If you want more information visit Auctions2Italy - bit.ly/auctions2italy and his other site retire2italy - bit.ly/How-To-Retire-In-Italy . Properties for $1 and then money from the government to fix it OH MY!
It you wanted a really gold business you'd have all this financial help lined up in advance - a package deal. they pay you to have the software or experts lined up.
@@Karl__Pierre okay. Next month I'd take a trip to the North, Liguria and France border. What I should hunt there in a first place? My idea is to spent a $25 on unit, and add on renovation the same amount, multiple it by utilizing subsidies, as many would be applicable on non-resident owner.
Thank you Karl for sharing this. I truly appreciate you sharing your passion and opportunities that you come across. You are truly an inspiration to me and I look forward to your future content. All the Best!
Awesome info and thank you Karl for constantly giving us new insights. Truly appreciate your content. I am on my way to make that move. I live in LA, definitely going to purchase property there.
Great information. I am making my way through all of your videos. I have always wanted to visit and potentially live in Tuscany. I will try this out and see how it goes. Thank you for sharing this video!
Great interview. Very helpful info. We’ve been talking about Italy as a long term family vacation destination for a while. Good to know the process of owning an Italian home is becoming more accessible remotely.
@@Karl__Pierre We’ve been looking in areas of Abruzzo, Calabria and Sicily areas with less than 1/2 hour of travel time to the beach. A home in a small Italian village is always a place where I can see myself visiting often and retiring there.
I've covered the buying if you watch the he series in entirety. Right now I'm in the renovations phase. Pretty much all questions are answered in the series. Is there anything in particular you need clarification on?
Very informative video! I'd like a vacation property in Italy but we are looking into moving to either Spain or Portugal. I'm going to do more research on the tax credits though.
Both are awesome choices and at these low prices can't hurt to have the vacation house in Italy. I love Spain. I'll be getting a property there as well.
I also choose the 90% discount on the invoice because our house was in the area (centre of the city) where the Municipale decidere to apply this advantage. We were told by our ingegneer that the 110% credit is at the moment not well organized: lot of difficoulties, nobody had yet answers, companies don't know how to proceed properly, risky as you can be checked for ten years and a small mistake can't stop alla the taxi credit. This is my exeperience. I' m Italian.
@@Karl__Pierre we are renewing the whole external walls. We didn't add an "energetical" renew, as our flat is not so old and to obtain the energetical fund we'd have increased the energetical classification of 2 levels, too much for us. While for a very old house is easier increasing of 2 energetical levels.
Hi Karl, My name is Trashanda White. I am a ENTPlife subscriber. I was wondering if you would be interested in me co-hosting one of your airbnb places that you have here in the United States or possibly out of the country if that is your pressing need. I can either take care of the day to day operations or operate as a full-service management including setting up everything the apartment needs to get airbnb ready/interior design. Hope to be able to help where needed. I look forward to hearing from you. Thank you. Sincerely, Yours
Complete information, thank you. I'm following your footsteps (slowly). I'm an architect so I already have the land, around 4 acres in a residential area. Now I'm starting to build the first apartment, planing to do 8. I'm gonna sell 1.5 acre and then and only then with God's help I'm going international. 😊 👍
Hey Karl. Im going because I want to retire in Sicily. I am sicilian & fell in love with Italy the first time I went. I knew I would come back. Ciao Francesca Marino Look forward to seeing your renovations.
The residency question for non-EU citizens is quite important. The local municipality is key as that is where people will need to file all of their documents and navigate the system. One thing that was not mentioned - maybe I missed it - if you are going to purchase property in Italy then you really must invest time in the language as well as learning about how local and national bureaucracy works - it is not so bad - but many people who move here feel like people should cater to them etc.. and like anywhere in public offices it just depends who is behind the window (mask) and that in small towns it is important to have a good attitude and try to be well received.
Yes this is all true. I think people from smaller cities will understand this. But coming from a large world city like NYC LA Tokyo, or London...be ready haha. Overall rule of thumb, be respectful, learn the language and customs, ask for help. If you do the above you'll manage.
