Tempted to ask...

[inocent]

After reading questions and advice about owning/operating a business while on non-immigrant status, I am tempted to ask:

Can one on H1B, own and manage rental properties? Obviously this is an investment that generates potential profit.

 

[inocent]

Originally posted by inocent
After reading questions and advice about owning/operating a business while on non-immigrant status, I am tempted to ask:

Can one on H1B, own and manage rental properties? Obviously this is an investment that generates potential profit.

Thanks!
How about using a management company for day to day managment?
Also, managing account books, paying bills and taxes for such properties. I hope this is ok and not unauthorized.

 

[inocent]

Re: Re: Re: Tempted to ask...

Originally posted by JoeF
That probably would work.
Isn't that what a management company is supposed to do? Paying bills, etc., is part of the management duties of a business.
Passive investment is where you put your money into some endeavor and get dividends.

FYI: Management companies collect rent and manage properties but you are still responsible for paying mortgage and utilities and also managing your accounts. Do you see any problem here.

 

[inocent]

Re: Re: Re: Re: Re: Tempted to ask...

Originally posted by JoeF
Well, I don't know that particular business model. As a general rule, anything that has to do with running a business is considered work. And paying mortgage, utilities, managing accounts, etc. is all part of running a business. So I would consider that work which somebody on H1 can't do. But since this is somewhat special, you would be better off asking a good immigration lawyer.

Ok JoeF-
Here is an interesting case:
Investing in stocks. You need to keep records, manage accounts/books for tax purpose and for personal reference, buy and sell stocks and receive dividends. In short, you are actively indulged in an activity for profit (or loss!). Where does that fit in projected/restricted 'Immigration law' model here? Remember owning stock is like owning that business (fractionally).

SO here is my 2 cents:
1. You can own any business and pocket any profit as long as you are not involved in it's day to day operation.
2. On non-immigrant status, you are not allowed to enter into any kind of employment with out BCIS authorization.

Again this is my personal opinion and must not be accounted as legal advice.