US American citizen - any opportunities?

Discussion in 'Where to Buy' started by Gavin Ng, 22nd May, 2017.

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  1. Gavin Ng

    Gavin Ng Well-Known Member

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    Hey guys, over the last few weeks I have been reading up on investing/flipping/development in the USA. I was born in America and have a passport and that's about it, never travelled back to America since birth.

    Someone just mentioned to me that I need to lodge a tax return every year because I am a citizen earning foreign income and I thought stuff it, just going to cancel my passport.

    Then reading up on all this USA property and the fact it's hard to get finance for foreigners have got me thinking. Is this an opportinity for me?

    Is there a benifit in being a US citizen in respect to property investment/development?

    Thanks guys
     
  2. hash_investor

    hash_investor Well-Known Member

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    though you have to lodge it every year but it is a simple process. don't stress about it too much
     
  3. 380

    380 Well-Known Member

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    Firstly, I would get in touch with a US tax accountant and find out exactly what you need to do moving forward to rectify this issue etc. IRS is not like dealing with ATO which is a walk in the park in comparison

    If you can source finance in US you are one lucky person. Opportunities are everywhere because property markets in US have been booming since around 2011/12.

    Read my posts if interested in US, we have quite a few on the go at the moment

    Here is our last flip in Atlanta
    Atlanta GA - Renovation No. 2

    and here is our current project in Boston, which will be a condo conversion, still working on feaso and options to maximise land/buildings
    https://www.ten-x.com/commercial/de...mount-vernon-st-lynn-ma-01901-193051563-b_203
     
  4. Gavin Ng

    Gavin Ng Well-Known Member

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    Thanks for the replies guys, @hash_investor thanks mate, yes I was told I need to do an annual tax return but most probably would not owe any tax. @Be Developer, can you recomend a US tax accountant based in Sydney? I have been reading your posts with interest. I don't think I'm anywhere near making a move in the US market but I'm trying to do my homework now.

    Cheers
     
  5. 380

    380 Well-Known Member

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    I have an excellent US tax accountant in USA I can recommend, US tax law pretty complex I would suggest you use US and can do business via email/phone/skype not that hard these days.
    If interested just pm me
     
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  6. dabbler

    dabbler Well-Known Member

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    If I were holding any citizenship as well as AU, I would not let it go. But if I was traveling the Middle East a lot and some other Asia areas, I would not want to be a US citizen or using a US passport.

    The US opened up a lot compared to 2000 and prior, but I think it would be a plus money wise and business wise potentially.
     
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