Owning Rental Property

gravitation · #1 9th June 2005, 03:22 PM

Greetings everyone!

I'm currently in US on H1-B visa. I'd like to own a rental property. My understanding is that it's legal as long as I hire a property management firm to handle all aspects of managing it. But... I'll have to do a few things, getting a mortgage, visting a few properties myself, having the property inspected, inspect it myself,

Can it work? The more I research, the more I get confused. I want to do everything strictly by the book.

Thanks,
Gravity

niravmd · #2 15th June 2005, 11:07 PM

according to the IRS, owning rental property is considered a passive activity.
i asked 2 immigration attorneys and they said it was alright as well.

gravitation · #3 17th June 2005, 12:22 PM

Thank you Nirav.

Thread Tools
Show Printable Version Email this Page
Display Modes	Rate This Thread
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode	Rate This Thread:

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Already owning agriculture property, any problem	punyavan	Overseas Citizenship of India (OCI) Issues	8	14th September 2006 02:27 AM
Rental Property	lambu_dada	Starting and Doing Business in USA	0	14th February 2005 12:22 PM
US Citizen owning property in India	pande2001	US Citizenship	6	19th October 2004 10:59 AM
Owning a property and business while on H1 Status	MANISH CHHEDA	General H-1 and H-3 Visa and Related Issues	1	18th March 2004 11:26 PM
H1b - Owning rental properties in LLC ?	raj_jk	Starting and Doing Business in USA	0	23rd February 2004 12:00 AM

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)