Try the free mls link to see the least expensive homes for sale in the area wzm69mtrc6y On the map you can zoom in to the cities or areas around Glendale that you are interested in. Cash buyers have an advantage as investors. There about 1,400 lender owned properties in the metro area for sale.
Jeff Masich, Realtor, GRI, MBA
Basic Requirements for Foreign Investors wishing to Purchase Real Estate in the US
1. FIRPTA (Foreign Investment in Real PropertyTax Act)
Foreign Investors must acquire a US taxpayer identification number (TIN) before purchasing property.
2. Capital Gains Tax on Sales
Income resulting from the sale of US Real Property is taxable. The Capital Gains tax is calculated by using the Sale Price today minus the Original Sale Price, plus Capital Costs, minus Depreciation. Since this tax is approximately 20% of the gain, Sellers may consider an exchange. The time to divest can become the time to reinvest.
3. Income Tax
Foreign Investors are taxed at a flat 30% federal tax rate on gross rental income, unless they take the "net election" on their income tax returns allowing them to take deductions for regular expenses before income tax is calculated. Furthermore anyone who collects income for a Foreign Investor is generally required to withhold 30% of the Gross Income such as rents.
4. Title Decisions
Decisions as to how title is taken should be address beforehand. Title can be taken as an Individual , a foreign corporation, a US corporation or trust, for example. In these and other matter it is advisable to seek out a competent accountant and or lawyer with international experience.
As you can see, you have some homework to do before making your purchase.
I will be happy to assist you and answer any questions I can for you.
See you in February, and Happy New Year (CNY).
Johnese "George" James
Cabrillas Realty Services
Yes I can help. I work with a team if Realtor across Phoenix including Glendale helping investors such as yourself purchase property here in the USA as non-residents for investment purposes.
If you would like one of our agents to contact you directly I can easily arrange that.
You can find my information at http://www.stewkeene.com
My contact information is:
Stew Keene - Professional Realtor
2415 E Camelback Road Suite 700
Phoenix, AZ 85016
"Rated Highest in Customer Service on Yelp and Zillow"