All Forum Posts by: Charles Carillo

@Kasia Harmata

I highly suggest you reach out to all local banks and credit unions near the property. A property of this size is what these institutions focus on and the closer they are located to property, the better. They will most likley be keeping your property on their books so you are usually able to negotiate most terms.

@Cody Shearer

My partner has used a lender before that focuses on foreign investors but the down payment is usually 20%-30%. DM and I will send you their information.

@Tam Pham

"California is a very tenant-friendly state. It was one of the first states in the country to enact statewide rent control laws."

https://www.nolo.com/legal-enc...

@Hiba Sabir

There are a number of paths you can take to become a U.S real estate investor. The funds you mentioned should be ample enough for you to begin but first you should start building your team here. I would suggest working with a CPA, attorney and lender that work regularly with foreign investors; DM me if you need any contacts. Once you have this in place; you can start sourcing properties from brokers.

@Scott R.

I highly suggest you speak to your real estate attorney. They will review your current loans and advise. Changing your insurance is probably the easiest part of this whole process so I would not be too worried about that. Your insurance agent might be able to write the business owner policy for you.

A perfect example of why you should have ample reserves when investing into real estate.

@Kevin Huang

Reach out to your real estate attorney; they might have a boilerplate lease termination document you can use. If they need to draft one, you are now able to use this with future tenants as well.

@Lupas Dinu

Financing down payments is getting into the mezzanine financing arena and is usually not accepted by most senior debt lenders since they do not want to deal with another lender if the deal goes south. This is most likley not a viable option for an investor just starting out or dealing with smaller properties. Maybe bring in a partner with the down payment? Lastly, the down payment is only one portion of purchasing real estate. You need to have money for renovations and an ample reserve.

@John Barker

Yes, you are going utilize the same due diligence you would when evaluating a 100% investment property but there are a few things you need to take into account. What unit are you moving into? Is that unit vacant? If not, how are you getting them out? Do you want to keep all tenants? What is your portion of the monthly expenses if you have rented out the other units? In the future when you move out, what would be your cashflow if you rented all the units out?

@Phil Sherman-Bender

You can go to your local city or county website and pull a list of properties that fit your criteria. You are then able to skip trace the LLCs to find the ultimate owners (landlords).