@Ali Boone
Thanks Ali!
Taking your points one by one:
I don't have a team I can trust or anything else yet. But am sure keen to start looking for one :). I have some friends involved in US REI, but not having any boots on the ground is going to be a real issue for me this early on in my investment ‘career.'
It’s good to hear about turnkey being a good prospect if the provider is reliable. I assume the area that units are bought in also is quite essential. Time to do some market research!
> Are you meaning to potentially partner so you can get a traditional US mortgage? Or for some other reason?
Yes, thats right, I think. I was looking for a partner to lower the loan rates and down payments required of me as a foreign investor.
• If you're international, you need to first get the property US entity in place and then a US bank account. Those both need to be there prior to purchasing anything or you could end up in some tax messes.
Hmm, that sounds like a lot of trouble, but was totally expected. Time to start researching it more. I have been looking at HSBC as a possible way to get qualified for US loans.
https://www.us.hsbc.com/home-loans/products/international-borrowers/
• Have you heard of the BRRRR+turnkey model? The turnkey provider does all the same work they normally do but they use your money instead of their's, so you get the added benefits that BRRRR offer. You'd want to make sure you only work, again, with a seriously trustworthy group. Since it's your money on the line and not theirs.
I had not heard of this method this early on in my research. Thanks for the suggestion. Another concept to add to my list!
• You said you have 40% of less than a $100k house. How much do you have exactly? BRRRRing can cost more upfront with the rehab being paid cash, etc.
Exactly, is a disclosed figure 😉 but I take your implied meaning.
Thanks again for your warm welcome and response. Really appreciate it!
