I don't think just keeping these dollars in the bank is doing anything for me. I consider buying property instead. maybe it's a good time to do this now. can a non american citizen buy american land/house? do you think this is a good investment?
2007-10-03 08:56:10 · 8 answers · asked by sarah kay 5 in Business & Finance ➔ Renting & Real Estate
changing dollar to euro in order to buy something is not a profitable option now. so i have to invest in something in the states. i guess that makes sense. i am a european union citizen. does american law allows this?
2007-10-03 09:00:05 · update #1
This is possible, and it is a very good idea!!! The euro is worth 1.4085 USD as of today. This means that for a $1 million apartment, you would only spend 709,949.97 Euro. Add to this that property in New York is always on the rise due to high population and demand for a place to live, and it becomes a great investment. In order to do this, I would reccommend getting in touch with a real estate brokerage that is known world wide such as Morgan Stanley http://www.morganstanley.com/realestate/. They will inform you of your options, and any rules or regulations involved with international real estate. Good luck, and I wish you well.
2007-10-03 09:10:09 · answer #1 · answered by David L 2 · 0⤊ 0⤋
No, this is not a good investment. People think that real estate (buildings, houses, apartments, etc.) are good investments, but they are not as good as people assume. I agree that keeping money in the bank yields a low interest rate. However, you have 2 better options than real estate:
1. Put your money into an online savings account. Those accounts will return approximately 4.0 - 4.5% interest, which compounds monthly. So, for example, if you put $1,000 into an account, the first year, you would make $40. The next year, the interest would be based on a higher balance, so you would earn $42 more, and so on. The best advantage to these accounts is that there is no risk. You are guaranteed not to lose money.
2. Invest in stocks. Stocks return a higher amount than real estate. PLUS, and again more importantly, because you could invest in hundreds or thousands of stocks in a mutual fund, your risk is alot less than investing in one building. One building could lose a ton of value, just like one stock could. But, a whole mutual fund, which has thousands of stocks, could never go bankrupt.
If you want to talk in greater detail, let me know. But, whatever you do, don't go into real estate. People have lost ALOT of money in real estate in the past several years, and that trend could continue.
2007-10-03 09:43:59 · answer #2 · answered by mike 2 · 0⤊ 1⤋
There are no restrictions on property ownership in the US. Contrary to what another poster stated, you do NOT need residency in the us, a green card, SSN or any such documentation.
If you are considering investment in the US, keep in mind that here is a 30% source tax on investment income for non-resident aliens unless a tax treaty provides for a lower rate.
2007-10-03 09:24:30 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Well, you dont have to be an American, but you have to have documents that state you are able to live in NYC. Such as a green card, social security #. Or what you can do is, if you know someone that lives here, have them buy property for you, and what ever investment you get, they send it back to you.
2007-10-03 09:04:23 · answer #4 · answered by desitur 2 · 0⤊ 1⤋
EU money is worthless to the american citizens. Of course you can buy a house but you need to tell the government before you do so.
2007-10-03 10:20:03 · answer #5 · answered by Mal-mal 2 · 0⤊ 0⤋
not really sure of the laws but new york is a good place 2 make an investment shucks they r selling parking spaces @ 250k & up so i would go 4 it best wishes on all your endevors
;-) do the darn thing u go girl i doubt if u will b dissapointed
2007-10-03 10:28:29 · answer #6 · answered by nunya 3 · 0⤊ 0⤋
specific, you may desire to take any further money you have and purchase American. In 3 or 4 years the Canadain Loonie would be decrease back to .70Cents U.S. The U.S. is the suitable u . s . in the international and is going by a perplexing time awesome now. New president next 3 hundred and sixty 5 days, out of Iraq in 2 years, end of the last decade decelerate and then it relatively is going to be decrease back extra suitable than ever. you in straightforward terms will must wait and notice. think of in case you purchase $one hundred,000 U.S. awesome now and the Canadian greenback falls decrease back to .60 U.S? it is going to ensue in time. certain!
2016-10-10 05:58:49 · answer #7 · answered by ? 4 · 0⤊ 0⤋
Steady on there Sarah. Keep your life simple. You need to know what you really want. If you dont - the golden word is WAIT.
2007-10-03 09:42:36 · answer #8 · answered by Anonymous · 0⤊ 1⤋