Help Required From Middle Earth!!!!
Hi all I am currently living in New Zealand with the intention of moving to the US on a visa waiver (non-working) in 3 mths. I have heard about the opportunities of wholesaling real estate & as you all know it seems very exiting. I am keen to get involved, maybe purchase LeGrand's course or 1 similiar but first i need to know if it is even possible for a "non-citizen". I have family in the US which are willing to help if need be for bank acc etc, but I wont have a social security no. Is this a neccessity? I would really appreciate any feed back on my current situation as I am so keen to get over there and get started!
PS - I am applying for resident status but it takes awhile for us poor kiwis! 
Steve
-Dear Steve,
Looking forward to your arrival, ah another sheep for the shearing.
Watch your escrows in sunny Calif. in keeping with our reputation they are impounding 3.5% of the sales price each time a non registered or even a person residing outside the great state of California, presents as a Seller. No not 3.5% of the profit, the whole bloody price. Oh yes we are having the Statute of Liberty redone. Taking off all those little Statements of Intent along the bottom of her platform.
Rumor has it that there is a Pommy agent infilterated into the White House and all these changes are in revenge for some minor engagement on a place called Bunker Hill.
Also latest report from Westminister is that Georgie the Third is laughing so hard in his coffin they have had to add another strap.
However in keeping with the motto of TCI I have devised a method to avoid the impound 3.5% at time of sale. Just put the property in my name.
Oh yes, I do hope you are bringing with you The Ring!
Cheers Lucius
Not sure how to take your reply mate but in short does that mean I can wholesale real estate on a visa waiver? I don't want to invest $1500US on a course if its not phesable. I would really appreciate some straight answers on this. What are the abc's that are required to be a "flipper"? i.e. bank account, social sercurity no. etc.
Steve
A non-resident is allowed to buy and sell real estate in the US.
You will want a TIN number while waiting a SSN.
When selling there are withholding requirements according to a law called FIRPTA.
So I suggest you contact a Tax Attorney upon arrival. A good one, who understands real estate. He will be able to set you up properly.
Happy investing.
[addsig]
Recommend you take the remarks about withholding seriously. I have a green card now but when I first started working in the USA the IRS withheld 30% of everything I got, including expenses. Took a couple of years and a big accounting Co before I got most of it back again. If you're going to do this why don't you do business and hold title in the name of a family member here who is a resident? Until you get your own green card.
hey thanks for the direction/ advice I appreciate it!
PS Ron Legrand is coming to lil' ol NZ in March so I'll be able to attend his one-day workshop & get all the info/ low down, pretty exciting!!