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  • Profile photo of davidgkarpdavidgkarp
    Member
    @davidgkarp
    Join Date: 2011
    Post Count: 3

    It was good meeting Alex last week.  I drove down from Charlotte to his office in Rockhill, SC.  I appreciate Alex taking some time to walk me through his business model and meeting people in his office.

    I agree that most won't reach the FIRPTA requirement.  And as I noted in my original post at the top of this string, "Investors would do well to consider properties in less expensive cities in the US."  I am glad I raised awareness of this tax law, as it would hurt to learn it the hard way.

    David
    [email protected]

    Profile photo of davidgkarpdavidgkarp
    Member
    @davidgkarp
    Join Date: 2011
    Post Count: 3

    This is such a great value add to all the readers of these posts. So congrats for getting the ball rolling and giving everyone the benefit of your research. I would also add that a good place to start is by considering which market in the US to pick from, as they are so vast and different. There has been some good research by others on this, including the following link to the Kiplinger's web site article on Best Value Cities in the US: http://www.kiplinger.com/slideshow/best-value-cities-2011/1.html

    Another good one is the "emptiest cities in the US by CNBC and repeated here at Yahoo Real Estate (so places to possibly avoid): http://realestate.yahoo.com/promo/americas-emptiest-cities-2011.html

    I am an Australian and have lived and worked all over the US for the past 16 years and have lived and worked in Charlotte North Carolina for the past 7 years and have used each of these guys repeatedly. I get no referral fees for providing their information here. Just the satisfaction of referring top guys in their business in the Charlotte North Carolina market.

    For all mortgage related stuff – Scott Schumann – email is [email protected]

    For all legal/title/closing work – Jaime Kosofsky at [email protected]

    I have some great property management contacts and property inspection folk as well.

    And one last thing, anyone investing in the US needs to understand the IRS rule known as FIRPTA – follow this link to learn more about this tax that is due when you sell your US property: http://www.irs.gov/businesses/small/international/article/0,,id=105000,00.html

    <moderator: delete advertising>

    David Karp
    [email protected]
    http://www.walkaboutpropertiesusa.com

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