All Forum Posts by: Eric Sato

Thank you all again for your swift responses. This is a great "welcome to BP" experience.

@Alan Sue! Yay another JP based xpat (I have been here for 18+ years, so at this stage, I feel more like an immigrant). Your information is very helpful. I was wary of having to use a DSCR loan for my very first rental property in USA... but then again, beggers can't be choosers in some situations perhaps.

I will DM you to learn more about potential lenders who could work with me on a traditional mortgage. 

@Tanner Pile. Thank you as well for the great information. I do have my hopes set on MTR and even STM. That is great to know about DSCR qualifying loans based on LTR rents though...

If I can ask you a question (most likely personal opinion): This is my first USA based property, or will be so I should say, so I am not looking for homeruns. I believe it was on BP podcast that said your first property should be designed to get you through the door / get your feet wet / get you to take the first step (all the sayings). That is what I am looking to do. Do you feel I should look for LTR, or still pursue a MTR (if I can find a lender), based on the current rates and Col Springs market? 

I am 100% okay with playing the longterm appreciation game with minimal cash flow. I am looking to learn the steps and identify the areas where I want to go very deep and become an expert. 

I am also okay with taking on more hands-on work, e.g. Airbnb arbitrage etc... 

 Thank you, Charles! 

Well noted. I will be stateside from early July, so my homework this month is to build my checklist of people I need to contact for this first ever USA property purchase! 

Thank you for the swift response! I will look into those two resources. Before I dig in and read more / study up, do DSCR loans have limitations/requirements around personal loans vs via an LLC etc...?

Thank you once again!

Hi, 

I am new to the USA real estate game (new to real estate in general). 

Quick Version: How difficult will it be to find a lender for purchasing properties in USA, while my W2 income is entirely non-US based Income and while I am primarily a resident of Japan? 

Long Version: I live and work in Japan and my entire salary is Japan Yen based. I am however a US citizen with a 750-800 credit score (dropped from 800 recently as I opened 2 new credit cards, doing the flying/MileMethod/points strategy, and expect it to go up again in about 30 days). 

I have US tax returns, as I do need to file both in Japan and USA. I also send majority of my money back to the states for investment purposes. I also travel back to the states a couple times per year (and could travel more often if needed). 

Total Compensation (pre-tax) with Bonuses and RSUs is around 280-300k USD ATM. I also just purchased three single room properties in Japan, at 0% down, since Japan interest rates for investment loans are still only about 1.7% (0.3% for personal mortgage loans). 

I want to purchase a property in Colorado Springs this summer as either a long-term or midterm rental (traveling nurses, etc…), and I want to know my best chances for finding lenders. 

Any advice would be greatly appreciated. 

Cheers, Eric Sato