I did a semester of college in Italy and fell in love with it. I have been researching Italian properties for a few years. This video was very helpful -- I'll be checking his site.
Thanks for this info. I also paid for some renovations (major plumbing issues & a rotted floor) already but I plan to reach out to this company for help on qualifying for & selling my tax credits for future renovations. Hurray!!
Karl, it would be a good idea to discuss how the foreign tax credit applies in your scenario which takes care of getting taxed twice on your rental income. I’m not sure if this applies to te property tax but I read that you may deduct this when you itemize
Great Stuff 1) You don't need to renounce your US Citizenship to become an Italian Citizen 2) If you spend less than 6 months in Itay then you don't have a tax obligation (Not a Tax Expert)
The plan is to get Portuguese citizenship through my father and once I have EU citizenship I’m buying properties anywhere with similar offers! Vacation rentals all over.
@@Karl__Pierre at some point within the next couple of years, yes. I relocate fairly often. I like to experience different cities. Currently in NYC. Next up either Portugal or Spain for a bit. I’ll travel around and see what speaks to me.
hi, is there a duration on how long u are only allowed to renovate after u have won the bidding? i mean do u need to renovate immediately after buying? or would they give how many years allowance to renovate? i hope u can answer thank u so much!
It varies by municipality. If it's a 1 euro government property they will define the terms. Of when. What I recommend is actually getting a home that's not a 1 euro home. Spend up it will save you on renovations and total all in price should be less unless you want to full rebuild.
Hi Carl, Sorry I’ve been absent for a while however Always Looking forward to hearing from you and your Updates about the Properties in Italy 🇮🇹 I’m happy to hear more Cities are Opening more opportunities for the $1 Euro Houses! This is Wonderful By the Way , How is the Process with the Properties you Purchased? I know you had Certain Time to Complete the Renovation, but with the Travel Restrictions due to COVID19 How are you Managing it?? Warms Regards from Noriko in Miami Florida
Hi Karl, We met you in Mussomeli when you and we were looking at properties. I sent you a message on Facebook with some questions and hoping you have a chance to take a look and respond. Hoping you are well!
Brooklyn girl living in thailand... NICE 🙂. Think about it like this. This is a tax credit, banks are usually profitable and because of this have to pay a lot of taxes. The banks will buy your tax credit for 90% of the face value. So for a $100,000 credit they will give you 90k for it however the credit is worth 100k so they get a 10% discount on their tax bill. Assuming they had a 100k tax bill for the year they would have paid out 90 instead of the 100 because they have a 100k credit resulting in a 10k additional profit for them.
@Thembi Costa it would be better to use the credit to A pay the contractor B offset your personal income/business tax liability. However let's say you paid the contractor cash you can recover your cash by selling the credit at whatever you agree to with the bank or you can use the credit to offset your tax bill for that year and years to come. Personally I'd rather pay the contractor direct but contractor may not want to wait for payment for materials and work... Waiting for the tax credit. So chances are you pay your contractor out of pocket.
Hey Karl. I'm coming over to have a look around in Mussomeli with a view to buying something within the next six months. Could we meet up so that I can ask you lots of questions please?
I am curious if you do a mentoring program on foreign real estate investments? These videos are very helpful but how wonderful would it be to have a team that can will help guide you through each of these steps. If so I am interested in learning more. Thank you for your content 🙏
Hi Lilly, right now I don't have that. Only for domestic investments here in the USA. My advice is to watch closely and work with the same people I have worked with. I can make Introductions if needed.
@@Karl__Pierre That's unfortunate, but possibly another stream of income for you in the future! 😊 I'm interested in where I could find a hands on approach to the process. I am new to channel so I have to start at the beginning of the series but if can have confidence in the renovations & buying process that would be a game changer! Thank you so much for your time & showing us it's possible! Sending love & light 💕
@@lillyslatchhookcreations56 back at ya! The issue is that the mentoring services just doesn't add up for me at this time ...it's also why I stopped consulting because it takes time to focus on the client and deliver for them and that same time place on my own investments and company yields a much higher return. So video is the easy way for me to help. Record once and answer most questions. I do answer all comments at this time so as you have questions reach out and when you need the Introductions let me know!
