Overseas investor - where to start

[Azam Khan]

Hey guys ,

I am looking to invest in US. Can see pretty good yields compared what we have here in New Zealand. Can someone please guide me through the process to buy a house in US. I think the biggest road block is getting any finance approved to a non - resident , but Iam happy to pay at least 30-40% deposit. Any existing overseas investor will probably know what Iam talking about. Any guidance in good areas / states to look at will be appreciated. I have a brother who lives in Washington - Seattle but I can find any good yields in that state.  

[John Rogers]

Expanding upon what Chris Dawson said, here are some additional suggestions...

Pick an international bank so it is easier to wire funds.

Open two accounts.. see below.

Find a business partner...

• The purpose of the partner is to show a presence in the State you want to do business in, making you a legal and viable entity
  • That means establishing an LLC in the State and having you partner as a non-voting officer
• The two bank accounts... one is yours, the other is the LLC's. The LLC does the business and you transfer funds between accounts to protect your assets

Your partner is the "feet on the street". They research, make offers, and when accepted, you transfer EMD funds, then work on the financing together to fund the deal.

Your partner signs on behalf of the LLC and you take title in the entities name

We do this now with foreign investors buying HUD homes in Florida...