All Forum Posts by: Tess L.

I'm surprised you have heard negative things about Mercury Bank, I haven't had any troubles with them. Even my accountant moved his business banking to them last year. 

Global Jay looks like a helpful service, but it isn't a bank itself, and it isn't clear which bank/s they work with. One of the things I like about Mercury is that is allows me to do absolutely everything online, including depositing scanned cheques. That makes it so much easier than most other banks that want to resolve problems by visiting a branch.

They're not really the same. The registered agent will only send you notices when you have to renew your company registration, or the state authorities need you, or I guess if someone is suing you. Important stuff. However, they don't want your utility bills or insurance notices going there. The post box service I use scans my mail and sends me an email notification. That might be 20 different documents per month. Once I've checked it, I can choose if I would like them to shred it or they can courier important documents like Deeds to my overseas address. Also, I need a registered agent in each state where I have an LLC, but I only need one PO location so all mail goes to the same place.

Hi Pablo, glad you liked the post :) I meant 'LLC' when I used the word 'company'.

@Yousef: the Amex credit card was in my personal name (to build my personal credit) and the Mercury Bank accounts/debit cards are in the name of my business.

@Caleb: things are going well so far, but it's a mixed bag. I have one house doing great in Dayton OH. My Detroit house has been hit with a couple of massive unexpected bills ($6K and $9K) for lead water pipe replacement, so I'm never investing there again! I'm selling my two IL houses (one is under contract) which was always the plan. I wanted to convert my Windsor NY house into a duplex which would have been really fantastic for revenue, but the council refused zoning. That was disappointing because no external changes were required to the house. I had a great renovation planned for my Poplar Bluff, MO house, with financing lined up, but it fell apart because we couldn't find a good, available contractor after several months. 

So overall, getting into real estate has been a fun, frustrating but hopefully worthwhile pursuit. I haven't made great financial progress this last year. However, I now have everything in place, I've got a lot more practical experience and contacts, and haven't lost money. So hopefully onwards and upwards!

Hi Matt, 

That's correct, I didn't have to move to or visit US to get the credit card. In my case, when I got the Nova credit report it gave me a link to apply for an Amex card and I completed based on my overseas income.

Cheers, Tess

Hi Everyone,

Just made my first two vision boards! Thought I'd share with the community, and see if anyone else wanted to post their creations also. Looking for future inspiration!

Tess

@Youcef Azoug - it's about $80 each time to FedEx them, but I get them to save up a few letters to send all at once. It's not ideal but it's really only the original title deeds and title insurance that I get sent over. Also bank cards and IRS letters.

@Jennifer S. - I haven't taken out loans yet. I wanted to build a track record first and get some experience before reaching out for finance. I'm in touch with a few lenders now though, so hopefully I'll have some options soon.

Hi All! 

I just did a detailed post about getting set up to invest remotely in US as a foreign national, may be helpful for someone: https://www.biggerpockets.com/...

Hi Bert, 

Glad you liked the post! No, I have formed my own US companies, that I own, and use them to buy properties and open bank accounts. That way, my liability is limited to the assets of each company, not to my own personal assets.

I don't receive help from another US company except the ones mentioned providing some supporting services.

Cheers, Tess