Mark

Oi @Bruno Ferreira,

I am currently an investor in the US, but will be relocating to PT in June, and keeping my US rental income. I would be interested in hearing how your investments are going. We will be looking to invest there soon too, and looking for partners.

-- Mark

@Rui Dias Costa Obrigado ... it is hard to find data on PT.

@Thomas Youngman are you looking to get an RE meetup going in PT? I would be very interested.  I will be in Castelo Branco in March. Relocation in June, possibly to the Coimbra region, but still very open.

@Mary Lev did you find anyone to talk to about Portugal? 

I am heading out in March, and looking to relocate in June. I BRRRR in Colorado, and will be looking for similar investments in PT.

I am a BRRRR investor in Colorado, and I am currently looking to move to Portugal. This is partly for the lifestyle, but also for investment. I will place my current US rentals under management and live overseas. We hope to get a feel for the market there and possible look into syndicating deals there.

How rural are we talking? There are some nice properties in PT that are still close enough to the tourist areas to still be attractive, and then there are the others. If you have that key attraction that people will come to your property for, then it could be a winner. Otherwise you may struggle.

I am heading out to Castelo Branco in March to get legit before Brexit, and then will move out there with my American girlfriend. May not settle in Castelo Branco, still looking around, but we do intend to BRRRR there.

Are you staying in Dublin, and trying to manage from there, or do you intend to move out there and run the place?

I would not recommend Equity Trust. Moderately high fees from what I am seeing here, and constant delays and/or SNAFUs. Even when building in additional time to the contract they have missed deadlines. They seem to REQUIRE you to pay the expedited fees to be able to meet reasonable deadlines. This comes off as fee extortion.

I have had an account with them for about 3 years, and done several transactions. I am now looking for an alternate SDIRA custodian.

Even if you can't get in-state tuition, this is an excellent way to diversify into another market. It also gets your kids interested in REI, so of course the first step will be there own BP account! The income from the rent will be a reasonable way to pay for tuition even on out-of-state rates. Any appreciation could be used to pay off student loans, or 1031 into a new home to start their new life.

Putting all this in their name helps establish credit, and good practices (with guidance). It also offload s that income from you. You could therefore pay much less tax on it, before it goes towards tuition.

It is a very efficient model if you can get all the pieces to work. I have considered it for my daughter @Emma Coles, who now has her own BP account, and we are starting to talk about how this real estate thing works.

 I am not sure she needs a W2, but she could get a part time job. The rest will come with the purchase of the house ... utility bills, certified mail at that address, title of the property, paying taxes on it etc etc.

"You HAVE to live in the state for a year- without attending college there, or out of state, to qualify for in state tuition. Period."
OK, this might be a problem. However you might be able to get around it by buying the property one year before attending college. This makes it very tricky, if my 18yo daughter is anything to go by, they don;t know where they want to go. It might also still work if you plan to do the first year of college in-state, get all the 101s out of the way, then move to the desired college.

Cutting "ties" to the old state should happen as part of the move. 

 Why is this "cheating" the system?

She pays out-of-state costs initially, then establishes residency in that state. She is then entitled to in-state tuition costs. This seems to be following all the rules, not cheating them. The property taxes from this home, and the income taxes on the rent, will go towards paying any in-state discount.