Evening the Playing Field for Foreign and Younger Buyers
Let’s be honest, sometimes when a foreign individual or company or younger person attempts to buy a property or business in the USA they are either taken advantage of or there offer is not accepted. This is wrong and in my personal opinion, Un-American. American is a melting pot from people from around the world. Companies and individuals can own and prosper owning a piece of America and the American dream. Some of you reading this know understood the ethnocentrism and preconceptions everywhere in the world and the USA is no exception. Just because live or are from another county, young or speak with an accent other should not try to take advance of you.
This is where I come in as your exclusive Buyer's Agent working for a well know multi-billion-dollar USA company here in the America. I am at times treated differently and able to make deals that you or your company many find more difficult. Wrong, I know, but true. I even the playing field as your commercial investment real estate representative. For those of you reading this and have not traveled and tried to purchase property in other countries, note that many countries have rules where only the citizens of that county can buy property. I am proud to say one of the reasons we have people from all over the world come to America is they can own a business and property and remain a citizen of their county.
As your Exclusive Buyer’s Representative, I find and make offers on behalf of you. These offers can be made either anonymously (no one knows you or your company are buying) or after an agreement “LOI” is signed your team, usually with lawyers and accounts, are introduced to close the transaction. If you are aware of business or property you want to purchase and need someone to contract the decision makers to make an offer, I will be happy to do so. I have done this before for clients and closed the opportunities successfully. Some reason way you may want to done this are: You or your company is known by the competitor who would never sell to you, or sell to your company at a fair price. OR You are buying multiple properties in the area and if someone knew someone outside the country or new young billionaire was buyer, the prices of all the properties around the area would rise before having an opportunity buy at a logical price. I have in the past personal bought mineral rights in Texas for a client. I was seen as a stupid California investor until it came clear another pay zone existed and fracking on a horizonal drilling was feasible, multiplying the value of the mineral rights many many times over.
Besides having myself (and the team) representing you, you might consider lined up:
1. A Bank that has branches or is based in USA. One that can transfer foreign funds and hold and season the funds. Many times, a US Trust rather than a Bank is more logical. It is best to have the funds already in the USA and seasoned before making an offer. This is not necessary, but I do recommend it.
2. A Business Bank
3. Create a US Corporation to which to buy the business or properties. Again, this is not necessary but there are advantages. I prefer a C-Corp. You can sell your holdings by selling the stock to another entity. More importantly, you can sell part of the holdings without having to sell your entire ownership.
4. Corporate Resolution for Signing Authority. Who can sign for you or on your company’s behalf? This can be limited and specific (which I would suggest) but, of course, consult an attorney.
5. An Attorney
6. A Good Certified Public Accountant (CPA) or accounting firm w which you are comfortable.
7. Escrow and Title companies that are both Soc 1 and 2 Certified. Transferring of ownership and funds need to be done correctly with safeguards.
8. If you are investing as an absentee landlord, a property management company needs to be found and in place. If business or company is what you are buying, then a manager is needed. Both would report to someone in your Corporation giving sales and income statement, checked by your accountant and/or CPA and funds deposited into your Business Bank, Bank or US Trust Account. As a US-Corporation you pay corporate taxes, but also have amazing write offs. Once taxes are accounted for, then you can have distributions to shareholders or simply let the funds build up in the company to buy more properties and/or business opportunities. If you want more funding for additional acquisitions (perhaps a gold mine property, apartment complex or company), you can bring on partners by selling stock (a percentage of your corporation) or make a loans to the company (there are tax reason way you would make it loan, but you need to talk to a CPA about the reasons). Just consult with a good attorney and accountant/CPA to discuss what is best for you and the company.
Contract me if you are interested and would like to move forward in owning a piece of America.
The best time to plant a tree was 20 years ago; the second-best time is now!