@@Karl__Pierre That's fine. If you would live more than half the year (183 days) in Italy, you would have to pay taxes for your entire income (world income) in Italy, right? Having a home in Italy means to pay attention to the number of days you are spending there per year.
If you want more information visit Auctions2Italy - bit.ly/auctions2italy and his other site retire2italy - bit.ly/How-To-Retire-In-Italy . Properties for $1 and then money from the government to fix it OH MY!
It you wanted a really gold business you'd have all this financial help lined up in advance - a package deal. they pay you to have the software or experts lined up.
auction2italy not working anymore
@@antoniom1352 sucks I guess they quit.
@@Karl__Pierre okay. Next month I'd take a trip to the North, Liguria and France border. What I should hunt there in a first place?
My idea is to spent a $25 on unit, and add on renovation the same amount, multiple it by utilizing subsidies, as many would be applicable on non-resident owner.
@@antoniom1352 sounds like you have your parameters down. There is an Instagram page I follow @cheappropertyeu check them out.
Thank you Karl for sharing this. I truly appreciate you sharing your passion and opportunities that you come across. You are truly an inspiration to me and I look forward to your future content. All the Best!
Thanks for even watching and the kind words! Live your dreams out loud!
Just as i was thinking about a particular question, you asked it! Amazing resource! Thank You.
My pleasure!
Awesome info and thank you Karl for constantly giving us new insights. Truly appreciate your content. I am on my way to make that move. I live in LA, definitely going to purchase property there.
Fantastic! Keep me posted and let me know how I could help?! What city?
Great information. I am making my way through all of your videos. I have always wanted to visit and potentially live in Tuscany. I will try this out and see how it goes. Thank you for sharing this video!
Awesome, good luck
Thank you for the information you ñ’ve literally got me so inspired 👍👍👍
Thanks for checking in! Keep me posted when you pull the trigger and make it happen.
Very good info, please keep it coming.
Of course
Great interview. Very helpful info. We’ve been talking about Italy as a long term family vacation destination for a while. Good to know the process of owning an Italian home is becoming more accessible remotely.
Nice. What areas are you considering? Why Italy and what timeline are you on?
@@Karl__Pierre We’ve been looking in areas of Abruzzo, Calabria and Sicily areas with less than 1/2 hour of travel time to the beach. A home in a small Italian village is always a place where I can see myself visiting often and retiring there.
@@tfranklin1628 yeah I wish I was a little closer to the beach.
Great information! Please keep the buying process videos coming. I'm looking forward to buying a euro home.
I've covered the buying if you watch the he series in entirety. Right now I'm in the renovations phase. Pretty much all questions are answered in the series. Is there anything in particular you need clarification on?
Great, I'm still going through your euro home videos. So far everything has been clear and straightforward. Thanks🙂
Very informative video! I'd like a vacation property in Italy but we are looking into moving to either Spain or Portugal. I'm going to do more research on the tax credits though.
Both are awesome choices and at these low prices can't hurt to have the vacation house in Italy. I love Spain. I'll be getting a property there as well.
I also choose the 90% discount on the invoice because our house was in the area (centre of the city) where the Municipale decidere to apply this advantage.
We were told by our ingegneer that the 110% credit is at the moment not well organized: lot of difficoulties, nobody had yet answers, companies don't know how to proceed properly, risky as you can be checked for ten years and a small mistake can't stop alla the taxi credit. This is my exeperience. I' m Italian.
Thank you for sharing. Let me ask this. Was the 90% option simple and what work did you do?
@@Karl__Pierre we are renewing the whole external walls. We didn't add an "energetical" renew, as our flat is not so old and to obtain the energetical fund we'd have increased the energetical classification of 2 levels, too much for us. While for a very old house is easier increasing of 2 energetical levels.
