Finance for foreign investors???

Asked by Drasta, Phoenix, AZ Wed Feb 24, 2010

I am living in Australia and looking to buy houses in us for investment. Currently looking in Atlanta. Could someone let me know financing opportuintyfor foreign investors? I am thinking to buy a house first with cash from bank and thinking to use the equity to buy more.

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13
Charles Alex…, Both Buyer And Seller, Memphis, TN
Thu Aug 25, 2011
I am a real estate investor in Memphis, Tennessee who is presently selling 12 to 15 homes per month to foreign investors. I package these homes and normally sell them 4 to 6 to each investor. I am selling these nice 3 bedroom, mostly brick, homes for around $29,000 and they pay cash.. I have them rented for $700 to $875 per month, which results in a return of 23% to 30% per year. I also rehab and manage these properties. In the past 8 years I have purchased and rehabbed more than 600 single family homes. The problem I currently have is I am selling through a foreign investment firm, who receives a large fee and their U.S. representative, who receives a large fee. I would like to start marketing to foreign investors direct. I have also looked at doing the same thing in Las Vegas, NV, Dallas, TX, and Nashville, TN. I would like some foreign connection that is real and supply these top investmant properties direct. I have also made some connections with lenders who will make loans to foreign nationals on these properties. Please let me know if you can be of any assistance. Thank you so much.
0 votes
Jeremiah Joh…, Both Buyer And Seller, Arlington County, VA
Tue Apr 13, 2010
So you REALLY do know where you are actually licensed to transact real property business? Good, with that reply, you may now move near the front of the class.
0 votes
Elizabeth He…, Agent, Agawam, MA
Tue Apr 13, 2010
Actually, Jeremiah I'm licensed in MA & CT, and it says that on my website. I appreciate your concern and even agree with you as that is a pet peeve of mine as well. If you notice in my responses I offer to direct non-MA/CT Buyers and Sellers to resources in states where I don't hold a license but have colleagues who are experienced in foreign transactions that can help them, which is exactly what I do and have done in the past. Drasta was requesting information about property in Atlanta for foreign investors and I was offering to assist him/her in contacting a very experienced/credentialed International Realtor in that area should he/she still need it, HARDLY bee essing the heart and soul of the business model but rather helping him/her.

Drasta, I'm sorry for the tangent taken on your thread.
0 votes
Jeremiah Joh…, Both Buyer And Seller, Arlington County, VA
Tue Apr 13, 2010
You're welcome, Liz, but are reading between invisible lines if you think there is a distinct distaste for all realtors in my threads. What I really 'REALLY don't like' are agents bee essing we buyers and sellers who make up the heart and soul of their business model, what they must perceive as the peanut gallery of this forum. Your own website lists licenses in NY & NJ, not in GA. Why waste your time as well as the ones of us seeking advice pretending you can represent the public in a state you do not possess a license, unless you simply need to raise your post count?
0 votes
Elizabeth He…, Agent, Agawam, MA
Tue Apr 13, 2010
Thank you for noticing my response activity, Jeremiah. I've taken note of your postings, too. Seems you REALLY don't like realtors, why is that? And since you asked I have two state licenses with a third in the process. And if somebody needs assistance where I don't hold a license, I have colleagues around the country (and abroad) that can assist them.
0 votes
Jeremiah Joh…, Both Buyer And Seller, Arlington County, VA
Tue Apr 13, 2010
I may need assistance in the Old Dominion State, Elizabeth. Is it true that queens really enjoy knights? How many state's licenses do you have anyway?
0 votes
Elizabeth He…, Agent, Agawam, MA
Tue Apr 13, 2010
I know the PERFECT realtor who can assist you! She is the queen of international transactions in Atlanta and is the former President of FIABCI/International Real Estate Federation.

I can be reached at elizabeth@elizabethherbert.com should you still need assistance in your property search.
0 votes
Bill Eckler, Agent, Venice, FL
Thu Feb 25, 2010
Greetings Drasta,

The number of financial resources available for foreign national has decreased significantly. Here are two that you might want to try: HSBS and Scotibanc

The most current financing terms for foreing national borrowers include the following:

primary and secondary/vacation homes only

single family, condo, and toenhomes

70% loans

Credit score minimum of 700(international credit report)

minimum financing $100,000

full documantation

Interest rates at approx. 8%

We hope you find this information helpful.

The Eckler Team
0 votes
Michael Hamm…, Agent, Suwanee, GA
Thu Feb 25, 2010
Like most US cities, Drasta, metro Atlanta has numerous opportunities in a drastically diverse market area. Towns a few miles apart or neighborhoods just across the street can have totally a different bottom line for a long term investor, the buyer of a primary residence or a flipper looking to get in and out in 180 days or less. Here are a couple of links that may prove helpful. If you will call or email one of our preferred lenders below, they will be able to explain some options for you, as well as possibly pre-qualify you for a future mortgage. Good Luck!

Michael Hammond
SellsRealty@gmail.com
404-538-5499

http://www.georgiamls.com/agentsite/index.cfm?SiteID=hammondjohnm

Jay Posey
Your Mortgage Advisor
PHH Mortgage, Inc
Phone: 404-992-5462
E-mail: Jay.Posey@mortgagefamily.com

Chuck Ewing
Senior Mortgage Planner
Community Mortgage Services
Phone: 770-241-1700
Fax: 678-623-0960
chuckewing@mindspring.com
http://www.chuckewing.com

http://www.irs.gov/businesses/small/international/article/0,…
Web Reference:  http://www.city-data.com/
0 votes
John Sabic, Agent, Atlanta, GA
Wed Feb 24, 2010
I am local investor and Realtor in Atlanta Let me know if you are ready to start your search. We can talk about financing options when you are ready to buy.
Web Reference:  http://www.atlantamyhome.com
0 votes
Russ Garmon, Other Pro, Norcross, GA
Wed Feb 24, 2010
I am a home inspector and real estate broker for over 15 years and an active real estate investor.
I have many investor that I help, be there eyes here in Georgia for investments.
Visit one of my web sites and give me a call or drop an email if I can help.
I just purchased another investment home just a few weeks ago.
Russ Garmon
770-368-8151
http://www.garmonrealestate.com
0 votes
James Dudley, Agent, Suwanee, GA
Wed Feb 24, 2010
Drasta,

I would be happy to refer you to one of my lender contacts to discuss your possibilities.

In addition I work with an investment group that purchases properties for foreign investors in the Atlanta area.
0 votes
Dallas Texas, Agent, Dallas, TN
Wed Feb 24, 2010
We work with investors world wide many will pay cash then use equity where local bank can lien home for cash. Best contact banks in area of interest.

Lynn911
Web Reference:  http://www.lynn911.com
0 votes
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