Buying and selling house while on H1
Dec 18th 2002, 11:21 pm
#1
Guest
Posts: n/a
Buying and selling house while on H1
Hi all,
Is it illegal to buy and sell a fix upper house while on H1? I know I
can buy a regular house with an average mortage for owner occupation.
What if I want to buy a house that needs to be fixed, and sell it in a
six month? Am I violating my status? Thanks in advance.
Sam
Is it illegal to buy and sell a fix upper house while on H1? I know I
can buy a regular house with an average mortage for owner occupation.
What if I want to buy a house that needs to be fixed, and sell it in a
six month? Am I violating my status? Thanks in advance.
Sam
Dec 19th 2002, 2:56 am
#2
Guest
Posts: n/a
Re: Buying and selling house while on H1
>Subject: Buying and selling house while on H1
>From: [email protected] (Sam Morris)
>Date: 12/18/02 7:21 PM Eastern Standard Time
>Message-id:
>Hi all,
>Is it illegal to buy and sell a fix upper house while on H1? I know I
>can buy a regular house with an average mortage for owner occupation.
>What if I want to buy a house that needs to be fixed, and sell it in a
>six month? Am I violating my status? Thanks in advance.
>Sam
nope. You can do what you want with it. Sell it, give it away, burn it down
(as long as you don't violate local laws or claim insurance on it
>From: [email protected] (Sam Morris)
>Date: 12/18/02 7:21 PM Eastern Standard Time
>Message-id:
>Hi all,
>Is it illegal to buy and sell a fix upper house while on H1? I know I
>can buy a regular house with an average mortage for owner occupation.
>What if I want to buy a house that needs to be fixed, and sell it in a
>six month? Am I violating my status? Thanks in advance.
>Sam
nope. You can do what you want with it. Sell it, give it away, burn it down
(as long as you don't violate local laws or claim insurance on it
Dec 19th 2002, 3:37 am
#3
Guest
Posts: n/a
Re: Buying and selling house while on H1
Sam Morris wrote:
>
> Hi all,
>
> Is it illegal to buy and sell a fix upper house while on H1? I know I
> can buy a regular house with an average mortage for owner occupation.
> What if I want to buy a house that needs to be fixed, and sell it in a
> six month? Am I violating my status? Thanks in advance.
>
> Sam
I don't see how the purchase of a house could violate your status. If
the bank will provide a loan you can buy it. I know a couple both from
Canada on TN-1 who recently purchased a house and a TN is not even a
"dual intent" visa like the H-1.
>
> Hi all,
>
> Is it illegal to buy and sell a fix upper house while on H1? I know I
> can buy a regular house with an average mortage for owner occupation.
> What if I want to buy a house that needs to be fixed, and sell it in a
> six month? Am I violating my status? Thanks in advance.
>
> Sam
I don't see how the purchase of a house could violate your status. If
the bank will provide a loan you can buy it. I know a couple both from
Canada on TN-1 who recently purchased a house and a TN is not even a
"dual intent" visa like the H-1.
Dec 19th 2002, 1:50 pm
#4
Forum Regular
Joined: Dec 2002
Posts: 43
I think Sam's intention was to buy the house as an investment, so he is wondering if this 'business' venture is legal.
Yes, I believe it is legal because it is an investment and anyone can invest in the US. You will be subject to capital gains when you sell.
Yes, I believe it is legal because it is an investment and anyone can invest in the US. You will be subject to capital gains when you sell.
