Rookie, Home Owner in Plano, TX

Buying rental property on H1B visa?

Asked by Rookie, Plano, TX Sun Sep 29, 2013

Can I buy a rental property while being on an H1B visa status? I am guessing i can but I would have to have a property manager do all the work and I earn only a passive income. Can I setup a company and do it through that? Does it have any benefits/drawbacks of buying one personally and renting or creating a company and buying/renting under the company name? I already own a home a Plano and would prefer to buy the rental property in the area as well.

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Answers

7
I am not sure why all my peers have said yes, when they don't no anything about your credit or income. It will all depend on you being able to qualify for a mortgage. So contact any lender of your choice and get pre qualified. Once this step is done you will get a letter from your lender to give to your Realtor. Hire 1 Realtor to work with only and get the house that fits your needs.
http://www.tcrdallas.com
0 votes Thank Flag Link Thu Oct 3, 2013
Hi Rookie,

Yes you can purchase rental property even if you are not a permanent resident in the US. If you have good credit score and good employment history, we can get you a loan.

I would recommend you set up a company for your rental business so you are not personal liable for anything in case of anything came up. And you can either self manage or have a property manager. Property manage usually charges about 10 perfect of the monthly rent.

Please let me know if you need help finding a rental properties. I have been workin the field in the West plano area.

Dixon
Realtor
http://www.findyourtexashome.com
0 votes Thank Flag Link Mon Sep 30, 2013
How irresponsible of these AGENTS who know nothing of an H1B. Our lawyer showed us the laws. It has to be PASSIVE income, you cannot self manage. So nice going Dixon Wong idiot. Your advice could get someone booted out of the country. God I cannot stand stupid people who just want business at any cost. SMH
Flag Tue May 20, 2014
Hello Rookie,
I will be happy to review with you some options. Feel free to contact me for a private consultation. I have proven experience representing H-1B visa homebuyers.
Thank you,
anny@homesusa.com
0 votes Thank Flag Link Sun Sep 29, 2013
Yes, you can. You can also be an owner property manager if you like. The question is more toward whether you have the personality and resources to manage your own. I also suggest that you talk to a CPA or a real estate attorney about setting up a company. They'll be able to give you advice on the pros and cons.

Let me know when you are ready to purchase an investment home. I'm not only a realtor but an investor as well and I also team up with property management company should you decide to have your property managed by a professional.

Susie Kay, Realtor®
GRI, CHMS, SFR
Residential/Commercial/Investment
English-Indonesian-Hokkien
------------------------------------------------------------------
United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240
469-371-2899
susie_k@att.net

http://www.dfwdreamhomes.net

Servicing your real estate need is my priority!
0 votes Thank Flag Link Sun Sep 29, 2013
Yes, you can. You can also be an owner property manager if you like. The question is more toward whether you have the personality and resources to manage your own. I also suggest that you talk to a CPA or a real estate attorney about setting up a company. They'll be able to give you advice on the pros and cons.

Let me know when you are ready to purchase an investment home. I'm not only a realtor but an investor as well and I also team up with property management company should you decide to have your property managed by a professional.

Susie Kay, Realtor®
GRI, CHMS, SFR
Residential/Commercial/Investment
English-Indonesian-Hokkien
------------------------------------------------------------------
United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240
469-371-2899
susie_k@att.net

http://www.dfwdreamhomes.net

Servicing your real estate need is my priority!
0 votes Thank Flag Link Sun Sep 29, 2013
I can help you find the property wholesale, get the financing specially designed for international buyers, manage the rehab, lease up and manage your property for you. Mu specialty is working with investors. Give me a call and we can discuss your investment objectives.

Regards,

Chris Hutchinson
REALTOR®
The Michael Group
972.809.0607
http://www.chrishutchinsonrealestate.com
0 votes Thank Flag Link Sun Sep 29, 2013
Rookie

I do buy to my international clients always (some even donot have Visa , they are just investor)
we have a property Management company that can manage your property
collect your rent , maintain the house ,....

let me know if I can help

John Hamidi
Keller William Realty
3600 preston rd Ste 100
Plano TX 75093
phone : 469-252-4661
website : http://www.johnhamidi.kwrealty.com

Mobile URL http://app.kw.com/KW171KAK
ACCESS CODE KW171KAK
0 votes Thank Flag Link Sun Sep 29, 2013
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