All Forum Posts by: Marco Santarelli

@Angelica Morales -- Welcome to BiggerPockets!

Nice to see another SoCal neighbor here on BP. :)

As you know prices in most of California are high and not ideal for buy-and-hold real estate investors. In addition to the fact that the rent-to-price ratios are very low compared to many other markets around the U.S.  That's why many investors choose other markets in other states, as I did as far back as 2004.

What markets are you considering?

Continued success!

Hi @Irene Marie — hope all is well 

I’ll have your investment counselor, Steve, get back with you on that.

Thank you.

P.S. Marco -- @Jerry Padilla is correct.  There are many portfolio loan options available to you, each with varying terms, but the "cheaper" conventional financing is reserved for U.S. residents/citizens.

So don't worry too much about financing as you'll likely find something that works for you.

Ciao @Marco Magoni!  Welcome to BiggerPockets.

The short answer is Yes.  Foreign investors invest in U.S. real estate all the time.  We have clients from Japan to the UK investing in markets all around the U.S.  You can do it too -- the key is to have the right team to help you.

If you have a specific market in mind then you can work to research and assemble a team in that market to help you find, improve, and manage your properties.

If you're not sure what market to focus on then you'll need to start with doing some research on selecting the best markets for you and your goals.  Once you have a market picked out, you can assemble your team, and/or work with a local broker or builder.

Another option, in addition to or in place of the above, is to work with a national provider of turnkey properties such as ours.  Either way, you will need to have the right people in the right seats "on the bus".  :)

Continued success!

@Jhanna Dawson — yep, you got it right!  ;-)

CC: @Rob B.

Continued success!

Hi @Tony Kim -- Keep in mind that the city is a Macro look at a market. It's important and a first step but like my sixth (6th) rule of , you must consider the area and neighborhood just as much, if not more.  The neighborhood will have a larger impact on your cash-flow than the overall market.

This is why we consider every layer. They all play a role. Therefore, don't invest "blindly" by market suggestions alone.

Continued success!

Awe, shucks...  Glad you like my podcast! 

Thanks Jasmine!  :-)

Hi @Ron James — Welcome to BiggerPockets.

We have worked with both (still with one).  Regarding MI, they should have disclosed to you that the property is priced above market value. It’s your decision whether you want to pursue a deal priced that way. I personally wouldn’t.

That is NOT normal or typical with turnkey investments. Very few of our properties sales are priced above market value, so that is the exception not the rule.

Also, an appraisal contingency is often common in a purchase agreement. Always good to have one to give you the option to decide.

Continued success!

CC: @Danielle Wolter 

Yes, very well said @Theo Hicks.

Continued success!

Hi @Jamila L Scales — Welcome to BiggerPockets!

Be sure you understand what someone is selling as “turnkey” as there is no formal definition of it, although we’ve created one years ago.

My understanding from reading threads here on BP is that what they were selling as turnkey was far from it.

Tthe common product they were offered we’re almost always sub-par $50,000 properties in neighborhoods we classify as C, C- or Ds.  Not good 

Continued success!