All Forum Posts by: Kai Kopsch

Opening a Bank account in the US is possible without an SSN or ITIN most Banks require in person with a valid foreign passport. As Darnell stayed adding you as an authorized user is the best way to establish credit fast. For example, Chase doesn't require an SSN for an authorized user. There are some credit cards in the US available that don't require a credit score or SSN, like TomoCredit or AMEX if you have already a relationship with them abroad 

@Alain Haug  I'm not a mortgage broker, but I moved from Germany to Florida; there is no way to qualify for a conventual loan without you having an SSN and credit score and paying taxes in the US. Many foreign national loans are available that allow your Swiss income; most of them require a minimum of 20% down. If you plan on selling your future FL home, the IRS requires 15% of the sales price to be withheld on the sale of United States real property interests by foreign persons. To avoid this, get a green card as soon as possible to get an SSN. Open a US Bank Account together with your wife as soon as possible to get US credit cards to get into the US FICO system(takes a minimum of 6 Months)

In 2023 you have to hustle; renting to healthcare professionals is a great option. Get a list (Hotsheet) from your realtor with homes in the Monroe NC area that are longer on the market and make offers on those.

Overall, the Charlotte-Concord-Gastonia real estate market is poised for growth in the coming years, offering opportunities for both buyers and sellers this spring of 2023.

Looking ahead to March 2023, the Charlotte region's housing market will likely remain relatively stable, with a gradual increase in inventory, as more sellers enter the market. Months Supply of Inventory increased from just 0.6 to 1.3 a + 116.7% & Median Sales Price year to year from  $360,000 to $365,000 + 1.4%.

For buyers, this market forecast suggests it may be a good time to purchase a home in the Charlotte-Concord-Gastonia area. With a significant percentage of sales occurring below the list price, buyers may be able to negotiate better deals.

For sellers, the forecast indicates that there will be continued demand for homes in the Charlotte-Concord-Gastonia area. However, inventory is rising, which may lead to increased competition among sellers. Homes in good areas priced reasonably still reserve multiple offers and sell quickly.

Yes, I lived in the property while renting out the garage apartment and never really meet the tenants after the move-in sure with STR you have more ROI but more work too

I had a home in Cornelius NC, just a few minutes north of Charlotte, with a two-story detached Garage rented out long-term primarily to NASCAR team members. Very short turnover time because affordable housing is rare in Charlotte. I'm sure sort them rental would work as well. 

I talk a lot to first-time home investors here in CLT; less than 4% of all BP members who contacted me in the past years pulled the tricker—analysis paralysis and compared their deals to once-in-a-lifetime cash-flowing examples posted here in the forums. I hope more first-time investors see their first few deals more as a learning curve than a home run. Sure distressed properties are cheaper, but they come with risks and problems you don't want to have as a new investor. The most important is to do a deal don't lose money; take your experience and the team you build in the first deal and do the second, and so on. In Germany we have a saying : Lehrjahre sind keine Herrenjahre We've all got to start small

Long-term rentals and pools are nightmares; you can easily have pool repair costs wiping out a whole year of rental income profits. Best of all is the liability if, for example, the neighbor's kid gets insured in your pool because the pool gate was not working.

Amex business CC does not report to your utilization. The 30K was just an example of what limit I have on my Blue Bussiness Plus. They start mostly with 10K; after 3 months, you can ask for an increase they go max 3X. For some CC, you can get up to 1K bonus I always get a new one for a flip. They are a relationship Bank I only got one inquiry for now 7 Cards. Important is to start slowly and call them to let them know what you do; they love to work with RE Investors and Realtors you can get easily $200K over time with multiple CC.

Lenders prefer an easy transaction. In this case, you never know what the actual difference between the appraisal and closing price is. How do you calculate the deal before the appraisal? I'm sure if you have an awesome relationship with your Credit Union, this could be done in some rare transactions