Myself and three other collegues:

me + 2 = U.K based
another U.S based

wish to invest in property in the US, NC in particular. Can anyone give us some advice on what to do in order to achieve this. Is setting up an LLC and buying through that the best approach ?. Perhaps as foregiin nationals there is extra red tape .. any advise is good advise as we are new to this ...

Cheers
Damien

Greetings Damien,

Do you have any idea which part of North Carolina you and your partners are interested in (coast, piedmont, mountains)? Is there a specific type of property that you are looking to get your hands on? I am located here in North Carolina so I may be able to be of some assistance in this if it is something that you are still interested in doing.

Hi Damien

Im not too sure about the LLC but there are several of investing in the States:

- Buying Tax Liens
- Tax Deeds
- Short Sales
- Foreclosed Properties
- Private sales

You are sure to find many opportunities in the current market but make sure you do your research thoroughly first.

Financial Freedom Gurus

North Carolina is nice area. Charlotte is one of the areas still appreciating in value. My brother recently purchased there. Foreign nationals, yes there is some red tape. Not so much in the contract aspect as there is in the mortgage. Only tax difference between foriegn nationals and residents is when the home is sold, unless it is a short term rental(under 7 months i.e. vacation/holiday rental). Atleast thats the way it is in my state 90% sure it is the same in North Carolina.

Also, I just helped my father purchase a home in Wilmington. beautiful area and some really nice homes on the intracostal or directly on the ocean!

Big negative when purchasing in a Corp or LLC is that your insurance and mortgage rates are higher.

Escott

I purchased a foreclosure on Lake Gaston for a fraction of its true value while we were on holiday last August. We paid 17% of the market value, I was taking to the realtor who we used for our rental home and he tolds me of the opportunity, so we took a look and snapped it up.

I rent it out to Corporate clients on a 6 month let. I'm in profit already!