Purchasing property in the USA - laws, charges and so on?

Discussion in 'General Property Investment Discussion' started by jesscageorger, Sep 17, 2018.

  1. jesscageorger

    jesscageorger New Member

    Hi.

    I am hoping to purchase a getaway home in Southern California, either In Los Angeles or Palm Springs. I travel there a great deal for conferences and so forth and inns cost me a considerable measure. I have enough to purchase a house in real money (no home loan required).

    I'd in a perfect world lease the house for individuals that are traveling there, and utilizing it as a base, since like I said vitally I travel there a considerable measure.

    What are the laws on outsiders purchasing property therefore and what sort of charges would I pay on the rental wage?
     
  2. diyhelp

    diyhelp Active Member

    I am reading that it is ok for foreign investors to buy property in the US but it can be tricky arranging finance. However, surely traditional UK banks have branches in the US?
     
  3. wealthbuildingrealestate

    wealthbuildingrealestate New Member Forum Partner

    In regards to your inquiry of "what sort of charges would I pay on the rental wage"....it would probably be beneficial to connect with a property management company that's in the Los Angeles, or Palm Springs are in which you mentioned in your post. They should be able to give you some feedback regarding the proper strategy based on your preference of the property being a short term rental during the periods in which you're personally not visiting there. Typically, the standard fees are 10% of the rents collected, but their fees may vary (initial set up, or marketing fees). Hopefully, this info was helpful.
     
  4. diyhelp

    diyhelp Active Member

    Personally I think that standard fees of around 10% offer good value to give investors peace of mind especially those living in different countries. Many people also fail to measure this cost against their own time if they were to personally manage their property portfolio. The fact they are investors means their time is probably better spent looking for the next deal as opposed to collecting rent, arranging repairs and even evicting troublesome tenants?
     
  5. NehaS

    NehaS New Member

    Do yourself a proper study and after that think about investment. Rules and regulations are highly different according to the state, country. It would be always good when we do the proper study about it.
     
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