3 Houses worth in total nearly £2 million sell or rent???

Snowatlast

Norman I am looking for advice . I don't care about your non relented opinion.

AdrianC

Oh, and don't forget CGT on your two non-residences.

Norman_Castle

Snowatlast wrote: »

Norman I am looking for advice . I don't care about your non relented opinion.

I don't care if you don't care about my non relented onion.

Snowatlast

Care much.Norman Castle
Join date: 25-02-2009
Last activity: Today 10:42 AM
Current Activity: Viewing Thread 3 Houses worth in total nearly £2 million sell or rent???

Snowatlast

I want advice please.

00ec25

Snowatlast wrote: »

I want advice please.

talk to your grandparents, they seem financially astute?

spend some money on English lessons?

work out your post tax actual cash position, then reassess possibilities?

find out the rules for a green card to the USA and eventual citizenship?

AdrianC

Snowatlast wrote: »

I want advice please.

Do you want different advice from that you've already had?

It's simple. These properties are mediocre investments viewed solely from the rental income. Are you willing to gamble on future growth? 57% before tax over a decade is not great, either - just over 4%pa compounded. Add that to the ~3% rental income, after expenses, and you're at 7%. Don't forget all the tax implications, or inflation.

Oh, and if you become a US resident, don't forget the impact FATCA will have on your non-US investments. Factor in currency movements, too.

You are looking at a massively non-diversified, illiquid investment, with a so-so return to show for it.

Mela322

I think you would benefit from more advice about traveling to the US and attempting to change your status. You can't go over on a visitor visa and then change to a US Citizen. There are very few exceptions to that. You would have to apply at the US Embassy in London just like everybody else. And if you get married while on the tourist visa, there is no guarantee they will grant you citizenship.

ognum

What you need is an accountant to give you some basic Property advice and an immigration specialist to advise you of your ability to travel and live in the USA.

Regarding your properties:

Do you have valuations of the properties when you inherited them?
What level of tax do you pay now on your income?
Have you worked out your capital gains tax liabilities if you sell your rental properties?
Have you kept full records of your outgoings and the tax you have paid on your rental income?
If you were to sell what would you do with the money?
Have you got a buisness plan that tells you the interest you are making on your properties following deductions, management fees and outgoings.

All your question does is create more questions, many, many more questions.

Until you have answered these questions there is no right answer.

Your conversion from pounds to dollars is incorrect.

You need to work on facts no superstitions.

Cakeguts

Interesting how you are asking for advice about running these houses as rentals and how you haven't asked about how to work in the US. I dread to think what sort of landlord you are or are likely to be since you seem incapable of doing even the smallest bit of research into this silly plan.