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Updated about 2 years ago on . Most recent reply

User Stats

5
Posts
2
Votes
Khalid Khan
  • New to Real Estate
  • Boston, MA
2
Votes |
5
Posts

Getting Started in RE on an F1 visa

Khalid Khan
  • New to Real Estate
  • Boston, MA
Posted

I am currently in the US on an f1 visa (student visa) and get my green card within a year. I go to Northeastern University in Boston, MA, and will be graduating in December this year. I have an additional $500k invested into a property as I am currently in the EB5 program, an investment program that allows foreigners to get their green card. This $500k is a gift from my father and will be given back to me within a few years time (3-5) once I get my green card. When I do get it, I want to be prepared to best know how to invest it. I have also secured a job that pays me a base $120k, $132k total per annum, and my first day at work will be 20th Feb, 2023. This job is located in Burlington, MA. This job will be Hybrid as I will only be required to go into the office once per week, I will be working from home the rest of the week.

My question is, what do you think is the best strategy for me to get started right now?

I certainly aim to start with Multi-Family homes, but I am unsure of what types of loans I could qualify for, how much I could qualify for, and how much I could afford, or if I can even qualify for a mortgage on an F1 Visa and if I should just wait for my Greencard to get started? I am also unsure as to which cities in MA are best to purchase rental properties (as I want to househack and rent the other unit(s)), and how do I determine which cities are best for rental properties.

Finally, I am highly motivated to find a partner/mentor who I could learn from and grow. I am able to provide technical services, anything related to websites, social media, etc., and am able to drive to sites at any time and day of the week as I will be working from home at a job remotely 4 times a week. I am quite dedicated and have reading books, listening to podcasts, and networking for the last 3 years, and feel I am confident enough now to really get started.

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