How do Chinese purchase US Real Estate?
It is widely known in the United States that the Chinese are buying up real estate in Nevada and California. But how can that be? Chinese are only allowed to do so at a rate of $15,000 per year. One thing that the Chinese have to their advantage is large families. Mother’s, Father’s, Sister’s, Brother’s, Nephew’s, Niece’s, Cousin’s and even second cousins can all go in and buy properties together. This changes the investment from $15,000 to $150,000 – $450,000 very quickly enabling the Chinese to make purchases of all cash on American soil.
One company that facilitates these transactions is Renown® Real Estate Services with headquarters in Reno, NV. Renown®, through it’s vast network of agents, translators, property managers and investment guru’s is able to assist families in the acquisition of real estate in all of Nevada and California. Typically a family will appoint one family member to be in charge, that family member then wires all monies from each family member to an account in the United States of America. From there, the appointed family member makes contact with a Renown® Realtor