Dear readers, We challenged you last week to ask all the questions that came your way! We selected 10 of them. Here are the answers to these!
Hello, how is it at the tax level? Thank you in advance.
There is an agreement between the United States and certain European countries (Belgium, France, Luxembourg and others) that has been put in place to avoid double taxation.
Upon request, JustInvestNow handles the tax return for investors.
My question is: when we buy a house, when do we get the first rent? What is the procedure?
1. We start with the purchase procedure.
2. We confirm the selection of the house.
3. We proceed to the signing of the promise to purchase + down payment.
4. We are waiting for the deed of sale date (usually 1-4 weeks).
5. We close with the official signing of the deed of sale + the full transfer to the notary of the amount remaining to be paid.
6. If the promise to purchase is “April 1st”, the date of the maximum deed of sale on “May 1st” -> The rent for the month of May will be paid to the owner.
Hello, how much do you pay as a management fee each month for JustInvestNow? Thank you for your question-answer.
JIN’s management fee is 10% per month on rent.
Hello, I was wondering what is the significance of the tenants “section 8” that you often mention in your publications? Thank you
Tenants “Section 8” are tenants supported by a government agency. All or part of their rent is paid directly to the owner by the program on the 1st of each month. These are guaranteed rents for our investors.
(In the United States, 2.1 million households benefit from the Housing Assistance Program “Section 8 of the United States Housing Act” of 1937).
JustInvestNow works mostly with Section 8 tenants.
What happens if a tenant does not pay? Thank you.
This happens very rarely because we work a lot with tenants “Section 8” mentioned above. If in an exceptional case it happens, here is the procedure:
– If the rent is not paid before the 7th, we send an expulsion notice.
– If 7 days later the tenant has still not paid we begin the process for the eviction.
– Once the date of judgment, it goes very fast. On average 3 weeks – 1 month.
Hello, what are the returns of your goods?
We are in an average of 10 to 20% net of the year.
– A home at $ 50,000
– Property tax: $ 1200
– Rent / Monthly: $ 800
– Insurance: $ 700
– Management (JIN): 10%
Calculation to estimate profitability:
800 (Rent) X 12 (Months) : 10 = $ 960
9600 – 10% (Management) – 700 (Insurance) – 1200 (Taxes) = $ 6740 net of the year.
6740 / 50,000 (Home price) = 13,5% annual net yield.
Good evening, what are the taxes to pay?
The taxes to be paid are the property taxes of the property. That is a local tax due every year by the owner of a property. They will be deducted automatically by our management company when the time comes.
Hello, how is it at the payment level? Where does the money come from? Thank you for this questionnaire!
– To begin we open for the investor an LLC type company.
– Then we open a bank account.
– We send the customer a MasterCard in his name, in complete security.
– Once the card is received, the customer will have access to an online portal with all his data and details that he can check at any time.
– It is on this that the rents will be paid each month.
Warning! It is also possible for the investor to be paid on his personal bank account BUT the payment thereof will be quarterly + bank fees at his expense.
Hello Justinvestnow, are there taxes to pay when withdrawing money from the United States?
No, only standard banking fees when withdrawing with mastercard and the change of device between the two countries but no taxes.
How is the management of our properties every month? What must we do? Thanks, have a good day.
The goal is that you do nothing. The tenant of the property pays his rent to our management company every month. Our management company takes care of removing the management fees (10% JIN) and insurance + 2 times per year the property taxes. The rest arrives immediately on the bank account of the investor.
We hope you liked this question / answer and that we answered it as you wish! In case of other questions we are always available at the following address:
Our device is simple, the goal is to inflate the wallet of our investors without effort on their part.