Buying multi-unit house on H1b and renting out

S

sultanat.m

New Member
Buying multi-unit house on H1b and renting out
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Hi, Question for all experienced/experts people living in the US for sometime:
I am on an H1b visa employed with a company. I plan on buying a multi family house (4 units) and rent all of them out while living somewhere else (or possibly living in one of the units). This investment will be solely mine and is not incorp. or LLC.

* Can I legally do that on this temp visa?
* Can I declare rental income in addition to my regular employment income on my taxes?
* Will this affect the current GC process I have been filed for?

I will be doing everything myself including finding tenants and doing the repairs on the property, mostly during the evenings after my current job time/weekends.
Sound advice, from someone who has invested in this style before, will be appreciated. (Half information/guesswork is dangerous)
Thanks much. -RM
 
H1B and renting real estate

Suntan,

Have you received any answers to this question alread?

I also have the same question and was told it is OK to do this and have to file Schedule E as part of 1040.

Please let me know what you think.
 
You can do that

Yes you can buy property on H1B Status as long as a Mortgage company is ready to give you loan. Many Mortgage companies would not give you loan if you don't have GC or Citizenship.

Buying & Renting property is just like investing your many in stocks and making profit out of it.

Usually if some one wants to do Buying and Renting property (kind of Real Estate business), they do that as a Company due to Insurances, Licenses and Legal issues. May be you need to think about partnering with some one who has GC or Citizenship and invest money in there.
 
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