Sanjay1659a, Renter in

I am an overseas investor and would like to buy residential property with good rental potential. How should I go about it?

Asked by Sanjay1659a, Fri Nov 16, 2012

Upto 30% deposit and 70% mortgage from a US bank.

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Answers

8
I actually don't recommend investing from overseas into US single family residential property for rental purposes. The realization of actually getting to make a meaningful profit, much less getting to the closing of the purchase is not worth the risk and trouble obtaining financing. US investors have enough difficulty getting approved. These days lenders will limit the number of properties you can finance. You won't make enough money without owning a large portfolio, so you might as well look for a local partner/broker to purchase multi-family/apartments. If you are interested in owning multi-family property, contact me directly. I can also help you with the financing.

Brent Rice, Top Recommended Broker
The Rice Group, Inc.
Website: http://www.ricegroupinc.com
214-808-3100
Brent@RiceGroupInc.com
0 votes Thank Flag Link Fri Nov 16, 2012
Hi Sanjay,

Just contact me at 425-999-9364 or jimshihome@yahoo.com if you still need further info. Thanks.
0 votes Thank Flag Link Fri Nov 16, 2012
Consider Lake Tahoe "America's Full Year Playground" for an investment area. Contact me anytime.
0 votes Thank Flag Link Fri Nov 16, 2012
In today's environment that will not happen.
We have been unable to find any lender who will lend to non-US resident for investment property.

Must be US based with Social Security number, and US based income with some other requirements as well.

Sorry for the bad news.
0 votes Thank Flag Link Fri Nov 16, 2012
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
You might also consider that you can buy vacation and investment properties in areas that you would like to travel to! How about the wine country in Sonoma County, CA. We're pricey, but values are going up faster than most cities, and there are still many opportunities for immediate positive cash flow! The weather is great out here, there are seasons, and temperate climate means it's not too hot or too cold!
0 votes Thank Flag Link Fri Nov 16, 2012
I have lots of rental properties in all price ranges. But you must get approved for financing, I know of a few banks that might work for you if you would like to contact me.
Cathy Crowe
cathy@allstarhomegroup.com
0 votes Thank Flag Link Fri Nov 16, 2012
Hi Cathy, it will be great if you could advise the banks that offer financing solutions to non-US residents.
Flag Fri Nov 16, 2012
You will need to be pre approved from any U.S. lender first, of your choice and the pick 1 Realtor to work for you in finding what you need.

Kenny
Turtle Creek Realty
0 votes Thank Flag Link Fri Nov 16, 2012
I have tried a couple of banks. But those that receive that work with FHA do not lend to overseas investors. All of them say that there are financial institutions that have specialised divisions that lend to overseas investors but haven't been able to suggest any that I could approach. Are you able to recommend any?
Flag Fri Nov 16, 2012
Hi Sanjay,

Any good agent can help you find properties for rental purposes. The main factors will include how much you'd like to spend on each property and how much rental income you'd like to receive each month. For example, if you're looking to spend between $100k-$150k on the property and then receive $x per month in gross revenue, I or any good agent willing to do the research could provide you with a list of properties in various parts of town that would qualify.

Let me know if I can be of any further assistance.

Thanks,

Jeff Epstein
jeff.epstein@DFWHomes.org
0 votes Thank Flag Link Fri Nov 16, 2012
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