All Forum Posts by: Eric Kang

You can google wholesale purchase agreement. Also, you will find some documents you can download in BP https://www.biggerpockets.com/files/user/grennie_j...

And you will have to revise the contract to your terms. Also look into Assignment Contracts, since you will need it if you are going to wholesale

You should already have escrow company and title company lined up and should be written in your contract. I can refer you to one if you need an investor-friendly escrow company.

Hi Luke,

We do portfolio lending and might be able to help you out.

Give me a call when you get a chance!

Bob, I think you misunderstood my question here. My question was, which markets have 8-11% cap rates? Never said anything about buying an 8% cap in a 10% or 12% cap rate market. I'm asking about markets with high cap rates, not just higher cap rate properties than here in SoCal.

@Glen Woshnak

Most of the clients already have everything setup and they have accounts here in the US. They probably opened all their accounts when they were here in the states. But time to time we get newer foreign investors that do not have accounts setup and we are having a bit of trouble helping them out.

They all must have a business entity. We require them to open a Single Purpose Entity for our loan programs. My understanding is that even then, they are required to come into a branch to sign in order to open an account.

Thank you all for your inputs! I will try to reach out to some of you and hopefully we can connect in person. 

Again, I appreciate all of your comments!

Hello,

Do you  know of any banks that will open bank accounts for foreigners that live outside of US? It seems like the banks require the person to physically come in to sign forms/docs. Even with a power of attorney, most banks will not allow it.

We lend to foreign internationals and we're having trouble setting up accounts for them.

Any advice/help will be appreciated. Thanks!

If you have a number of residential properties and would like to get a blanket loan on all, we have a perfect program for you.

Max LTV 75%

Min. DSCR 1.2

Let me know if there is anything I can help you with!

 Sorry, I wasn't asking for best total profit including equity gains. SF, SJ, LA, and SD home prices are too high in my opinion to get any type of cash flow. If you take out the appreciation out of the equation, there is no way that California market is up there. I'm looking for best rental markets... Comparing rent vs. home value

@Ali Boone

Thank you for your input. Which markets have 8-11% cap rates?