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All Forum Posts by: Kit E.

Kit E. has started 10 posts and replied 24 times.

Post: Is NOLA worth the investment going into 2024?

Kit E.Posted
  • Farmington, UT
  • Posts 24
  • Votes 4
Wow I came her to see what people had to say about NOLA ... as it seemed affordable.  I knew it was a unique real estate market .. but sadly all the risks I evaluated were correct.

Post: Exiting The Military, VA Loan

Kit E.Posted
  • Farmington, UT
  • Posts 24
  • Votes 4

Using a VA loan usually got me a half percent lower than on my loan that most people I know. Why not look for a duplex/triplex/fourplex to house hack with the VA Loan? If the VA loan has a funding fee if you don't have the full 20 percent it gets you out of PMI. My larger home has/had a lower monthly cost with the VA loan than friends who did the FHA loan every single time.

Post: International Real Estate

Kit E.Posted
  • Farmington, UT
  • Posts 24
  • Votes 4

@Mike Lambert  Thanks for your opinion, it's always good to hear from self-appointed experts.

Post: Overseas Real Estate Investors?

Kit E.Posted
  • Farmington, UT
  • Posts 24
  • Votes 4

@Mike Lambert The deal is that most HELOC's will get a better rate than overseas mortgages. Not many locations overseas want to give foreigners home loans. If they do they it might cover 65% of the loan not 80% like here. Many of the things we take for granted in the US just don't exist for real estate investing overseas. The one disadvantage of using a HELOC is FX risk but that is dependant on your income sources also.

Post: Marketing Overseas Properties

Kit E.Posted
  • Farmington, UT
  • Posts 24
  • Votes 4
Originally posted by @Daniel Forero Pineda:

@Benjamin A Ersing Hey thanks for answering! I’m looking to target to Colombian buyers.

What sites are you advertising on?  I would check metroquadrado.com or mercadolibre.com

Post: Getting financing for international investment

Kit E.Posted
  • Farmington, UT
  • Posts 24
  • Votes 4
Originally posted by @Benjamin A Ersing:

@Kwame Knights your best bet would be a HELOC or cash out refi on a US asset, and then transfer the money to Guyana for the project.

This is what I would advise also.

Post: International Real Estate

Kit E.Posted
  • Farmington, UT
  • Posts 24
  • Votes 4

Hey all I have been following the Nomad Capitialist on youtube:  Not all of his advice is good for every net worth individual.   Still plenty of ideas to think about.   https://www.youtube.com/user/n...

Post: Overseas Real Estate Investors?

Kit E.Posted
  • Farmington, UT
  • Posts 24
  • Votes 4

@Joshua Biggins People forget to mention you can use a HELOC on an overseas home purchase. I have been watching expat videos on Portugal and it looks affordable anywhere but Porto or Lisbon.

Also if you are a military or GS employee you can transfer your TSP to self-directed IRA and rent out the property.

@Chris DeTreville   

Where can I get a listing of what property tax is for non owner occupied?   Non owner occupied puts it at 2.9 percent for what you mentioned.

Well this is quite an unexspected surprise.  It look like i will cross South Carolina off my list!




Originally posted by @Chris DeTreville:

@Kit E. I have an off market deal that might interest you.  In Columbia city limits, $895 current rent and purchase price could probably be around $80k.  

A general piece of advice; watch out for our property taxes. Our non owner occupant rate is super high.  So if you buy a property for $130k and only get $1100-1200 in rent you will not cash flow. I usually look at a property further only if it beats the 1% rule. 

(Tax estimate for a non owner occupant house valued at 130k would be roughly $3,800/year)