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My few cents,
If you buy one property then it makes no difference and a waste of money (unless other assets in the US). A single member LLC is disregarded for tax purposes and you have to get an ITIN number and lodge a personal tax return in the US.
I have 6 properties in varies states and have set up multiple LLC’s and hold app $100K in each (asset protection) LLC single member is an Australia Trust (so common ownership).
In many states you can set up your own LLC online for $50-100.00 but you need a registered agent in the US which cost around $100-125 (sometimes your management agent offers this service)
You need separate bank account and conduct all LLC business separately otherwise if you “mix things” then the protective veal can be pierced.
Ps: Just bought a property in Detroit for $27K renting for $1350 per month. Unbelievable.
Hi There,
I did notice a property advertising by them that appeared about $10-15K overpriced. I own property in MI, GA and FL. Different reasons for buying. Believe in the asset class, the timing but also in diversification within the asset class.
MI got very high rental return, gross 40%+, GA 20+ % and FL 18%.
Personally favour FL due to app 70-75% drop in prices and good rental returns. Fact is that more often than not Boom and Bust happens in the same areas every time.
People keep moving towards the sun. Same all over the World and US no different.
Some areas promoted here seem to have little capital upside as well as average rents.
