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I'm on H1B with I140 approved with full time employment in MA. Planning to invest in real estate with our friends(Green card holders) We prefer purchasing in Texas and incorporate the property into LLC instead of buying property on individual name. My role here is just to equally invest on that LLC and apply for mortgage. GC holders will primarily shopping homes in Texas/zoom meetings with realtors/property managers and looking after all those purchase process. Any rental income/loss get divided per share to the investors. We will have property manager looking after the property and rentals. I have no plans to work or make any active role or draw any salary with this LLC but only investing. I have below questions now. 1) Can H1 be part of new LLC without violating to my primary job with my current employment. If so, what role should I define to be in that LLC. Any specific wordings/Clauses that I should put while forming the LLC for my partnership? 2) Does Texas any specific clauses for this type of investments as we are across different parts of country and a mix of H1B and GCs. 3) Can the spouse on H4 EAD be part of that LLC and do invest out from her savings or borrow.
User's Location: boston, Alabama, United States of America
Category: H1B Visa (Work Visa)