Can I buy a Condo/Towne Home and Rent it being on H1B Visa ?

Asked about 2 years ago - Atlanta, GA

I want to buy a foreclosed condo and rent it. Is this permitted on H1B Visa ?

Attorney answers (4)

  1. Irene Arfaras Steffas

    Contributor Level 12

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    Answered . Purchasing a cond and using it as rental property is equivalent to buying stock and waiting for dividens. Such a purchase is not in violation of your H-1B.

  2. Giacomo Jacques Behar

    Pro

    Contributor Level 20

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    Answered . I would say yes, since investing in U.S. real estate property is not an considered an activity "inconsistent" with your H-1B Professional Worker status, provided you continue to maintain valid H-1B status.

    Behar Intl. Counsel 619.234.5962 Kindly be advised that the answer above is only general in nature cannot be... more
  3. Kevin Lawrence Dixler

    Pro

    Contributor Level 20

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    Answered . The challenge with any investment is that there are risks. If you lose your H1b position and must leave the U. S., then the investment may prove questionable.

    In addition, foreigners often don't qualify for mortgages unless they are lawful permanent residents or naturalized U. S. Citizens.

    A false representation on a mortgage form that you are either may indefinitely affect your right to a greencard or visa. It will be important that you carefully read all forms. Perhaps, this may not be such a good idea unless you can pay the entire purchase price.

    This is general information, not legal advice, and does not create an attorney client relationship.
  4. J Charles Ferrari

    Contributor Level 20

    2

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    Answered . I agree with my colleagues.

    J Charles Ferrari Eng & Nishimura 213.622.2255 The statement above is general in nature and does not... more

Related Topics

Visas

There are many types of immigrant and non-immigrant visas, including work visas, student visas, and marriage visas.

H-1B specialty occupation visa

If you have special skills and the right experience, you might be eligible for a H-1B visa if there is a shortage of qualified workers.

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