All Forum Posts by: Alain Haug

Hi community,

We are looking for somebody who's able to keep our books up to date (accounting). As of right now the books shall contain transactions in regards to our rental in Indiana as well as transactions related to my wife's Health Coaching business, which will be divided in US and Swiss business. We expect a monthly effort of around 2 hours.

Can you recommend someone who does not cost an arm and a leg? Do you have experience with virtual book keepers? Who do you use?

Thanks a lot in 

@Darnell Lockett thanks for sharing your thoughts. We will contact the banks checking if that‘s an option.

@Kai Kopsch thanks for this advise. We will reach out to the banks to check if we are able to already do this (perhaps apply for a TIN) or if we have to wait until I am in possession of a SSN.

Hi @Doug Smith, thanks a lot for your swift reply. We are considering to move to FL but ultimately it depends on where I can relocate to with my company. However, it will be definitely in the south and on the ocean. If my wife and I buy a property together, will we be able to use her credit score and my income?

Hello BP, and greetings from Switzerland.

Simple question, not so easy background:

Will we be eligible for a conventional loan (Freddy Fannie)?

Background: my wife and I are currently living in Switzerland. She is US citizen, I am Swiss. She is self-employed with tax optimized income. I work for a big IT company on a salary. While she has a great credit score, I do not have one at all, as I never lived in the USA.

When we invested in the past from abroad, we were only able to qualify for an asset-backed commercial loan.

Now we are planning to move to the states within the next 12 months and would love to purchase a triplex or four Plex on a conventional loan for House Hacking, as soon as we arrive in the US.

Will banks be willing working with us when I have the regular income and she has the great credit score (combined we are the ideal candidate) or will the look at us as individuals hence refusing working with us?

Looking forward to your qualified opinion.

@Cris Normandt

Thanks for sharing your experience and sorry to hear it was such a hassle to deal with. My brother in law deals with the issue and we only hear fractions of his hassle, but so far we share the same experience when it comes to the HOA.

@Stephen DeThample

We are not sure whether the leak was fixed or they only turned off the water (we assume the first).

The upstairs unit is rented and we had no chance so far to talk to the owner.

Hi BP community I hope you can help us.

We recently inherited a condo in Las Vegas. Since this just happened a few weeks ago, the property is still in the name of the deceased.

Unfortunately, we have just learned about a water damage caused by the people living upstairs. We also learned the deceased did not have home insurance.

This brings me to my question: who is responsible to pay for repairing the damage (How is it handled in NV)? In my opinion it should be the one who was causing the damage aka the upstairs people or their insurance. However, we received conflicting information suggesting the repair would be covered by our insurance (which we don’t have on this property).

Appreciate your professional opinion. Thanks a lot in advance.

Thank you everyone for your swift replies.

@Zach Lemaster My wife still files taxes in the US, but since she is self employed her income is very tax optimized. We spoke to a couple of lenders and they are usually overwhelmed with our situation. Therefore, conventional financing will most likely not be an option. Thats why we are looking for a lending partner who understands our situation and is willing to work with us.

Also, thanks for sharing contacts of other foreign investors, I will definitely reach out to them.

@Timothy Lewis Thanks for the book recommendation and pointing out the importance of a good team. We are listening to the BP podcasts for a few years now and also read some of their books. Until a few weeks ago, our plan was to go the BRRRR route, but we came to the conclusion it might be too complicated and risky to do so from the other side of the big pond. Thats why we decided to start investing in TK properties and working with "full service" companies.

@Chris Coleman thanks for sharing www.hipsterinvestments.com. Did you work with Ali in the past?

@Joseph Schweizer great post. Thanks a lot. This gives me a lot of confidence to further pursue the TK investing route.