All Forum Posts by: Kai Kopsch

Hi Ugo, First things first, you're right about the Canadian real estate market being a bit of a challenge for those looking to get the most bang for their buck. You'll want to research your market. This is where you put on your detective hat and dive deep into the world of real estate data, demographics, and trends. Once you've found your market, it's time to find financing. This can be a bit tricky, as you'll need to navigate the complexities of securing financing for a foreign investor. But don't worry, with a little persistence and the right team, you'll be able to find a lender willing to help you realize your real estate dreams. As a former "foreign investor" myself it's all about the team that you hire in the US make sure they have experience with FIRPTA Withholding and nonresident alien financing.

Columbus & Raleigh-Durham are both great places to invest as an out-of-state new investor Short-term rentals can be challenging and is always subject to new local registration and taxes. 

First, let's address the seller's eagerness and their creative financing options. Proceed with caution!
There is a similar home on the market with seller financing 977 Jasmine Ln, Florence, SC 29501 that sold in October 2023 for $345K. The current asking price of $440K for the new listing seems it's a bit of a stretch. The median home list price in Florence, SC, was $220,000 in March 2024, down 2.2% from the previous year. This property is listed with only $1,320/Year Property taxes in 2023. The previous year's Property taxes as an out-of-state rental were $5,893 at a $266,868 Tax value.

If this is an investment property, you would need to get at least $3,500 in rent per month. However, the average rent in Florence is only $977 per month. Happy house hunting!

As a property owner, you are generally responsible for a number of maintenance repairs. If these repairs are left to the tenants and they fail to carry them out, it could potentially lead to a decrease in your property’s value.

Here are a few:

1. Structural Repairs: This includes repairs to the walls, roof, and foundation of the property.
2. Plumbing: Any issues with the property’s plumbing system, such as leaks or blockages, are usually the landlord’s responsibility.
3. Electrical Systems: This includes wiring, circuit breakers, and outlets. If there’s an electrical issue, it’s typically up to the landlord to fix it.
4. Heating and Cooling Systems: The landlord is responsible for maintaining and repairing any installed heating and cooling systems.
5. Appliances: If the property comes with appliances, the landlord is responsible for repairing them if they break down.
6. Safety Repairs: This includes things like smoke detectors, carbon monoxide detectors, and any other safety equipment the property might have.

Remember, these responsibilities can sometimes vary based on the terms of your lease agreement, so it’s always a good idea to clarify these points with your tenants.

I began investing in the US real estate market as an international buyer in Florida, seizing opportunities with foreclosures back in 2008. Fast forward to 2024, while Miami may not offer the 10% gross yields it once did, there are still numerous regions across the US where real estate investment yields are significantly more lucrative than those in the EU. It’s crucial to acquaint yourself with FIRPTA regulations, which mandate income tax withholding on the disposition of U.S. real property interests by foreign individuals. Before diving into the US market, ensure you have a solid understanding of these rules. If you have any inquiries or need additional help, don’t hesitate to contact me. Wishing you the best in your real estate endeavors in the US!

The Charlotte Regional Realtor Association has over 10,000 members, and I'm sure you will find a few of them here on BP. Feel free to reach out if you have more questions & Good luck on your real CLT estate journey! 😊

Purchasing your first rental property is indeed an exciting step towards building wealth through real estate investment. Here are some key points to consider. I would recommend getting in contact with a few lenders to compare:

Securing a Mortgage:

• Down Payment: With $80K saved, you’re in a strong position for a down payment. 
• Credit Score: A minimum credit score of 620 is generally needed for financing a rental
  Debt-to-Income Ratio (DTI): Lenders will look at your DTI to ensure you can manage the mortgage payments alongside your existing debt. Be prepared to show stable employment and income history.

Developing an Investment Plan:

For a private lender, it's all about your track record and the number of Real estate transactions you make per year. If you have success in REI, private money will find you with or without a downpayment, depending on the specific transaction.

I use Eufy home security, no monthly service fees, up to 1GB local storage, and they have GSM cameras if not local WIFI. Most important for me is the Eufy home security sticker on doors or windows. 

Hi Nick,

Put me on your buyer's list.

Happy eastern