All Forum Posts by: Warwick Ferguson

thanks for the replies everyone. Great insight into how things work here.

Luis, I'm a legal permanent resident and my wife is a us citizen. We're both signatories on the LLC

we are in the process now building the rating but have only been here for 2 months so it's going to take some time. 

So our best bet will be a portfolio lender? How would you go about it if you were in our situation? Buy rehab and hold a couple of properties and then approach a portfolio lender to do the refinance?

Thanks for the reply Ned. From my understanding not having credit rating yet, no lender would touch us on a personal level so looking into the LLC route to get everything going. Is this correct?

Hi BP.

My wife and I are new to the US from Australia so are just starting out credit rating adventure.

We're exploring options for 2 different strategies, BRRR or flip multiples and keep every other property to create a portfolio. We are very ambitious and would like to do this full time. I have completed a number of full house renovations and a plumber by trade.

We have 2 SFH rentals in Australia which are cash flowing and I'm in the process of selling our personal residence to help fund our future here.

We are leaning towards BRRR but ultimately comes down to what options are available to us when it comes to refinancing for a LLC to leverage into our goals. We have ~$200k usd cash available for initial purchasing and rehab costs. 

What are our options and or requirements for private lending/commercial loan/portfolio lender for either scenario?
Kind regards,
Warwick

Good question David anyone care to comment?

Thanks Brian, I thought this would have been the case. The coldest day time Temps we get at home in Canberra are about 40 and work still goes on. 

The renovations you mentioned plus external painting were what we were thinking. 

I'm sure life just goes on as normal am I right? Always different ways to sort things out

hey everyone. I have one question that the wife raised. What happens in the winter months in regards to renovations in Ohio and Minnesota?

We are liking the areas more and more but she has raised a very good question

This is what I'm looking at doing. I want to be as liquid as possible (not being able to leverage at this stage) to be able (hopefully) to start to buy and hold a number of properties.

I have been doing some scenarios, all with their pros and cons. Do 1 or 2 more expensive properties in the first year or 4-5 cheaper ones. This is also determined on where we settle which is hard to narrow down at this stage and if my brother in law wants to come in with us on some deals.

Im an ambitious person, with experience in property. Very knowledgeable and capable on the construction as well as the numbers side of things. Just a matter of finding out whats right for us given our restrictions not being able to leverage (through banks and lack of a credit score at this stage)

@Brian Pleshek We are open to anything, like i said all comes down to community. Do you have any suggestions for markets in Ohio it look into? 

We are researching places we would like to live first then looking at property markets to see in the investing will work in that area

Thanks for the tips @Brian Pleshek. We have a secured card at this stage and our phone plans, we bought a car cash about a month ago. We will get there but just a process.

A couple of other areas we have on a list to research are Oregon and Florida.