Moving from Singapore Back to 'Merica

[Andrew Anderson]

Hello BP!

I've browsed your forums for a few weeks and it seems you have some quality information--I hope that this will finally get me into the trenches as a principal in RE (outside of REIT investing and helping to broker a REPE deal while I worked at one of the big investment banks).

Goal: ~15-20 unit Multifamily value add (likely hold) in WA State; likely urban infill class C/C-; 20%-30% down on a total deal between $600k-$1.5mm

Problem: I have been working in Singapore as a C-suite exec at a software startup for the past two years (offices in Singapore and Manila), but recently resigned and will be moving back to good 'ole America (Seattle) on March 1. I will not have a job upon arrival (hopefully that doesn't last long) and thought it'd be a good time to hunt/work on a BRRRR property. I doubt that any bank/credit union would count my last two years of foreign earned income towards any loan and it won't look good applying for my first property without a job. My credit is great (~810). I'll be buying the property through a single purpose LLC, but would be unlikely to consider a HML. So... here are my questions:

1. Can anyone confirm that foreign earned income doesn't count in the loan process (in terms of income history with personal guarantees)?

2. Would the commercial loan kill eligibility for a future FHA loan? (I've always lived in high end apartment rentals--current landlord in SG is making 2.25% gross off me hah!)

3. The investor group (2-3 people) I'd be tapping has a significant amount of liquid investments (much more than the deal size)--how would that affect the loan process? I would be willing to do a personal guarantee myself (liquid assets at the lower end of the deal size), but wouldn't ask for it from other equity investors.

4. Recommended books/podcasts/forum posts on apartment loans? Sorry, I'm sure they're out there, but haven't been able to find them.

I realize that these are mostly questions for the specific bank/lender... but I'd like to be prepared as much as possible before their discovery meeting. All of this is hypothetical as I haven't found a specific property--let me know if you need me to answer any other questions.

Thanks!