r2i forum

I have returned to India and have an inherited house and an apartment I bought in Chennai. The current prices seem obscene and I wonder if we will face a crash. I am thinking of selling and buying multifamily apartment building in the US. Anyone done this and what is the best way to go about it? Are there tax attorneys that specalize in this sort of thing.

I know people here in India who bought house in US and now rent it out through property management and they say it is not much problem. But investing wise, I am thinking that is better right now? The prices in Chennai are obscene-reminds me of the boom days in US.

I was wondering about tax attorneys-anyone in India specialize in this sort of thing. Anyone who did this before?

Hello investing123, Sorry I will not be able to help you out. But you might be able to help me out! I am in USA and might return to India
next year. I am debating whether I should sell my home in USA at a significant loss or rent it out ? I want to explore both the possibilities fully before I take the next step. I am wondering if you can share the contacts of property management companies which your friends hired to rent out in USA ? Is it ok if I send you the private message ?

Thanks a lot!

Something to consider.
1. How will you repatriate the money? As I understand, you can repatriate only money (and profits from it) that you brought into the country.
2. If you are able to repatriate the money, will you still get mortgage (and leverage your profits) or outright purchase?
3. If you take mortgage, how will you pay for mortgage in months with no or fewer renters?
4. Property Management companies usually help you with finding and managing renters. You will still have to arrange and plan for house maintenance (repairs etc.). Some PM companies might help you finding the repair man, but it's easy for them to reap you off with unnecessary or excess repairs (e.g. when I was naive, a repairman charged me $190 to replace a $25 part).

Hope that helps your thought process. Another option is to buy REITs if you want to be invested in real estate market in US. Easy to get out any time.

okonomi;415073I did a search in the real estate board site of the R2Iclubforum and found a lot of discussions on the sale of RE in India followed by repatriation of proceeds to a foreign country, mostly USA. Click this link to get there.

Thanks okonomi-that very useful. I thought it was 100k limit for everyone. But must consult with somebody.

honeyglue-it is quite easy in US to get a property management. Many big companies are not interested in single house-unless it is luxury-but plenty of smaller companies. My friend has his managed by a realtor who also does property management and leases on the side. She has her own team of maintainance that she calls on. Bit more expensive, but very easy and not much hassle. Money comes regularly into bank account. But single house can be empty for months when tenant moves out. Not as easy to rent out as apartment complex.

I just amazed at prices in Chennai. between my house and flat, they are worth several crores and I looked and realized that for same price, I can buy a multi unit building (three or four units) in a decent area in CA itself. If I choose nevada, AZ, FL, I get more units. It just makes me wonder if our real estate in India is in a massive bubble. I went through US bubble and it just looks the same. every house seems to be worth crore or more! Another colleague's friend bought a town home in Georgia for $65k. A three bedroom, two bathroom townhouse with garage. Just seems there are good values in US and too much price in india?