All Forum Posts by: Alex Allemand

Originally posted by @Timothy Lewis:

Welcome to Miami @Alex Allemand

You are also in a ideal position to network with other investors to do a Joint Venture deal. 

Hi Timothy, thank you for your reply, that also a solution. However for a fist investment, I would like to start with my LLC only and avoid bad partnerships, and maybe later once I'll know more about the market here and potential partners, why not.

Originally posted by @Carlos Rovira:

@Alex Allemand Hi Alex, there are a number of listings that will provide seller financing or more creative financing terms. This would give you enough time to stabilize any property and find a more permanent financing solution. Happy to connect and walk you through a few scenarios. Welcome to Florida!

Thank you, I'll look for that too! 

Originally posted by @Charles Carillo:

@Alex Allemand

There are lenders that will lend to investors in your position. I know of two of them. DM me. Not sure on terms but they focus on foreign nationals.

Thank you, I'll contact you in DM to discuss about that. 

I assume rates will not ideal, is my budget enough to start buying "cash" a first property to flip? Or is it better to start with a first bigger project that I'll finance? 

Hi everyone, I'm a French investor owning 2 properties in France (rented). I recently moved to Miami for my business, and I'm planning to open another LLC here to invest in real estate.

I have around 130-140k$ cash, and it's difficult for me to get loans (I don't have a SSN yet, so no credit score) 

What do you think it's the best strategy for me? I get few spare time, and my wife will be licensed as realtor here in few months. 

I'm was thinking about starting by flipping a house, but it seems that my budget is a little bit short to find and rehab a house in Miami area. What do you think? 

Thank you for your help. 

Alex

In 2016, you really don't need to pay to learn real estate investments. Internet and some books for détails or law, and that's it. 100$ maximum.  Better spend in a first deal that will teach you more than anything else.

Thank you, yes I will keep it until the end of loan, after that it will gets me a cash flow of 740€

I'm presenting you the first investment I made in 2011. At this time I was still a student in internship, and I really wanted to start investing in Real Estate. I was already investing in stocks but but I knew real estate could offer a better leverage.

So I motivated my parents to invest with me as I was unble to get a loan as a student (even with a good salary). We made a company, bought it, and started rehab!

We bought this little apartment in the city of Aix en Provence in the south of France. As you can see, everything needed to be rehab. There was a strange man living in this place since 30 years, he never went out and stayed inside smoking all the day. The ceiling and walls were yellow of tobacco smoke !

We changed everything, from the wall to the floor, we even cuted the floor to put the kitchen in the other room of the apartment. It’s a small surface so everything has been thought to be useful and avoid losing space. I let you judge of the work we did:

Before:

After

After that, I lived 4 years in, finished my studies, and started working. I bought my current apartment in october with my girlfriend, so now it’s rented, it doesn’t produce a cash flow but it’s a transparent operation. (rents pay the loan), there is 8 years left to finish the loan. Its value is about 150/160 k€.

It was a good first experience but I learnt that single family apartments is not the most profitable investment (at least in my city and around here) so I decided to focus only on multi family buildings, and package of few parkings. This will be my next project.

What do you guys think?

You can check my blog for some other pictures :)

Great topic! I will read every reply. I believe knowledge is the biggest key to succes and and I want to know the maximum before starting on big deals

So is it nearly impossible for a foreigner to get a bank financing? Is Private lender/hard money the easiest way to invest in US?

My goal this year is to buy an multifamily building to rent it. Waiting to have a bigger down payment as I just bought myself a nice place. My second goal is to continue writing my blog on Real Estate and make it more popular. I wish you a successful year to everybody !