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All Forum Posts by: Akash Y.

Akash Y. has started 15 posts and replied 69 times.

Originally posted by @Brad Moncado:

Chad, 

I own all my vacation rental homes, and all my homes VR's are within 15 minutes of where I live.  At our event last year we had a speaker panel on managing a VR from 100-1000 miles away and our group loved it!  Having a power team is the key, with the most important being a quick response appliance repair/handy fixer upper person, a fabulous cleaning team, and a community of other owners that will communicate with each other.  Other than that, people can self manage from afar and enjoy life.  Hope that helps!

Brad :-)

 Hi Brad. I did a quick search on Branson on airbnb and found a few of your homes. Very nice! Also looked at. Realtor. Com and homes are about 40-50% cheaper than the airbnb homes in looking to purchase and have purchased.

Would you be interested working together (managing) if I decide to invest in your town? 

Still really early but I like what, I'm seeing. 

What time some of the tourist attractions in Branson? 

Post: Can foreigners get mortgages in the USA?

Akash Y.Posted
  • Vancouver , Bc
  • Posts 73
  • Votes 13
Originally posted by @Priyanshu Adathakkar:

@Federico Gutierrez Not necessarily, this is still a single member LLC, and you are the principal of the LLC, as long as you have a track record, you are good.

 Not necessarily on getting a loan or requiring a ssn?

Post: Can foreigners get mortgages in the USA?

Akash Y.Posted
  • Vancouver , Bc
  • Posts 73
  • Votes 13
Originally posted by @Priyanshu Adathakkar:

Form an LLC and transfer the properties to that LLC. This could be a single member (you) LLC. Now you have a US entity that owns the property..

 So my US entity would be able the secure a US loan? Don't I still require a ssn for the loan? 

Post: Can foreigners get mortgages in the USA?

Akash Y.Posted
  • Vancouver , Bc
  • Posts 73
  • Votes 13

Do I need to wait 2 years of seasoning if the home is under my personal name? I've ownrd this home for 6 months. What if I can provide a year long lease would I be able to use this remt as income?

I actually prefer cities that charge these occupancy taxes so at least I know it's permitted in said city. Only thing I need to do then is locate a home  without an Hoa or one that don't have rental restrictions in their cc&rs

Post: Can foreigners get mortgages in the USA?

Akash Y.Posted
  • Vancouver , Bc
  • Posts 73
  • Votes 13

Hi everyone 

I'm fairly new to BP and I'm looking for advice on how to secure a loan to invest in the USA. I live in Canada and I own 1 single family home in Arizona. I'm looking to add a few more to my portfolio. 

I have about 200k usd cash also. 

I'd like to know if it's possible for me to get a traditional loan in the USA at a decent rate. 

I have spoken to a broker and this is what I'm being offered 

1 Fixed Rate ARM

Rate at 25% down would be 7.99%

Rate at 30% down would be 7.745%

Rate at 35% down would be 7.615%

Rate at 40% down would be 7.495%

Rate at 45% down would be 7.365%

These seem high compared to my 3.2% heloc I have in Canada, is this a good rate in the USA? 

Thanks... 

Post: Learning from Investors in Surrey, BC

Akash Y.Posted
  • Vancouver , Bc
  • Posts 73
  • Votes 13

Did this meet up happen? Not sure if achieving the 2% rule is possible in metro Vancouver. I live in surrey also but now just invest in the USA. 

Does anyone know of a lender in BC that will give me a loan to purchase in the USA? 

Originally posted by @Michael Greenberg:

I'm on that path @Brad Moncado.  Two properties in Scottsdale, AZ, will be buying two more this year.  I have been slowly finding folks like yourself and working on creating a group that are on this same path.  If you want, PM me your contact info and we can connect and share further ideas.  

Cheers to You!

Mike

 Hey Mike. I too have 3 places in Scottsdale and I'm looking for another 2 in the coming month's. Please add me to the group you're creating. 

I host remotely from my home in Vancouver Canada. I have a great cleaning team, a handyman on call which I haven't had to use yet. 

My main problem now is financing. First 3 are paid off in cash and now I'm trying to get a loan but I'm a foreign investor so I'm having to jump through hoops. Because I've had these str for less than 2 years they won't consider the income from these properties. They're actually negatively affecting my application. (hoa, insurance, property tax are all expenses) 

Post: Canadian investors

Akash Y.Posted
  • Vancouver , Bc
  • Posts 73
  • Votes 13

Vancouver here. Currently I own single family in Arizona. Looking to purchase multi family now in the USA but I don't know how lending works. Any advice?