All Forum Posts by: Christian McKinnon

@Laura Yates

@Pauline Zhao

Thank you so much for both of your replies and I feared that this was the case. I don't really know of many other Americans who are in similar situations (living overseas and trying to purchase investment properties in the US) and so these replies have been very incredibly helpful.

It seems reasonable to go ahead and try to pursue financing of some kind -- whether it be a hard money lender or forming an LLC. Considering current market conditions and the amount of time it may take to save up the remainder of my target and purchase the property in cash, I'd agree that it couldn't hurt to explore financing options.

I do, however, wonder why it would be difficult to cash out refinance a property that I own in it's entirety simply because I purchased it without a mortgage?

Thank you again for all of your input!

Thank you for your reply Frank! Can I ask whether these investors managed to purchase their rental properties with mortgages, or did they pay for the properties entirely in cash?

Hello all, I am an American citizen living overseas who is looking to invest in rental income properties in Charlotte, North Carolina.

I was wondering if it's overwhelmingly difficult to apply for a mortgage with foreign-earned income? (I have no W2s as I am working for a foreign company in China)

According to my understanding, investment property mortgages require a minimum of a 20% down payment up front which is fine as I have already managed to accumulate a down payment somewhere in the ballpark of 50-60% of my max budget -- my questions are:

Would it be better to take out a mortgage for the remaining 40-50% of the cost and pay it down with income over time, or to just save up the remainder and buy it outright? Is this the only option I have as I am currently living overseas without any reliable means of proving my income?

Thank you for any input you might have!