Can Non-Residents Profit From Wholesaling Homes in America?
Can non-residents and foreign nationals enjoy profiting from wholesaling homes in America and if so are there any different rules that they need to be alert to?
The great news is that the wholesaling strategies taught by the leading U.S. real estate investing gurus can essentially be mimicked for use anywhere on the planet. They may be certainly more advanced and systemized in the U.S. but the same tactics can be applied overseas.
Of course right now the U.S. still remains the top choice for global real estate investors. The conditions are better here, wholesaling homes can be much easier here and America is definitely at the ideal stage of the housing cycle to do it.
So what’s the difference in wholesaling houses in America for U.S. citizens and non-residents or foreign nationals?
Virtually anyone can wholesale homes in America. Unlike many other countries property ownership is not tightly restricted, perhaps with a few limitations for citizens of countries that have been deemed enemies. A side benefit of this also makes it more likely that American home values will rise faster, longer and more sustainably than abroad.
There may be some tax withholdings as a foreign national or foreign corporation. Find out by contacting a local real estate attorney, accountant or title conveyance company. Also look at the advantages of domesticating your foreign corporation by registering it in the United States, which can often be done online in a few minutes as can obtaining a tax ID number.
In regular real estate transactions financing is often restricted on conventional loans, which makes wholesaling an even better choice for foreign national investors as many hard money lenders and certainly private lenders don’t differentiate or discriminate. For them it’s all about the merits of the individual deal.
Wholesaling homes is without a doubt one of the best ways to capitalize on the new American real estate boom while staying liquid, enjoying the best international returns and safer investments and potentially even an faster pathway to U.S. residency and ultimately citizenship.
It even works for those that don’t want to be hands on. Consider partnering with a U.S. investor or buy an American wholesaling business.
However, regardless of which way you decide to start taking advantage of wholesaling homes or the current appetizing opportunities in the American residential real estate market success will all come down to leveraging the knowledge and education of experienced stateside real estate investing coaches and veteran investors.
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