All Forum Posts by: Matt Vega

@Charles Carillo hello there and thanks i already send you a DM

Well the thing of bulding credit with CC sounds like a joke, but well if thats the way then... i will simulate and use different CC to make a better score in a year or less i guess. @David R smith

And maybe buying a house with not so good lending option ? then build a record with that ?? any ideas on how much time it would take to obtain a normal bank mortgage, that way with income from a rental ? i mean to buy a second house, then sell the first house and reinvest the money in a new house with better credit:

HouseA buy with bad mortgage > HouseB Good Mortgage > sell HouseA > buy HouseC good Mortgage > continue 

Thanks for your time and advice, both ! 

Matt.

Hello everyone my name is Matt, i am new a new member of BiggerPockets, and i have a different situation, i am looking to invest in the florida market with a good mortgage or at least a normal one like a common citizen. The thing is, i was born outside USA and i never been there, so i dont have any score or tax history and many lenders told me that no normal bank would accept me even if it is for an investment MFH so i spoke with several professionals.

Most of them told me to pay taxes as a 1099 two years back and start building a score somehow with credit cards and so on, because no lenders or banks cares about taxes of expats cause they dont consider them "real" if they are under the 100K annual cap, that most people lie about that kind of info, sounds really stupid to me but i dont know really.

Realtors told me i should buy a first house with some bad credit, near 10% interest, 40% Downpayment for 15 years (something not really nice) and with that i could start to build a record and obtain after a few months a conventional 4% interest, 25% Downpayment and 30 years (normal mortgage) 

I would like if anyone could give me any kind of advice on this situation, i just want to start RE portfolio in the states and i think that with the chance to have good credit, its a joke to go full cash when buying !

Regards,

Matt