Overseas investor - Wanting to invest in memphis

[Wesley H.]

Hi All!

Biggerpockets seems so great! love the podcasts too!

Currently based in New Zealand and am itching to buy property in USA/Memphis.

There's been an overload of info iv had to absorb ( taxes, realestate language, etc etc ).

I am at the point where iv taken off the training wheels and believe im ready to start investing.

Appreciate any help and hopefully i can repay the favor if you are interested in investing in New Zealand realestate!

[Hadar Orkibi]

@Wesley H., there are few lenders In the US that could lend to foreigner buyer like yourself, but you will probably need 30%-40% deposit. so you do need some cash to invest in the US. 

You can borrow from NZ line of credit or top up your NZ loans at lower rates and bring some money over. 

but make sure you are not over stretched. There is no point buying 1-2 houses in the US and that's it, as most likely they could cash-flow at say $2000-$3000 per year.  if you decide to invest in the US you need to think big!!

You want to make extra say 5o a year?? you need to buy say 15 -20 houses or few multi family. 

considering you are not in Memphis, you will most likely need to work with a Turn key company like @Curt Davis, Or  @Alex Craig . I have few happy friends that invested through them. they buy houses, renovate them to good standard, fined a tenant and can provide management too. 

Keep readying the forum to educate yourself about the options.