A Filipino Dr. that wants to buy a motel for cash
are there any restrictions
No. Has to be US dollars.
We have two motels on the East Coast of North Carolina (Atlantic Beach). One with 13 restrooms at $1.575.000 and the other with 15 restrooms at $1.900.000. E-mail me for more details.
Leonard if he is buying it for cash then he will have few problems. He will need to go ahead and create the avenue and tax filings for the income depending on if he is establishing an LLC here to manage it or back in his home. I have international clients and it is just a matter of paperwork.
Hope this helps,
Yes, you may purchase property in North Carolina. I would recommend you hire two people to assist you with the purchase; a good commercial real-estate agent to assist you with finding the correct property and one who knows the local area and economy, and a financial planner accustomed to working with foreign clients to help you architect the purchase and any exit strategy.
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