Out-of-Country Investor

[Alvin P.]

Hi everyone! I'm an out-of-country investor looking at getting into rental properties, and I'm very excited to get started. I'm looking at Little Rock, Memphis, and Houston. I've been reading through the posts on this site, and trying to pick up as much as I can.

Currently, I'm contacting several turnkey property companies, and trying to see how the best way to setup LLCs is. Apparently one in every state that I'll be owning property in is best - and even better if I have one LLC per property.

Financing is also a big headache, because of higher rates than usual for me since I'm a non-resident, so I might have to pony up much more cash per property that I had imagined.

But it's a journey that I'm glad to have gotten started. Looking forward to learning more from everyone! And if there are any other out-of-country investors, I'd love to hear from you too!

[Michael Sobotka]

An example of a transaction in Buffalo, NY

$62,500 purchase price.

Rent collects $1600/month

Tenants pay all utilities

I have a lender than can do a 5.99% loan to non-residents, but that is if you can get a Social Security Number.