All Forum Posts by: Natasha Rooney

Look up Michael Drew (Real Estate Done 4 U). He is based in Indianapolis and works with a ton of OOS investors. At worst, he is a great resource for Indianapolis. Following the team at DealMachine would help also because they are based in Indianapolis.

Thank you so much for the recommendations!

0 Votes

Indianapolis, Indiana

Hello BP Community!

We are looking into the possibility of starting out OOS investing in Indianapolis. Any insights/people with experience in this market who can chime in? We have done lots of research about the city, but I know there are things that can come up from people with experience, especially since we are OOS (and out of country too actually!). Any areas of the city that are recommended to start looking in? We are specifically interested in multifamily properties (2-5 units).

Thank you in advance!

2 Votes

Indianapolis, Indiana

Oops! I know this will be deleted/hidden.. sorry! My mistake! :)

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Indianapolis, Indiana

Hello BP Community!

I am looking to connect with an OOS investor friendly realtor in Indianapolis. Looking specifically for multifamily real estate investment opportunities. We are in the beginning stages of OOS investing and trying to narrow down on a market.

Thank you in advance!

0 Votes

Indianapolis, Indiana

Hello,

Starting to research about STR options/opportunities in Mexico (as a Canadian living in Canada). I understand that a fideicomiso is needed if we are wanting to own a property by a beach (which we would). However, if using our property as a STR via Airbnb or another platform, would we be required to go the option of a Mexican Corporation instead in order to get an RFC?

Thank you!! Any info/insight on this would be appreciated :)

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Quote from @Mike Lambert:

@Nick Belsky

I'm not sure why you're generalizing the mortgage conditions in Belize to the rest of the area because they're very different. I've been investing in the area for years (not in Belize) and I haven't seen the kind of conditions you're describing so maybe they just apply to Belize. For example, in Mexico, you can put less than 40-60% down, interest rates are in the single digits and you can get 20- to 30-year mortgages (and you can't get anything shorter actually) and the right areas would fit within @Richard Foltys' criteria. As Nick mentioned, Airdna would be helpful here.

Hello! Just wanted to ask a question about this. Do you mean that you are able to get a mortgage within Mexico? Or are you meaning taking out some type of mortgage from Canada and applying it to a foreign property in Mexico?

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Quote from @Michael Higgins:

Hello Natasha.

If you require financing, you will have to apply for a DSCR loan. DSCR stands for Debt Service Coverage Ratio, which is a calculation that determines if a loan's income covers its annual debt service.

As of today, the current average interest rate for a 30-year fixed mortgage in the US is 6.91%.

DSCR mortgage rates are typically anywhere between 1% and 2% higher than conventional loans.

Please feel free to reach out directly with any questions or concerns.

Hello! I am going to send you a message to get some more information :)

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Quote from @Melvin List:

@Natasha Rooney rates will also be different depending on if you have Credit or not. Happy to answer any questions you may have.

Sure! I'd love to get some more info about approximate rates that we would be dealing with :)

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Hello!

We are just looking into ALL the things before diving into purchasing an investment property and have a question for a mortgage broker or anyone who may know. We are planning to purchase in cash, however, if requiring financing, how much higher are mortgage rates for a Canadian investing in the US market?
What is the avg. mortgage rate right now for US vs Canadians investing in a US market?

I have been told it is about 3% higher in general for an out of country investor, is this true?

(I know it also depends on area so it won't be super exact, just looking for a ballpark!)

Thank you!

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@Jon K. Thank you! I did come across this book but haven't purchased it yet! Do you think the info is still relevant even though it was made in 2019? Thanks!

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All Forum Posts by: Natasha Rooney

Natasha Rooney has started 11 posts and replied 39 times.

Post: Multifamily Properties in Indianapolis

Post: Multifamily Properties in Indianapolis

Post: Indianapolis Investor Friendly Realtor

Post: Indianapolis Investor Friendly Realtor

Post: Fideicomisos VS. Mexican Corporation for STR in Mexico

Post: Seeking Advice on Best Long-Term Investment Locations in the USA or Caribbean for STR

Post: Mortgage Rates as an Out of Country Investor

Post: Mortgage Rates as an Out of Country Investor

Post: Mortgage Rates as an Out of Country Investor

Post: Recommended Resources for Estimating Rehab Costs/Info on Rehab Costs