All Forum Posts by: Yaron Avidan

@Jonathan Taylor

Hi Jonathan, great thread!

Are you familiar with financing options for foreign nationals?

I have a house in Texas and would like to do a cash out refinance. I find that many lenders won’t do it if it’s not your primary residence. But in any case, require a SSN which I don’t have.

The lenders that do work with foreign nationals offer about 6.5% for 30 years.

Any thought would be appreciated.

If I partner with a friend who is American and form an LLC, would that work and give access to more conventional lending options?

Thanks in advance

Thank you @Lee Yoder for your input and contact. I will reach out. 

Yaron

Hi BP people,

I'm looking for a new market for investment, I am a foreign investor. Looking for SFH's that will cashflow in decent neighborhoods, suburbs or towns near the city.

Since I don't know the area, any thoughts or recommendations for a team from other investors in the area or locals will be much appreciated. 

Thanks,

Yaron

Opening a US bank account isn't easy, but possible for foreigners.  You will need to be there in most cases, and even then, make sure you know the bank policy and be able to show it to the clerks there.

You can PM me and I will share my experience. 

@Jacob Lapp we have seen the stock market tank over the last couple of days, down 29% from its peak.

Since corona virus is expected to get worse in the US and Europe before things will get better, I think that the stock market will continue to drop fast, as people want to have cash or gold.

Economy will slow down significantly. Much of international air travel has already stopped, some countries already shut all foreign travel, events are cancelled, everything is slowing down. People are loosing their jobs, in some countries people are sent home on a leave without pay. So great uncertainty to their workplace and overall economy.

I have no doubt that many economies will shrink and that we will enter a depression.

It’s a good idea to have some cash and enter the stock market when things start to improve, we are not there yet. So just wait and educate in the meantime.

I am also pretty sure that real estate will be impacted once people start to lose their jobs, so some renters are at risk of not being able to pay rent when people will be instructed to stay at home for 3 weeks or if school system shuts down. What will those renters with young children do if there is no childcare available. Stay at home and have no money to pay.

General advice, save some cash and wait.

@Nick Pritt

I usually get an idea from Zillow and Trulia but always put a $50-80 lower amount in my analysis, to make sure it’s realistic and conservative.

If those are not available, look for property managers or agents that are active in that same area and ask them for their estimate. People who already rent out or manage properties in the same area, will know what you can expect and will give you a realistic figure, usually should be more accurate than Zillow.

If the house is isolated and in the middle of nowhere, I would avoid it.

Good luck.

@Bjorn Ahlblad thank you Bjorn, I will definitely check for way to get this insurance rate down.

@Kyle J. Many thanks for that Kyle.

@Matt R.thanks for the your useful information. I will look into the policy terms, deductibles etc.

Hi all,

I have one rental in the DFW area, TX.

The house is worth about 140K. The landlord insurance is $135 a month with Safeco. 

This year there was a pipe leak under the foundation which the insurance wouldn't cover.

In all the deal analysis I have seen, the insurance is always much cheaper.  What am I missing here, and am I paying too much?

Thanks in advance,

Yaron