All Forum Posts by: Ofir R.

 So the big secret is where to find property that I can buy for 100K and rent for 1300 a month

 Thank you! How about turning 500K to 4K monthly income? Would that be more possible to your opinion?

Thanks! Yes, I know it's a challenging thing. Which is why I'm trying my luck here to get some ideas and inputs, how is this even possible if at all. 

Hey there, big pockets.

Here is a theoretical question and I'd like your take on it, whoever you are and wherever you are.

Mister X has 500,000 USD. He doesn't have credit score or a fixed job - he's an artist, so his income is irregular. 

Mister X wants to put his money into real estate and get to a point where he has a passive income of minimum 8K per month, in less than a year.

He only wants to deal with Real estate, with real physical things that he can see. No stocks or bonds or anything like that.

Is that possible? Or a silly fantasy? What would you do if that person was you?

Good day! I’m a German citizen and consider residing in California. I’m not an American citizen but I might get an O1 Visa, which allows passive income. 

I currently own property in Germany that I consider selling and investing some of the of the money in US real estate market. 

Say I want to buy an apartment which is worth 200K. I bring 100K in cash and take a mortgage in the US for the rest (will be difficult as a foreigner but possible), rent the apartment out (long term) and using that money to pay for the mortgage that I took, and all expenses (tax, management etc.). Is this scenario possible in the US? Are there areas where it's possible to buy property in a low price and rent it in a price that covers the expenses and even bring in some earning?

If say I manage to do this, and even have any leftover income - how will these leftovers be managed? Wired to my German account? Stay in a US bank account?

How will they be taxed?

And lets say, this very scenario, if I want to do this scenario a couple of times. Say instead of one property, do it on 3 properties, on each apartment I bring 100K, and take a loan of the rest of the money. Can I take multiple mortgages?

Can I do that as a foreigner?

Can I do that without a fixed income, if my plan is to have my income from the leftovers of the apartments?

What about living in one US state and owning/letting in a different US state?

And on O-1 Visa?

I know these are lots of questions, but it's a start. I'd appreciate every feedback. I'll be also glad to speak to someone going more into details regarding investing/visa/taxes ect. But I don't know where to start! Can you make a suggestion for a company/entity/person that you trust who will understand these things, with whom I can consult (and pay for consultation, obviously). There are so many crooks and bullsXitters out there!

Thank you,

O

Hey Maisam, 

Germany is a great place for many reasons but very conservative and old-fashioned in other aspects. Applying for a job not in German must be only specifically if this is what they are looking for - if it's a German company and you send your resume in English they won't take you seriously... Unless they state that they want English speakers for the position.

My humble advice to you as someone who lives here for 14 years - invest in learning the language, and while at it, try to find jobs that are aimed at the English-speaking market. I have no idea where to find these but I'm sure you can research it. 

Do not lose hope and welcome to Germany. It takes time to adjust!