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My friend and I am planning to purchase a real estate in NYC, but both of us are not US citizen. In this

case, how much disadvantage we'd get in terms of tax?

Thank you in advance.
Sat May 3 2008, 02:18 - Buffalo - Home Buying - 2 answers
 
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Jikang Kim
Home Buyer
in outside of US
Jikang Kim, Home Buyer in outside of US in outside of US
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Todd P.Danni was FIRST TO ANSWER
This question has come across several times and there are means of financing; however, that was not your question. Are you speaking of income tax? It might end up a benefit.

If you wish to have further questions answered, contact me offline and I can recommend a very good tax accountant/CPA, a real estate attorney and a mortgage person who handles non-resident financing. Gail@GailGladstone.com

Sat May 3 2008, 12:44
Web Reference: http://GailGladstone.com
 
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FIRST ANSWER
There Is no disadvantage in terms of tax, only in financing. Typical US lenders will not mortgage properties to non-citizens. The tax on the property is the tax on the property.

Sat May 3 2008, 06:45
Web Reference: http://www.dannirealestate.com
 
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