All Forum Posts by: Suleman Aziz

Foreign Nationals welcome, if so what terms? 

Hi guys,

UK investor here, looking for mortgage lender that could get us a reasonable deal. As we don't have credit in US we are getting extremely high rates and requirements. So far best we've been offered is 25% down payment, min $75k mortgage at roughly 9% interest rate. We're happy with the down payment however need roughly a minimum of $50k mortgage and ideally a lower interest rate for it to be worth while. We could potentially get a work visa but not sure how long that would take and the viability of it. Any help would be much appreciated!

 I didn't think it would be an issue finding loans for under 100k until I came across this site! In the UK at least we wouldn't have this issue. I've messaged a few people on here hoping to find some connections so we will see. I'm open to any state where the demand is as I'm going to be overseas regardless and would be better to diversify in different areas anyway. Do you think I am missing anything based on those numbers above?

Yes should have specified a bit more but was hoping people with give some of their personal experience of net per door.

A quick example being a 4 bed home in Bessemer, AL
Purchase price around $70,000
25% Downpayment
With mortgage, property taxes and home insurance looking at $400
According to HUD I would be able to receive $1,494
I would of course not expect anywhere near that figure but how far would I be?
I'd expect to pay around 10% of rent for property management
This would leave me with just under $1k cashflow not accounting for repairs, vacancy etc.
What else am I missing? Utilities I'd hope to put for the tenant to pay for.
If I can ideally bring my numbers to around $4-500 net profit I could retire today so I definetely want to look in to it soon!
I've not factored in demand etc as this is just a quick example to see the viability of it for myself.

 Hi all,

I’m potentially an overseas investor looking to get in to section 8 housing and needed a rough estimate of what my net would be per door if going down the S8 route. As I’m not from the US I have zero experience however will be hiring a mentor to guide me if its viable.

Any help would be much appreciated, I've already been looking at HUD website to get an estimated FMR for various properties I've been interested in on Zillow.