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All Forum Posts by: Zach Howard

Zach Howard has started 12 posts and replied 115 times.

Post: Financing options for non-US citizens

Zach HowardPosted
  • New to Real Estate
  • Hong Kong
  • Posts 123
  • Votes 42
Quote from @Elias Halvorson:

Hey Zach, 

Echoing what everyone said. You'll need 20-30% for a down payment. What areas of the states are you looking in? I highly recommend going with a LOCAL LENDER ie in the same state, and preferably from the same area of the state you are looking. 


 I'm not looking at any particular areas just yet. Currently still gathering lots of information so that I know what my options are once I'm ready. Still have a lot to learn and a lot to ask before I'll be ready to start though. 

Thanks so much for your advice for a local lender. Even though I can think of a few reasons why you would say that I'm curious to hear what your reasons are - please share. 

Post: Financing options for non-US citizens

Zach HowardPosted
  • New to Real Estate
  • Hong Kong
  • Posts 123
  • Votes 42
Quote from @Brandon Croucier:
Quote from @Zach Howard:
Quote from @Brandon Croucier:

Hi Zach,

There’s plenty of options to acquire realestate in the states.


Your income does not matter as much as your liquid capital for a down payment, for foreign investors we are looking at 30-35% down payment on DSCR loans.


 Just curious - what sort of down payment do you usually require of US citizens?


 20-25%


 I guess you have your reasons for the down payment discrepancy between citizens and non-citizens, haha, but it doesn't sit too well with me. I'll still consider it when I have a deal for which I need financing, though. How about the interest rate - is there also a different rate for citizens and non-citizens? 

Quote from @Jonathan Greene:

If you are looking at properties in the US only on Zillow, and not seeing them in person (I know you are in Hong Kong), this is just an effort in futility because you can't underwrite single-family or small multifamily deals only online. There are never full photos of the mechanicals and basement and roof line so you will never have even a bare inkling of what the potential repairs will be. A lot of people spend their time doing this, but it's not a good use of time because it can not teach you anything relevant without seeing each one in person. If you are vetting large-scale multifamily or commercial, you can do a bit more on spreadsheets, but still it would not be relevant without knowing the potential cap ex.


 By the way, thank you sincerely for your input. 

Point noted about not being able to underwrite without seeing things in person. I'm all about finding problems to solutions and figuring out how to make something work rather than simply conceding that it cannot work. So a question, haha, and forgive me if this sounds incredibly naive - how about getting a property manager or someone else with boots on the ground to do the underwriting by visiting in person etc. Any other ideas for how to solve this problem?

Quote from @Jonathan Greene:
Quote from @Zach Howard:
Quote from @Jonathan Greene:

If you are looking at properties in the US only on Zillow, and not seeing them in person (I know you are in Hong Kong), this is just an effort in futility because you can't underwrite single-family or small multifamily deals only online. There are never full photos of the mechanicals and basement and roof line so you will never have even a bare inkling of what the potential repairs will be. A lot of people spend their time doing this, but it's not a good use of time because it can not teach you anything relevant without seeing each one in person. If you are vetting large-scale multifamily or commercial, you can do a bit more on spreadsheets, but still it would not be relevant without knowing the potential cap ex.


 Ok, but I mean is it against the rules? Haha, I'm only asking, because 1) I can't seem to find anything saying it's not allowed and 2) A previous thread of mine was deleted for apparent violation of some rules. Don't want to have the same thing happen again. 


Links are kind of not allowed even though there is a spot for them in the post so some get removed.


 Great, I'll keep the links out of my posts then, and maybe tell others how to find the exact property in question. 

Quote from @Jonathan Greene:

If you are looking at properties in the US only on Zillow, and not seeing them in person (I know you are in Hong Kong), this is just an effort in futility because you can't underwrite single-family or small multifamily deals only online. There are never full photos of the mechanicals and basement and roof line so you will never have even a bare inkling of what the potential repairs will be. A lot of people spend their time doing this, but it's not a good use of time because it can not teach you anything relevant without seeing each one in person. If you are vetting large-scale multifamily or commercial, you can do a bit more on spreadsheets, but still it would not be relevant without knowing the potential cap ex.


 Ok, but I mean is it against the rules? Haha, I'm only asking, because 1) I can't seem to find anything saying it's not allowed and 2) A previous thread of mine was deleted for apparent violation of some rules. Don't want to have the same thing happen again. 

Are we allowed to post links to zillow or other websites here? For example, I think a good way for me to start in real estate is to learn everything I can about underwriting, then find 1-3 properties on which I think the numbers make sense and post them here for feedback from more experienced members. With these 3 theoretical deal analyses, hopefully ,I'll then be better equipped to jump into my first real deal. 

Are there any rules about this? Thanks. 

Post: Financing options for non-US citizens

Zach HowardPosted
  • New to Real Estate
  • Hong Kong
  • Posts 123
  • Votes 42
Quote from @Brandon Croucier:

Hi Zach,

There’s plenty of options to acquire realestate in the states.


Your income does not matter as much as your liquid capital for a down payment, for foreign investors we are looking at 30-35% down payment on DSCR loans.


 Just curious - what sort of down payment do you usually require of US citizens?

Post: Financing options for non-US citizens

Zach HowardPosted
  • New to Real Estate
  • Hong Kong
  • Posts 123
  • Votes 42
Quote from @Logan Lambert:
Quote from @Zach Howard:

Hi, I'm researching financing options for non-US citizens who wish to purchase multifamily investment properties - around 4 units to start with, for example. 

If you know of any lenders or if you are one of them, please feel free to reach out. I prefer public comments here before you send a direct message, though. 

I work outside of the US (Hong Kong), making slightly north of 100k per year, with scheduled salary bumps of approximately 4k per year. 

Thanks. 


 Hey Zach,

I work with a lot of non US citizens on the investment side. Would love to connect with you to see how I can help.

Ok, sounds great, will connect soon. Thanks. 

Post: Financing options for non-US citizens

Zach HowardPosted
  • New to Real Estate
  • Hong Kong
  • Posts 123
  • Votes 42
Quote from @Charles Carillo:

@Zach Howard

We have partners who are foreign investors. DM me, and I will send you contacts for attorneys, lenders, and accountants they have previously used. It is important that you hire professionals who have experience working with foreign investors.


 Thanks, I'll send you a DM soon. 

Post: Financing options for non-US citizens

Zach HowardPosted
  • New to Real Estate
  • Hong Kong
  • Posts 123
  • Votes 42

Hi, I'm researching financing options for non-US citizens who wish to purchase multifamily investment properties - around 4 units to start with, for example. 

If you know of any lenders or if you are one of them, please feel free to reach out. I prefer public comments here before you send a direct message, though. 

I work outside of the US (Hong Kong), making slightly north of 100k per year, with scheduled salary bumps of approximately 4k per year. 

Thanks.