So I now have dual citizenship in England and USA. My family is pretty much 100% usa except my grandfather moved and his kids (my dad) moved to usa about 40-50 years ago.
I was thinking about leveraging the fuck out of cheap ass houses in both countries, rent them out, and if they went underwater just declare bankruptcy, take my money and go to the opposite country?
Is this a fool proof course, except if both housing markets collapse?
I have three citizenships. BUMP
>>1736556
have you benefited from multiple citizenship?
Only fools have a fool-proof course of action. Your plan should work as long as you keep the houses in the United States leveraged out with nonrecourse debt. Do the same in The United Kingdom if they allow non-recourse debt.
it does seem much cheaper to buy a mcdonalds franchise in england than it does in the usa, even after you factor in the pound.
I hear mcdonalds is the national white people's food now.
>>1737193
mcdonands spent the last 20 years grooming a new generation to forget the bad press of the 90s
big chains in generals are booming over the UK. which is strange given how much the UK gov wants taxes placed on fat/sugar food.
>>1736515
The "taking my money" thing is the real problem with that one.
If you use a business entity, your money is going to be stuck with the bankrupt business unless you embezzle it. If you don't use a business entity, your personal assets will be frozen in the first country before you can escape.
>>1737368
The only reasons the property would not work, would be due to unforeseen expenses or loss of income in rents.
I don't want to play speculator, just going for some rental income.
lets say the investment cost of subway in England is 200k, with required assets of 500k.
I buy the investment for 200k, for 100k down and move all my liquid assets into English bank for proof of assets.
I buy franchise...
franchise starts to suck... shitty location... not enough customers... can't find decent employees in country I don't know shit about...
Move all money back into America, but continue working at franchise, until I my loan is foreclosed/bankrupt.
leave to USA, (with 50k in bad debt in England).
shove all