All Forum Posts by: Mohit Madaan

So, me and my partner are starting a joint venture where we want to buy rental properties and may be do some flips on the way. We both have our fair share of experience owning real estate and working our way up.

The plan is to find properties under 100k and get mortgage on those (maximum LTV possible) and rent them out.

Considering the partner i am involved with have terrible credit and me being a foreigner what is the best way to go about it to ensure we get some sort of lending on these rentals?

Starting out in Stockton, CA area and perhaps expand from there! We can afford to put down upto 30% if that gets us good interest rate.

Thanks in advance

hello guys, just want to quickly say hello to members in Stockton area. I am a foreigner (from india) and am starting to look into properties in Stockton here in near future.

Would love to connect with people in the area. I am in US around 2-3 times year, well may be more now that i am going to start building a portfolio.

i would love to hear if any one has a opinion on what Ron just bought up?

I got a buddy who was born and raised in Stockton and have lived there for 30 plus years. I also run business out of that area. We are forming a LLC and thinking of starting to pick up properties all over the city.

He lives on Country club blvd but that's not in our budget to pick up houses for investment or flips.

Will keep the thread posted. I am in Stockton 2-3 times a year and would like to catch up with fellow BPs on ideas and network with people in the area.

Hello everybody,

I would like to start my journey at BP with this quick introduction post. My name is Mohit and i am from New Delhi india, i am 26 years old and travel to US couple of times a year for business. My office in US is in Stockton, CA area but i have been to many large cities in US.

Real estate - Fun ride for me... First deal i bought about 4 years ago was for $100,000 and i just sold it yesterday for about $190,000 in india. The dollar is so strong now a days vs INR otherwise it could have been more than double in terms of USD. It is more than double in INR for sure.

Anyway, i own a commercial building in New Delhi area which is worth around a million dollar and is fetching about $4000 monthly rental income. Own few small land deals in india for about $200k (Small land lots that i might build houses on before selling).

Currently digging more information on investing in rentals in US before of the following reasons:

a) Rentals are crazy high on residential properties as compare to india. My $200,000 apartment was bringing in $210 a month in india.

b) interest rates are super low

c) Properties are selling at almost all time low in last 10 years.

I think i am going to start with a small project say a $100k house in Stockton area where i put 20 to 30k down and let the bank finance rest. I know foreigner mortgage is a little hard but i am doing my research in that area already. So the thought process right now is get get a mortgage at maximum LTV and buy a house and rent it out and see the original down payment grow.

So say i put down $30k and gets a $75k mortgage (including closing cost) and have a payment of about $560 a month for 30 years. It should be easy to get a little more than $600 in rent to pay mortgage payment, insurance and property tax. If i can make that happen this will be on auto pilot and i can expect to see that original 30k growing with property rates going up, rentals going up, mortgage payment remaining the same and increasing equity on the house every month.

If this works out fine for 6 months to 1 year, i will just try to a build a portfolio of 5 to 10 small houses (below 200k) and invest 20 to 30% in each house.

Does that sounds like a good plan? Any suggestion is highly appreciated.