Starting new life with real estate and need help

[Farshid Faww]

Hey all, im new here

such an awesome forum thanks to all

so i want to start my new business and researched so much but as i dont know anything in this field i wanted to get help and others opinion on it, so here are couple of infos on what i have in mind and couple of questions too, i would really appreciate the help

So i was born as Persian in Iran and moved to turkey , i want to form an llc and a trust (as i heard its good to have for real estate investment) to but properties with bank loans

i want to put 3.5% or more for down payments and other costs aswell and get bank loans to buy the but the property and rent to tenets and get the mortgage to pay off the loans and have a little for my self and do it over and over with this method(not sure if there is better way to start with little money)

maybe with that llc i would run some airbnb (not sure if that good to do with one llc)

so here are some questions that i wanted to clear in my head

1- As non us citizen or non resident would it be posssible to get bank account after forming the llc( i already know that i can get llc and ein and other stuff that banks need) but i dont know if banks will open an account for my llc as im iranian

2- i heard that are some other methods such as BRRRR and subject to (which i heard is really good) or distressed property which one is a good way to start?

3- so for forming the llc as i dont have any personal address in us i want to get virtual one and virtual cell number aswell to build the llc but to do it i want to use agents like northwest or incfile or others and would appreaciate if anyone could give me some advise on which one is better

4- as i mentioned people say a trust must be formed before the llc for better use and some say form llc first and then the trust which in this case im confused and need help really

5- i researched and found that delaware and wyoming are great to form llc but i wanted to know if i have an llc in wyoming would it be possible to but a property in other states or that would need some work to do and have difficulties?

so here are all my question hope you guys help me so i can start my life if there was informations that i forgot and must read and learn let me know i would be happy to learn more

thank you in advance

[Ben Firstenberg]

I can't answer all of these questions, but I can answer some. 

First, it is possible to form a Delaware/Wyoming LLC and buy outside of those states, people do it all the time. I don't know the exact requirements, but I think you just have to know a lawyer in one of those states.

Second, I believe you don't have to be a citizen to open a bank account, but you might have to be a US resident. You definitely have to be a resident if you're looking to put down just 3.5%, as those loans (FHA loans, they're called) will require you to live at the property for at least a year.

Third, as far as best strategy to start with it depends a little bit on what your goals are and what assets you have. If you have decent cash on hand ($50k+), buying distressed properties and renovating or doing BRRRR them could be really great. If you don't have much money, putting down 3.5%, living in the property and renting out extra rooms or extra units would be a better strategy to get started.

Hope this helps! Please check me on all of this as I'm no expert and don't want to cause any problems for you. Best of luck!