Hey Trader,
Last week, we talked about why renting property in the states was more cost effective than buying.
However, there's an exception. Sometimes, buying a property is the best move.
But like everything else in real estate, it's all about location, location, location.
And buying property in another country can be a great strategy for diversifying your portfolio and opening up doors in the process to internationalize yourself.
Even if it costs a little more to buy than rent a seaside villa in Belgium, there are other important benefits international property ownership offers.
1. Privacy. Owning foreign real estate is one of the very few ways that Americans can legally keep some of their wealth abroad while retaining their financial privacy.
If the foreign real estate is held directly in your name (i.e., not in a trust, LLC, real estate fund, partnership, etc.) it is not reportable (although any rental income must be reported).
As always, be sure to consult your tax professional.
Read on for the other great benefits to purchasing offshore real estate…
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