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Rental Basics in Texas City : Real Estate Advice

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  • Home Buying11
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Activity 1
Tue Sep 1, 2015
Bruce Lynn answered:
Vic,

You can buy...the only restriction is that if you sell and you do not have permanent residency or citizenship the title company must retain I believe 25% of the sales price at closing to account for taxes. This is true even if you don't have any profit to pay taxes on. If they have withheld more than taxes due, you will get a refund when you file your taxes.

You do not need an employee....probably just a good property manager that will work on a percentage basis.

Are you paying cash or using financing? Financing is more difficult now for non-residents.

Do you have a place picked out already.
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Rental Basics in Texas City Zip Codes

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