Interested in finding out if any BP members deal with this

[Jacquelyn Ceasor]

Hi All,

I have heard about foreign investors, investing in real estate here in the states.

Does anyone have any experience with this?

Thank you,

Jackie

[Chris Mason]

My experience with truly foreign investors is...

• I give them the giant list of paperwork we'd need to get them a mortgage without being a US person.
• They balk and I never hear from them again.

*shrug*

By contrast folks actually residing here, that are here lawfully...

1. Teach them how to hack FICO, they do exactly what they are told.
2. Teach them to season funds, they do exactly what they are told.
3. Teach them (or their CPA rather) what stuff we look for on Schedule E, make sure the rent and fair rental days are accurate, get aggressive with depreciation so no one is paying extra taxes for no reason, et cetera. 
4. Every three or six months there's magically a seasoned 25% down plus needed PITI reserves, ready for the next purchase, sitting in a plain old boring Wells Fargo checking account without a lot of activity on those two months of bank statements I ask for.
5. They write offers that end in 888, or want me to tweak their loan amount down so the base loan amount is $XXX,888. I do it automatically now, preapprovals and loan amounts, or anything else possible really, with lots of the number 8 three times in a row. 
6. All they want to know is what I need from them to fund reliably and on time.
7. Loan funds, they get the property.
8. They go quiet on me. 
9. X months pass, they call, and look at that! Another seasoned 25% down plus PITI reserves. Such thrifty savers. 
10. Properties are always cash flow positive and foreigners aren't as addicted to pointless consumer debt as Americans, so they don't really need a lot of qualifying income from a day job... or in theory any day job.
11. 10/10 would recommend as clients.