All Forum Posts by: Ryan H.

I live overseas and I’ve never purchased a property in the US or overseas. I’m a US citizen. I would be a first time home buyer.

My wife and I have decided that we would like to start the transition of moving back to the US, specifically Florida. We would be going back and forth between Florida and overseas for a few years until we make a full transition.

I was recently approved for a $200k conventional loan with 5% down as a primary residence in Florida.

I was told by the lender that even though I will not be living in Florida full time, that I can still classify the property as a primary, since I’m a first time home buyer, but I will not be able to claim Homestead on the property. This didn’t sound right.

So, I received a second opinion from another lender and was told that for a property to be a primary residence, I must move into the property within 60 days and live there full time. He suggested that I do not purchase as a primary since I will not be living there full time, and instead make the purchase as a secondary home, but I must physically be occupying the property 6 months out of the year.

So two lenders, with two different answers. It has me a bit confused on my options.

Can someone help clear this up?

@Jay Hinrichs Hi Jay!

I honestly don’t know much about note investing. Is it a better option that stock investing? I’m currently getting about 8% on the stock market, but I’m getting tired of the ups and downs, and looking for more stability.

The COC is my hangup. I own 3 businesses overseas, but no real estate. COC has been the deciding factor.

COC on a business is 20%-50%, so I've kept putting more money into businesses. But where I live, the crime has gotten bad, and I'm looking to plant some seeds back in the US, so in a few years I can move back.

Turnkey seemed like a great approach for my situation, but with low COC it's going to take 5 plus years for any real rental income.

So I calculated the numbers and included the compounding effect.

After 5 years at 8% Cash on Cash return, it would be $2,333/month = roughly $28,000 per year in passive income.

The problem I'm having is finding a Turnkey Provider that can offer COC of 8% and up.

@Lane Kawaoka Hi Lane, I appreciate your feedback. It’s along the lines of what I was thinking. I don’t want to be a landlord, and I own 3 businesses, so I don’t have the time to be land-lording.

I’ve been in the stock market for the past few years, but it’s not helping me achieve my goal, which is long term passive income.

Being overseas, turnkey seems like my best bet. I figured $200-$300 per sfh/unit would be the average.

20-40 sfh/units is the goal, but I was curious what others thought I could achieve after 5 years of constant reinvesting.

@Jack Orthman I really appreciate the feedback. Yes I would be purchasing in the US.

I always thought it would be best to get my feet wet with single family and small multi family, and eventually scale up to apartment buildings over time.

I thought I would need 5 years of investing in smaller properties before I have the capital for the bigger units.

Ultimately, I want the safe predicable approach, so in 5 years, I can have more options to live more independently. It seems apartment buildings are the end goal, but I may need a few years of smaller properties before I get there.

@James Wise Hi James, thanks for the list of turnkey markets to consider. It’ll certainly help!

@Joe Villeneuve My goal is $50,000 per year in passive rental income after the 5 years. Is this realistic?

Hi everyone, I’m putting together a five year plan of investing in rental properties for passive income and would love to get some feedback.

I live and own businesses overseas. I’ll be saving $4,100 per month, which is approximately $50,000 per year after taxes.

I don’t own any property, so I’m starting from scratch. Since I live overseas, I’m not interested in fix or flips. I’m focused on turnkey properties, either single family or small multi family.

So, let’s assume an investment rate of $50,000 per year, and all rental income goes right back into buying more properties.

What is a conservative plan with low maintenance rental properties each year and what income can I realistically achieve after five years?

I’ve been thinking it over for some time now and I want to put together a detailed plan to follow.

I would love to hear your plans and thoughts.

Thanks everyone!

Hi everyone, I’m putting together a five year plan of investing in rental properties for passive income and would love to get some feedback.

I live and own businesses overseas. I’ll be saving $4,100 per month, which is approximately $50,000 per year after taxes.

I don’t own any property, so I’m starting from scratch. Since I live overseas, I’m not interested in fix or flips. I’m focused on turnkey properties, either single family or small multi family.

So, let’s assume an investment rate of $50,000 per year, and all rental income goes right back into buying more properties.

What is a conservative plan with low maintenance rental properties each year and what income can I realistically achieve after five years?

I’ve been thinking it over for some time now and I want to put together a detailed plan to follow.

I would love to hear your plans and thoughts.

Thanks everyone!

 Mike, originally I had my hopes set on Oregon and Florida. But at the end of the day, this is investing and I shouldn’t be emotionally attached to any markets. Many posters are suggesting the Midwest and South, for my situation. I would love to hear your thoughts and experience about those areas.