of San Diego. USD students tend to have the financial means to rent at the beach, pay higher rents and have parents who will consign on a rental agreement. Our experience with these type tenants is they move out in May and allow an owner the option of renting the property for the summer months
I have details on foreign investing and will gladly take your call to discuss purchasing in San Diego.
No commitment, happy to chat and get you started.
Sarah Scott, 619.840.2767
Pacific Sotheby's International Realty
Happy to answer any questions and find your new beach home!
Real Estate Broker
Are you looking into Single family home or apartment?
Your first step is to get approved for a loan, unless you are planning to pay cash. There are several lenders that will do loans with international buyers, you just have to make sure all your documents are ready to go.
PB saw great appreciation in the past year, especially this summer. Now prices are stead and inventory is increasing. This is a great time to consider buying, since you have a little less competition and can get a better deal compare to last Spring and Summer.
Good luck on your search!
Have you purchased a property in Pacific Beach yet?
David R. Indermill
Re/Max Hall Of Fame, CDPE | Since 1998 | Luxury Real Estate Advisor
International Referrals | Bank Owned Assets | Off Market Properties
Large Cash Investor Fast Close Network | B.R.E License # 01232827
Cell: 858-414-LIST (5478) Texting OK
Pacific Beach is a great coastal area to purchase for an investment property. Typically, in Mission Beach and Pacific Beach you can summer vacation rent a property from June to August and from September to May for student or corporate housing rentals. Check out a great lifestyle site of Pacific Beach to give you more insight with lots of photos and general info. The site is http://www.PacificBeachSanDiego.Com.
Feel Free To Email Me with any questions.
David R. Indermill email@example.com
Re/Max Associates La Jolla
We can do: FHA, Conventional, USDA, VA, HARP, Interest Only, Home Equity, Fixed, and Variable. Find out which product is right for you by calling Brad at (855) 415-5626.
Sr. Loan Officer
Crosscountry Mortgage Inc.
Toll Free: (855) 415-5626 ext. 5734
Let me know if you'd like to discuss!
Lots of variables and options.
Loved my time in Coogee and Bondi.
If you what to chat my toll free number is 866-473-7356
San Diego Bank Homes - RE/MAX Associates
1) Are you able to buy from a financial and mortgage standpoint? Pacific Beach, while popular among young and old alike is not inexpensive.
2. How low do you plan to hold the property?
Those are the big issues...I would love to speak with you and explore whether buying is the right way to go for you.
Cindy Davis, Broker
SD Home Source Realty
Phone: (619) 379-8616
CA DRE #01363537
Great that you got the loan question answered, if you do not plan to pay cash.
It seems you have some knowledge of the PB area, are you looking to rent to students?
If so, you have to take many things into account.
1. Rental turn over as students tend to move about as they are in school 9 months out of the year.
2. Maintenance as they can be hard on properties.
3. You would most likely want to employ a property management company.
Please let us know if you have any other questions.
Mark & Kari Shea
Shea Real Estate
National Association of Realtors
CA BRE License 01713506
Obtaining a loan for a Foreign National or a Non-Permanent Resident Alien (NPRA) is not much different than doing a loan for a US Citizen or for a Permanent Resident. We require credible documentation for 2 yrs. + year-to-date Income, credit report or alternative credit to demonstrate â€˜Aâ€™ quality credit worthiness, and seasoned funds in a known financial institution (does not have to be seasoned in a US bank account). Translation of documents may be necessary if the originals are not in English.
You have no Green Card and no VISA.
No Credit requiredâ€¦but four credit references required â€“ alternate credit from country of origin is okayâ€¦international credit reports are also acceptable. (We usually Google your Country of Origin to determine if they have credit reports & tax filing).
Max 50% Loan-to-value.
Minimum loan amount of $300,000.
We require 2-years income verification history but it is not necessary to have U.S. tax returnsâ€¦Tax documents from country of origin are okay. If your country of origin does not require to file the equivalent of tax returns, then we need an employment letter on your company's letter head explaining compensation. If the employment letter is in a language other than English we need to get a statement from a tax preparer or equivalent that can provide evidence of your credentials by translating the documentsâ€¦it must be on letterhead so that we can verify the company through 3rd party sources.
We must be able to source seasoned assets in a known verifiable worldwide financial institution (i.e., Credit Suisse, HSBC, UBS, Bank of Tokyo)â€¦the funds may not be in an Institution which cannot be verified. The main reason for sourcing the income and assets is for OFAC (Office of Foreign Assets Control) which monitors foreign countries, regimes, known terrorists, etc.
Tax Preparer or Equivalent â€“ Financial Analysis:
If the income and asset documentation is in a foreign language, we might have to hire an Accountant/CPA (tax preparer or equivalent) to analyze, interpret, convert and present the information in such a way so our Underwriter can easily understand. That is, have a comprehensive summary and accounting of your financial position. (Tip: All U.S. Embassies provide translation services).
You must have a Social Security Number or Tax Identification Number (TIN) which can be easily acquired through an Accountant/CPA or visit the IRS website that explains what and how to get a TIN. As long as you have applied for the TIN, we can proceedâ€¦.
Passport and second form of ID required.
Power of Attorney (POA) is not allowed. You, if not present in the US, will have to go to an American Consulate to sign and have loan documents notarized.
Verification of existing Mortgage/Rent is required for previous 12 months.
Reserves of 12-months full debt service required (including all payments, cars, etc.).
Feel free to call me;
Senior Loan Consultant
All California Mortgage
A Division of APMC
P: (415) 464-8261
C: (415) 378-7508
F: (415) 464-2367
NMLS 304353 - BRE 01380701