All Forum Posts by: Steve Vanderlay

Hi fellow BP's

I am trying to work out how much cash buffer I should have after my purchase to cover any unexpected larger ticket items that needs to be repaired or replaced. I am an out of country investor and do not know the general costing/expenses of these items in US.

I have a list of items, but I am sure more seasoned investors could add to the list with an approximation of each cost too, would be much appreciated.

- new roofing

- hvac system

- hot water system

- carpets/flooring

Thanks in advanced

@Bob E. 

Bob can your provide me the contact of your PM in the Cleveland area as I’m looking to invest in that market. 

@Spence Kal

I’d love to connect with you and sharing some of your trusted networks. 

@Denis Woosley

Hey Denis, would love to hear your non bs views on investing in the area and any PM's or realtors that you would recommend to an OOS investor.

Thanks to all in advance.

Hey Tess,

A great post! By the way, who did you use for foreigner financing?

Hi fellow BP's

Has anyone used or know of any feed back from other whether good or bad about Global Mortgage Group and their US subsidiary American Mortgages?

I had my first call with them and reluctant to share sensitive information as there isn't much about them online beside a couple of Facebook reviews.

Any mortgage brokers who can help with Foreigner financing?

Thanks

Steve

Thanks for the reply Ashish.

I do have further questions which I will DM you.

Has any of the above BP's had further dealings since posting your comments regarding GMG or their subsidiary American Mortgages? I had my first call with them yesterday. However, still reluctant to pass on sensitive information too.

I am wondering how does property taxes work in US? I will be using a LLC when purchasing the property then have an Holding LLC as I will be thinking long term with multiple properties across various States.

From what I currently understand is that an LLC is a pass through entity so that income will pass through the first LLC onto the Holding LLC where the account advises how it will be treated for taxes i.e a S corp, C corp or other.

My question is the following:

- Is the Holding LLC the only/last entity where I will engage an accountant to file tax returns before distributing the income/profits overseas to my tax residence. What is the current tax rates for these Corps/LLC's

- Could there be another step when the Holding LLC could be owned by another offshore Corporation i.e. in the Caribbean's to minimise taxes?

- Are there State level taxes that need to be paid, if so when and how often?

Have I missed any other taxes that I should know about when conducting due diligence on the figures side of things to make sure the ROI stacks up.

Thanks

Steve

Hi BP community,

I am wondering how does property taxes work in US? I will be using a LLC when purchasing the property then have an Holding LLC as I will be thinking long term with multiple properties across various States.

From what I currently understand is that an LLC is a pass through entity so that income will pass through the first LLC onto the Holding LLC where the account advises how it will be treated for taxes i.e a S corp, C corp or other.

My question is the following:

- Is the Holding LLC the only/last entity where I will engage an accountant to file tax returns before distributing the income/profits overseas to my tax residence. What is the current tax rates for these Corps/LLC's

- Could there be another step when the Holding LLC could be owned by another offshore Corporation i.e. in the Caribbean's to minimise taxes?

- Are there State level taxes that need to be paid, if so when and how often?

Have I missed any other taxes that I should know about when conducting due diligence on the figures side of things to make sure the ROI stacks up.

Thanks

Steve

Hi fellow BP community,

I am a foreigner looking at REI in US via turnkey companies. I want to hear your investing experiences (good/bad) with these turnkey companies and which ones you would recommend as a one stop shop.

So many good & horror stories in the forum, you do not know which one to use as a lead to start due diligence.

Thanks in advance for the help.