Home Buying in Racine>Question Details

007123, Home Buyer in Racine, WI

I'm an Australian citizen looking to buy a property in Wisconsin. Is there anything I need to know?

Asked by 007123, Racine, WI Sun Jan 10, 2010

I'll be entering with a $40,000 deposit - and will be looking for a property within the range of about $150K, are there any laws, or restrictions that I will face? Would I be at an advantage if I bought the house along side a US citizen, as well?

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2
Vincent Selleck’s answer
Hi

There are generally no restrictions for foreign nationals buying US property. We advise our clients to buy through an LLC rather than in their own name for asset protection and if they live in Australia to set up an LLC in a tax-free state as the sole member for the LLC that owns the property in the state of operation to avoid state taxes and create another firewall between their US property and other Australian assets.
I am happy to provide further advice, as we are buying lots of foreclosed properties for Australian investors with net returns of 15-25%. We have a team which includes lawyers and a joint US and Australian accountant to ensure that each client is setup correctly for legal and tax.

You can contact me on vincent@888wc.com.au or http://www.888wealthcreation.com

Many thanks

Vincent Selleck
0 votes Thank Flag Link Thu Apr 8, 2010
Im not sure what sort of restrictions you are referring to..Please call me (262) 960-0468 and I can address all the questions you may have..Thanks! Mini
0 votes Thank Flag Link Sun Jan 10, 2010
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