All Forum Posts by: Simen Gundersen

Also in the capital (Oslo) you need 40% DP for your second property. 

Hello. Just a question out of curiousity. Last night I watched Million Dollar Listing Los Angeles. On the show he said that he just rented his new construction luxury home for 45.000 USD a month for 2 years. Thats 1.080.000$ usd. 

Is it really this crazy in LA? and does anyone have any clue what the profit would be after expenses is paid on a rental like this?

thanks

And @Joe Villeneuve I see your point now. Thank you for making this clear to me.

Thank you all once again. I will follow your advice and look for better deals, and I will also open up the door of me potentially going the Ohio way vs Memphis again.

I will write here again in the future to keep you posted. 

Thank you all for your comments. It's extremely appreciated.

@Account Closed  i'll PM you the second I know what market i'll go into - thank you aswell)

Thanks for commenting @Chris T.. My issue is, it's not just this deal - it's every deal I look at due to the (not so good) financing that i'm qualifing for. Maybe I need more cash before I enter the US market. Thanks anyways for your input

Hi, i'm a non us resident looking to acquire a SFH in Memphis this year. It'll be with a Memphis turnkey company and purchase price is roughly $100,000. The turnkey company offers 50% financing via one of their lenders and I have been offered 10% interest, 3p and amortized over 15 years.

The numbers of a average deal they got is:

Rent: 925
Annual taxes: 847
Anual Insurance:  455
Property management (via the TK company): 10%

The property will be fully rehabbed, however, with the financing provided I am just not able to make any numbers work. When I account for 10% vacancy, 10% repairs and maintenance, 10% CapEx and the numbers above I end up losing money every month.

And I know I could argue that I don't need to account for capex/repairs and maintenance as it's completely rehabbed, but I have the understanding that the deal should cashflow anyways with that accounted for. In 10 years it's going to be as any regular house aswell and it needs to support that I feel like.

Any creative tips on how I could make a deal like this work? I am prepared to have to make a sizeable downpayment/pay higher rates, but i'm having a hard time making this work as of now....

Any help is appreciated, big thanks

@James Wachob PM'd you. 

@Douglas Skipworth huge thanks. Sent you a PM now

Hi everyone. I'm a non us resident and i'll have acquired my first SFH in the US by the end of the year.

As a non us citizen I have been able to get financing for 50% of purchase price at 10% interest, 3 points and 15 years amortization. This eats away almost all my profit however, so I am wondering how I would be able after I have closed on the property to refinance into better terms

Does anyone know what options I have to get my mortage costs down? 

It will be a turnkey property

Thank you so much

Areas i'm looking at: Ohio and Memphis