REI by non citizens and residents - Posted by BRS

Real Estate Investing Real Estate Law
#1

Posted by BRS on March 18, 2002 at 06:41:57:

Thank you for providing your advice, John. I have talked to a few immigration attorneys. Two out of three, when I gave the example of buying and selling stocks, said they didn’t have a problem with rei as long as one didn’t get into the “work” aspect of doing rei as they are both assets that are being invested in. And all said I could invest in re if I were to live in it or if I were residing outside the country and did re investments in this country. Since I don’t want to do anything illegal, I also wanted to post here and see if those who are actually involved in rei had maybe experience in such a situation or had more informed opinion from exposure to such a specific case before.

What I’m trying to understand is if indeed the analogy between stock market investment and rei (that doesn’t involve “work”) holds and can be taken as a basis for action. I will still talk to other immigration lawyers, but I would very much appreciate it if you can give your opinion on this analogy as a re lawyer. I also would appreciate it if anyone else who might have had experience in such circumstances share their opinion.

Thanks,

BRS

#2

REI by non citizens and residents - Posted by BRS

Posted by BRS on March 16, 2002 at 05:01:19:

I am interested in doing RE investment. I’m legally residing here, but I am not permitted to work.

Although working and investing are two different things, my understanding is that the state agency which may question me later if I were to apply for permanent residency has a broader definition of work; work such as rehabbing and managing property would not be looked favorably by that agency. Also I am not sure if there are any limitations on the number of re transactions one can do without a work permit even if you hired others to do that kind of work.

Given this limitation, what type of rei transaction(s) do you think would be most suitable and have the best returns in my situation? Notes, tax liens, buy and hold and hire others to do the work, or any other type?

I will appreciate any of your comments.

BRS

#3

Re: REI by non citizens and residents - Posted by JHyre in Ohio

Posted by JHyre in Ohio on March 18, 2002 at 05:50:11:

Outside my area of expertise…you need to talk to a good immigration attorney. The INS was a pain in the you know what before September 11…now they are probably flat out impossible to deal with. Do NOT mess with this, talk the lawyer!

John Hyre