Buying property on F1 visa

[iishlegend 1]

i'm on f1 status currently, and will be in the us for another 2 years. i have enough cash to pay for a house in full. but can i do so? what are the implications?

[Gosia & Tito 199]

i'm on f1 status currently, and will be in the us for another 2 years. i have enough cash to pay for a house in full. but can i do so? what are the implications?

You can buy a house regardless of visa or status; but 2 years is short time to make any money if you are looking at flipping it. Once your F-1 i up, having a house (and/or trying to sell) is no reason to defer departure. Moreover, you might have to sell it at a low price once you are pressed with time.

I suppose you could rent it out and then use the revenue, but not being around would mean you then have to hire a management company to handle it.

The only -risky- reason to buy is to sell it later in a upswing market, assuming you can buy something now at a discounted price like a foreclosure (or a discount because you can pay cash directly to a seller) and assuming the market goes up fast enough so it beats other investment options.

At best, you can make good money when you sell, at worst you could be stuck with a property for sale for a long time, which would tied down your cash flow.

[iishlegend 1]

thanks for the informative reply!

i'm thinking more of buying a home here and keeping it for the rest of my life. some questions came up to my mind:

1) is there a visa available, like an investor visa, for foreign property owners?

2) in 2 years i'll be on a visitor visa. if i want to continue staying in my home here, how long do i need to be out of the usa before reentering on a tourist visa?

[aaron2020 11,651]

thanks for the informative reply!

i'm thinking more of buying a home here and keeping it for the rest of my life. some questions came up to my mind:

1) is there a visa available, like an investor visa, for foreign property owners?

2) in 2 years i'll be on a visitor visa. if i want to continue staying in my home here, how long do i need to be out of the usa before reentering on a tourist visa?

1. Owning US real estate gets you no visa or immigrant benefit. Real estate is specifically not countable for an investor visa. It does not create 10 full time jobs and only you benefit from living in it.

2. USCIS will see your temporary time outside the US as a sham while you try to illegally live in the US.

Your plan will not work for the purpose you want. Owning US real estate gets you nothing. It will actually make it harder for you especially if you do not own a primary residence outside the US.

The living with relatives outside the US while the only real estate you own is inside the US sure makes it looks like you are illegally living in the US.

People in your situation (short stay in the US - 2 years) don't buy real estate. You are putting up a big red flag for yourself for any future visa or entry into the US.

Edited March 10, 2013 by aaron2020

[CC90 90]

People in your situation (short stay in the US - 2 years) don't buy real estate. You are putting up a big red flag for yourself for any future visa or entry into the US.

People that haven't even set foot in the US buy real estate. It's an investment at the end of the day; the fact that he/she owns real estate by itself presents no "red flags."

However, living in the US on a tourist visa in 6 month increments (regardless of property status), does present major problems.

[iishlegend 1]

thanks. i really love it here. seems like i need to work harder for a legal visa.

[DC85 113]

you can get an immigrant visa, GC, if you open a business and hire 10 Americans, Capital of $ 1,000,000

http://www.uscis.gov/portal/site/uscis/menuitem.eb1d4c2a3e5b9ac89243c6a7543f6d1a/?vgnextchannel=cf54a6c515083210VgnVCM100000082ca60aRCRD&vgnextoid=cf54a6c515083210VgnVCM100000082ca60aRCRD