Owning “real” property is a dream and a goal for many people all over the world. Unlike most nations, property ownership in America is generally unrestricted. You do not have to be a US citizen (or resident) to purchase property in America. You do not even have to live here. All you have to do is have a desire and understanding to take advantage of the greatest property free market in the world!
Why entrepreneurs all over the world like American real estate
As well as being open to purchase, US real estate is protected by strong legal support for property rights. Government confiscation of property on the basis of ownership (outside of criminal activity) is virtually unheard of. Country risk is non-existent in the United States, the powerful, pro-business economy in the world.
The best time to buy may be right now
This is a great time to buy property in the US. Like every place else, the US real estate market suffered briefly from the global recession. Property values slipped. They are now on the way up, but far from fully valued. Anyone who buys US real estate can be hopeful that there is still plenty of room for growth. The American market is also getting “hotter” with all the foreign capital that flows in every day from high-tax and bureaucratic countries. There is a lot of wealth seeking a secure second home, and few investments are as safe as American real estate.
So many great US locations to choose from
Where you buy in the United States is important and it largely depends on your financial and personal objectives. If you are looking for a vacation home, the US offers everything from the easy going lifestyles of Florida and Hawaii to the magnificent winter playgrounds of Colorado and Idaho. If you seek investment property there is a blazing hot renters’ market that exists everywhere from Las Vegas, Nevada to Memphis, Tennessee. The fact that many Americans find themselves, at least for the moment, unable to purchase houses means that there is a heavy demand for rental homes. One very important thing to remember, however, is that after you identify your goals and the locations that you feel are most promising, you need to find a good broker in that area. All real estate brokers are licensed by the state in which they practice. There are companies that are nationwide in scope, but they consist of chains of local offices. So if you are interested in three different locations, find three different brokers. A good broker has a deep knowledge of local conditions and can guide you through pitfalls to the happy ending of securing an excellent property.
Use an American corporation or Limited Liability Company (LLC) as the best way to own property
Once you have identified your property you need to acquire it. Unlike many countries, there are few restrictions in property ownership. In America, there is no discrimination against non citizens or non residents. Almost anyone may purchase. Naturally, with ownership comes responsibilities. That is why it is by far better to purchase property not as an individual, but as a corporation or a limited liability company. This is particularly true if you are acquiring rental properties. Purchasing these through an inc or an LLC will limited your personal liability. It will also simplify taxes, transference to your heirs and future sale of the property. The corporation, or limited liability company, which you own, will purchase and own the property and be responsible for all aspects of its management. Find out more about incorporating your real estate investment.
A great way to participate in the American Dream
If you purchase US real estate, whether as a rental or resale investment, as a vacation home or even as a primary residence, you a acquiring a stake in a fantastic marketplace. Over time, property has been a leading component of US wealth building. It should only become better as capital from all over the globe continues to purchase American property seeking a stable home in a stable country.
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