Hi,

I am fairly new in this community and to the US market in general, not to real estate as such, and have read many previous discussions in the group with interest.
Being a non-US-resident, my main business is in Europe (UK, Spain, Sweden) and got into the US market “by accident”.

The situation is that I got a small rental in Detroit as collateral for money I lent a business contact (who defaulted on it). Now, this house is managed through a system where I do not have “direct control”. The reason is that my business contact (who is not in real estate) bought it as an investment through a company that helps you with sourcing and management.

Now, in the case of rentals, I normally do BRRRR, but even though this house is profitable, the value is around $35-40 000 and not worth trying to break out of the current set up.

However, I would like to explore the possibility of the US-market and have the following questions:
1. Would it be possible to take out a mortgage on the house described above, or is it too low of a value (In the UK or example it is normally not possible to get a good mortgage on such a “low value” house) and for me as a Non-US-resident – in a reasonable way?
2. Would it be possible for me as a Non-US-resident to do BRRRR in a profitable way? I guess I would need to find a partner of some sort for management etc.?
3. Do the collective experience and intelligence of this community have any creative suggestions or alternatives to suggest?

Looking forward to continued interesting discussions.