All Forum Posts by: Dylan Collier

Thank you for your Quick reply Lucia, and welcome to the area as well. I am currently working out of State at the moment but would enjoy to meet up when I am back in town. Which areas are you looking into? I have been looking into mostly the east side of the DFW area, not excluding Arlington.

Finally thought I would put an introduction to the forum. My name is Dylan and I have been looking into my first real estate purchase within the greater Dallas area, I am primarily looking for multi-family homes (up to 4 units) for buy and holds. Hopefully make some local connections. If any one else is from the area I would love to hear your stories and experience. Coming from out of State so any advice is always appreciated. Speak soon!

I would primarily be looking into the southern states, Texas is especially worth noting because of lending criteria from a Texas branch. I have reached out to some of the larger banks but am thinking more down the credit union, portfolio lender avenue. Seller financing is also an option I have been researching but hard to build a relationship to approach the subject from afar. - Dylan

Also @Samuel Sedore, I have seen that you are a multi- family investment specialist based in Canada, also being Canadian myself, do you know of any experience with obtaining financing in the U.S? I know there is some Canadian banks, who will lend to Canadians (Good Canadian Score assumed) but on a higher Loan to Value ratio, otherwise most Canadians I know seem to opt for a full cash price as this will often be a second home. Investment properties often have their own rules, and I was wondering if you have come across this before?

Thank you Samuel, that is a good point, one I have previously overlooked. I have been looking primarily into the southern states, Texas and SC, but have not really looked into the Arkansas market. Have not actually been through AR in a while either so will definitely need to look
at any resources I can find on the local market.

I will be relying primarily on a property manager to run the day to day,(Which is a whole topic on itself) but having government support never hurts. Will also need to look into local lenders. Thank you again for your advice!

Topics: Advice on Investing as a foreigner; local markets, financing, advice for a constant mover
Look for underlined sections for a summary.
Good afternoon fellow investors,

Hope you are all doing well. I would like to start by introducing myself, my name is Dylan Collier and I am originally from Canada. My partner and I work on a yacht, which means that we are in a great position to travel the world and see some changes in the global market, an upside for some investors looking overseas, but a downside for us who struggle to be knowledgeable on a local area. Any one willing to lend an ear or word of advice is always appreciated. 

I would like to start my investing career in America, as I truly believe the market is still both affordable and offers promise for a stable future. I take any downtime that I have abroad (generally 2 weeks/ 5 months) to travel to the states to assess properties, but still find it is very hard to truly get a sense of the local market. I guess what I am looking for is any advice people have regarding local markets to look at and research or areas to avoid. Pretty open about an area, but anywhere where the tenant/rental market would show good cashflow. I have traveled to Texas the last few times in America for this reason. Any advice for an out-of towner?

The second thing I have been struggling with is trying to find any concrete information about traditional mortgages for foreign citizens who do not have a stable address. I have approached some larger banks, but acquiring a U.S  credit score will take some time and nothing would help more than to prove to a bank a capability of paying back a loan. Foreign citizen mortgages do exist but the percentage required for a down payment (generally 40%) would mean I would be losing leverage. I have been researching little money down investing, as well as refinancing if purchased in cash (a subject I still need to learn more about). Luckily there is no shortage of books on either subject, but it is finding relevant information. We have a bit of cash, and a solid influx with our current wages but would like to use that money to leverage many properties rather than one single house cash down. Does anyone have any advice for someone (especially foreigners) for aquiring financing or owner will carry advice? 

Would like to get started investing soon, and I would like to make the most of my time tailored to researching while I am away so I can purchase my first home when I am next in America. Then the sky is the limit.

Thank you for reading and I hope to hear from you soon. Until then Happy (and Successful) Investing!