Great questions 👏
Glad you like them!
Would love to visit one day with my kids and I would absolutely love to purchase a home. Thank you for this wealth of information.
Let's put a date on when?!
Hi Karl,
My name is Trashanda White. I am a ENTPlife subscriber. I was wondering if you would be interested in me co-hosting one of your airbnb places that you have here in the United States or possibly out of the country if that is your pressing need. I can either take care of the day to day operations or operate as a full-service management including setting up everything the apartment needs to get airbnb ready/interior design. Hope to be able to help where needed. I look forward to hearing from you. Thank you.
Sincerely,
Yours
Very interesting information.
For foreigners, it will become a base for long term vacation or work.
Yup
Complete information, thank you.
I'm following your footsteps (slowly).
I'm an architect so I already have the land, around 4 acres in a residential area. Now I'm starting to build the first apartment, planing to do 8. I'm gonna sell 1.5 acre and then and only then with God's help I'm going international. 😊 👍
What country and what are the numbers like?
Hey Karl. Im going because I want to retire in Sicily. I am sicilian & fell in love with Italy the first time I went. I knew I would come back.
Ciao
Francesca Marino
Look forward to seeing your renovations.
Nice
Great information
Glad you found it useful...are you looking to get one??
The residency question for non-EU citizens is quite important. The local municipality is key as that is where people will need to file all of their documents and navigate the system. One thing that was not mentioned - maybe I missed it - if you are going to purchase property in Italy then you really must invest time in the language as well as learning about how local and national bureaucracy works - it is not so bad - but many people who move here feel like people should cater to them etc.. and like anywhere in public offices it just depends who is behind the window (mask) and that in small towns it is important to have a good attitude and try to be well received.
Yes this is all true. I think people from smaller cities will understand this. But coming from a large world city like NYC LA Tokyo, or London...be ready haha.
Overall rule of thumb, be respectful, learn the language and customs, ask for help. If you do the above you'll manage.
I did a semester of college in Italy and fell in love with it. I have been researching Italian properties for a few years. This video was very helpful -- I'll be checking his site.
Glad you find it helpful, I think its a nice thing to have.
Thanks for this info. I also paid for some renovations (major plumbing issues & a rotted floor) already but I plan to reach out to this company for help on qualifying for & selling my tax credits for future renovations. Hurray!!
Glad it was helpful!
Where is your property located
@@Karl__Pierre I’m in the historic center near the Madonna Sanctuary. I definitely won’t purchase a home behind a church ever again! 😂
@@NapaValleyVegan ding dong!
@@Karl__Pierre Exactly 🔔 😳
Karl, it would be a good idea to discuss how the foreign tax credit applies in your scenario which takes care of getting taxed twice on your rental income. I’m not sure if this applies to te property tax but I read that you may deduct this when you itemize
Sure will do!
Great Stuff
1) You don't need to renounce your US Citizenship to become an Italian Citizen
2) If you spend less than 6 months in Itay then you don't have a tax obligation (Not a Tax Expert)
Thanks for sharing and the disclaimer
The plan is to get Portuguese citizenship through my father and once I have EU citizenship I’m buying properties anywhere with similar offers! Vacation rentals all over.
Do you plan to relocate to EU?
@@Karl__Pierre at some point within the next couple of years, yes. I relocate fairly often. I like to experience different cities. Currently in NYC. Next up either Portugal or Spain for a bit. I’ll travel around and see what speaks to me.
@@julienmelo7854 sounds good!
hi, is there a duration on how long u are only allowed to renovate after u have won the bidding? i mean do u need to renovate immediately after buying? or would they give how many years allowance to renovate? i hope u can answer thank u so much!
It varies by municipality. If it's a 1 euro government property they will define the terms. Of when. What I recommend is actually getting a home that's not a 1 euro home. Spend up it will save you on renovations and total all in price should be less unless you want to full rebuild.
