Yes, you are right, I meant RA - resident alien. As Rodney correctly points out below, and as my post below points out, my investor and I found out that US lenders are not willing (or able) to loan to a foreign national - NRA. And conversly foreign banks are not willing to provide loans so their nationals can buy US property - especially in high foreclosure markets like Atlanta. There is a Singapore bank that will do foreign investor loans for other US markets (not Atlanta), but only for properties with a minumum purchase price of $400K
And Micheal, no, the investor I represent is not the flakey Albert Clayton - he completly disappeared from Trulia after I demanded he stop with all the blab with other agents and show me some financials.
Yes, I do property management as well and will be renting out each property after I get the rehabs done.
Bill, if you have found a stellar agent, you should be asking this type question of her, rather than coming to a public forum for the answer - and especially after mentioning her name - which I hope you got permission to do. When you come here, it can look like you do not have confidence in her ability to either answer your question or point you to the right resources. Any top agent would not spend two minutes with you without first verifying your abilty to make a purchase - I assume she did this?
I have a concern with your statement "I have kept the finance aspect separate from her at this stage mainly because I'm extremely new to this." You owe full disclosure to your agent regaring your financials as relates to your ability to buy specific properties - in fact, if we are talking foreclosures, no REO broker or bank I am aware of will even accept your offer without not only proof of your purchase funds, but moreover, those funds have to be in a US bank - not a foreign bank.
My question for you Bill, have you revealed to Amy that you intend to buy a second property (coincidentally also for $140K ) but only have $45K in purchasing funds?