Overseas investor - Wanting to invest in memphis

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Overseas investor - Wanting to invest in memphis

Wesley H.
Investor · Auckland, Cockle Bay · Member since 2017 · 12 posts · 4 votes

Hi All!

Biggerpockets seems so great! love the podcasts too!

Currently based in New Zealand and am itching to buy property in USA/Memphis.

There's been an overload of info iv had to absorb ( taxes, realestate language, etc etc ).

I am at the point where iv taken off the training wheels and believe im ready to start investing.

Appreciate any help and hopefully i can repay the favor if you are interested in investing in New Zealand realestate!

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Hadar OrkibiPro Member
Rental Property Investor · USA / NZ · Member since 2016 · 1k+ posts · 812 votes
9y

@Wesley H., there are few lenders In the US that could lend to foreigner buyer like yourself, but you will probably need 30%-40% deposit. so you do need some cash to invest in the US. 

You can borrow from NZ line of credit or top up your NZ loans at lower rates and bring some money over. 

but make sure you are not over stretched. There is no point buying 1-2 houses in the US and that's it, as most likely they could cash-flow at say $2000-$3000 per year.  if you decide to invest in the US you need to think big!!

You want to make extra say 5o a year?? you need to buy say 15 -20 houses or few multi family. 

considering you are not in Memphis, you will most likely need to work with a Turn key company like @Curt Davis, Or  @Alex Craig . I have few happy friends that invested through them. they buy houses, renovate them to good standard, fined a tenant and can provide management too. 

Keep readying the forum to educate yourself about the options.

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  • Curt DavisBusiness Member
    Flipper/Rehabber · Memphis, TN · Member since 2008 · 5k+ posts · 2k+ votes
    9y

    There are several turnkey providers in Memphis you could reach out to or you could locate a realtor and try to do this on your own. Guessing your planning on all cash purchase unless you have some type of international financing in place. Make sure that if you purchase a home already fixed up the price range is above $70,000 . Good luck!! 

    Curt Davis - KAIZEN Realty538 Reviews
    WebsiteView Page
    0Reply
  • Wesley H.
    OP
    Investor · Auckland, Cockle Bay · Member since 2017 · 12 posts · 4 votes
    9y

    Hi Curt!

    thanks for reply to the post. Ok, you've raised more questions now haha.

    " home already fixed up the price range is above $70,000 " - what is the reason for this?

    I have some options in New Zealand to get funding but ideally would like to keep the portfolios separate in each country.

    Are there any recommended finance companies for overseas investors in USA ?

    Thanks,

    Wes

    0Reply
  • Caleb Heimsoth
    Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
    9y
    If it's under 70k it's probably not in a good location or wasn't rehabbed well.
    0Reply
  • Hadar OrkibiPro Member
    Rental Property Investor · USA / NZ · Member since 2016 · 1k+ posts · 812 votes
    9y

    @Wesley H., there are few lenders In the US that could lend to foreigner buyer like yourself, but you will probably need 30%-40% deposit. so you do need some cash to invest in the US. 

    You can borrow from NZ line of credit or top up your NZ loans at lower rates and bring some money over. 

    but make sure you are not over stretched. There is no point buying 1-2 houses in the US and that's it, as most likely they could cash-flow at say $2000-$3000 per year.  if you decide to invest in the US you need to think big!!

    You want to make extra say 5o a year?? you need to buy say 15 -20 houses or few multi family. 

    considering you are not in Memphis, you will most likely need to work with a Turn key company like @Curt Davis, Or  @Alex Craig . I have few happy friends that invested through them. they buy houses, renovate them to good standard, fined a tenant and can provide management too. 

    Keep readying the forum to educate yourself about the options.

    2Reply
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