Hi Carl, Sorry I’ve been absent for a while however Always Looking forward to hearing from you and your Updates about the Properties in Italy 🇮🇹 I’m happy to hear more Cities are Opening more opportunities for the $1 Euro Houses! This is Wonderful
By the Way , How is the Process with the Properties you Purchased? I know you had Certain Time to Complete the Renovation, but with the Travel Restrictions due to COVID19 How are you Managing it?? Warms Regards from Noriko in Miami Florida
Welcome back! We're almost done with the renovations. I hired out the work and its coming along. when borders reopen I will travel there.
Hi Karl, We met you in Mussomeli when you and we were looking at properties. I sent you a message on Facebook with some questions and hoping you have a chance to take a look and respond. Hoping you are well!
Hey Sherry! How are you doing? Best contact is my email Karl@solislapierre.com I'll look at FB every now and then.
Hi can I get the accountant website to look for the property. I follow you around and I really like your way of investment
Hi Fannie the link is in the description.
I’m kind of confused with the trade to the bank
Brooklyn girl living in thailand... NICE 🙂.
Think about it like this. This is a tax credit, banks are usually profitable and because of this have to pay a lot of taxes. The banks will buy your tax credit for 90% of the face value. So for a $100,000 credit they will give you 90k for it however the credit is worth 100k so they get a 10% discount on their tax bill. Assuming they had a 100k tax bill for the year they would have paid out 90 instead of the 100 because they have a 100k credit resulting in a 10k additional profit for them.
@Thembi Costa it would be better to use the credit to A pay the contractor B offset your personal income/business tax liability. However let's say you paid the contractor cash you can recover your cash by selling the credit at whatever you agree to with the bank or you can use the credit to offset your tax bill for that year and years to come. Personally I'd rather pay the contractor direct but contractor may not want to wait for payment for materials and work... Waiting for the tax credit. So chances are you pay your contractor out of pocket.
Hey Karl. I'm coming over to have a look around in Mussomeli with a view to buying something within the next six months. Could we meet up so that I can ask you lots of questions please?
Yes I will be there June 15th to August 10
I am curious if you do a mentoring program on foreign real estate investments? These videos are very helpful but how wonderful would it be to have a team that can will help guide you through each of these steps. If so I am interested in learning more. Thank you for your content 🙏
Hi Lilly, right now I don't have that. Only for domestic investments here in the USA. My advice is to watch closely and work with the same people I have worked with. I can make Introductions if needed.
@@Karl__Pierre That's unfortunate, but possibly another stream of income for you in the future! 😊 I'm interested in where I could find a hands on approach to the process. I am new to channel so I have to start at the beginning of the series but if can have confidence in the renovations & buying process that would be a game changer! Thank you so much for your time & showing us it's possible! Sending love & light 💕
@@lillyslatchhookcreations56 back at ya! The issue is that the mentoring services just doesn't add up for me at this time ...it's also why I stopped consulting because it takes time to focus on the client and deliver for them and that same time place on my own investments and company yields a much higher return. So video is the easy way for me to help. Record once and answer most questions. I do answer all comments at this time so as you have questions reach out and when you need the Introductions let me know!
Hold on what
Yup!
Did you research, how many taxes your have to pay in Italy?
About 600 euros a year
@@Karl__Pierre So you live less than half a year in Italy, right?
@@tomtom2806 me personally? I would be able to live less than half the year there. I'm most likely going to spend 1 month or so there a year.
@@Karl__Pierre That's fine. If you would live more than half the year (183 days) in Italy, you would have to pay taxes for your entire income (world income) in Italy, right? Having a home in Italy means to pay attention to the number of days you are spending there per year.
What's the name of his website
its in the subject line of the video auctions2italy.com
The website isn't working
Which site
@@Karl__Pierre Auction2italy.com
@@sohamroy8900 auctions2italy.com add the s
hello v ery interesred sicily or palermo
Palermo is the main city in Sicily, how can I help?
They are not for €1
Yes they are, please explain your reasons that they are not and I will certainly counter it.
fraud
?