Hey all, wanted to get some insight from you guys, especially ones who have been in the market, prior to getting into real estate myself.
I have ~$250K that I want to invest in the US real estate, as a foreigner.
Simply put, my plan is to buy a land, build on it (either commercial or residential), rent it out. I did a very rough calculation, seems like I'd break even in 4-5 years (including the construction phase), then passive income starts flowing in. Is this easier said than done? Now, my questions:
1. Location? - Any recommendations?
2. As a foreigner investor, do I have any fall backs or difficulties when compared to a US citizen?
3. Should I take out a mortgage, if I can fully use the cash? Did some research on this and different people have to different opinions. Some even said use half the cash and mortgage the remainder.
4. Taxes? What taxes am I liable for? Are those the same for a US citizen?
5. Construction costs? What's the average construction cost per square foot for an average residential complex?
6. Is it preferable to do a feasibility study in order to know where I would stand?
7. Did I miss anything?
Thanks
I have ~$250K that I want to invest in the US real estate, as a foreigner.
Simply put, my plan is to buy a land, build on it (either commercial or residential), rent it out. I did a very rough calculation, seems like I'd break even in 4-5 years (including the construction phase), then passive income starts flowing in. Is this easier said than done? Now, my questions:
1. Location? - Any recommendations?
2. As a foreigner investor, do I have any fall backs or difficulties when compared to a US citizen?
3. Should I take out a mortgage, if I can fully use the cash? Did some research on this and different people have to different opinions. Some even said use half the cash and mortgage the remainder.
4. Taxes? What taxes am I liable for? Are those the same for a US citizen?
5. Construction costs? What's the average construction cost per square foot for an average residential complex?
6. Is it preferable to do a feasibility study in order to know where I would stand?
7. Did I miss anything?
Thanks