All Forum Posts by: Halukcan Baser

Each area has different dynamics.  You have young guys in bay area that get stock options worth in excess of more than 3-4 million dollars, of course theyre going to be spending a lot of money. History has proven that places like manhattan, bay area have been more lucrative to invest in the last 30 years. Sure these properties do not cash flow, but you make money on appreciaton. A relative of mine purchased a 1br condo in NYC in 2003 for 350k, he just sold it for 1.2 million.. Thats a year on year increase of more than 10%

According to the metrics the biggest bubble was in NYC and Bay area in 2008, when the property crash happened these places were the least affected ones. They were quick to bounce back.

People invest in Bay Area and Manhattan for prestige, those oil sheiks dont care if the property cash flows or not. They want to show off to their friends by owning property in Manhattan, it wouldn't have the same impact if they said they own property in Wyoming : )))

Congragulations! 

Hello people

The topic sums it up, I want to get into the RE market in the US. I have a 10 year tourist visa. I want to buy some properties, rent them out, renovate and flip some of them. But the thing is I dont see myself living in the USA on a permanent basis so I dont want to apply for a greencard or a work permit. I'll only come for short stints, like twice or three times every year.

So basically I have 3 questions.

1. Can I invest without having a work permit or greencard?

2. How do I handle the tax stuff? Can I do it without holding a Permanent Residence status?

3. I have cash, but for some deals I might want to take out a mortgage, how will the banks lend to me without knowing my credit score? Since I've never lived in the US before I dont have a credit score.

Thanks for the answers!

Sounds like your wife personally knows the guy very well, and theres a very high chance shes cheating on you. Get a good divorce lawyer ASAP

What kind of convict are you targeting, sex offender? Rapist? Murderer? Tax evader? Id only consider renting to sex offenders, like a teacher who had sex with her student, dont see why her love for teens would make her default on her rent.

I'm from the capital city, Ankara. The property is located 3km away from the downtown area.

High end homes in Istanbul cost around 5000$ per sq M, the ones that have view of the bosphorus cost as high as 7000$-8000$ per sq M

In the capital city, a high end home costs around 3000$ per sqm

Near downtown you can rent an old apartment with 3 bedrooms, however on the outskirts of the city (20-25km away) you can rent a fairly luxurious condo with 4 bedrooms and security, fitness center etc.

Location: Ankara,Turkey.

It's roughly 3km away from the CBD, an area called Cebeci, where there are 3 universities, very easy to find a tenant, it took me 2 days. Usually 3-4 students come together and rent it.

Wow, I wasn't expecting getting this many replies : )))

Seems many people here use financing, insteading of paying cash upfront. My family is engaged in real estate investing, we rarely seek financing when buying property because of the fragile economic conditions here, an economic meltdown usually takes place once every 7 years. In 1987 a crisis took place, 1994 another one, 2000 there was another crisis, 2008 another one : )))))

A mini crisis took place this year as well, the stock market plummeted around %20-25 after worries of FED tapering.

This is why I want to layout a plan to diversify our investments across the globe, I'm looking at USA,Philippines, Thailand right now, one at a time, without taking on any debt.

By the way for those that are curious, the property I purchased is located 3km away from the CBD, but its an old apartment, roughly 50 years old, but doesn't need major maintainance.

Salaries differ greatly as well compared to a developed country.

Teacher working for the state roughly makes 1100-1200$a month, police officer 1400$, minimum wage is around 430$ a month, you get the picture.

Thanks for the replies, very much appreciate it :) Wasn't serious about moving to the USA part, but I'd like to buy a property over there one day, as an experiment :)

Kudos to the people achieving 24% gross rental yield in an industry where 9% is amazing.