All Forum Posts by: Charles Carillo

@Avvy Morales

I am not sure why you would rent a house that was not safe. This is really the main concern here. If the house was safe during COVID, I would just switch them to month to month and deal with them leaving later this year.

I guess if you really ran out of options you could be the first landlord ever to contact your city and report your own property as being unsafe and they might condemn it. That might make the repairs more expansive but at least you would not be sued.

I would offer them cash for keys, for them to move out ASAP. Have them come up with the amount. I would also offer them money towards moving etc (they pay the moving company themselves, not you). Even if it costs you a few thousand to get them out; that would be eaten up in legal fees in one day.

@Sergio A.

This is a very subjective question and I imagine you will get answers all over the board. I do not think the amount of cash is your real goal (if you want to retire early). Your real goal is an amount of monthly cash flow (that adjusts with inflation) which will cover your monthly expenses. If you have to think that you will live to 100; over 60 years of retirement, there will be a lot inflation (an item purchase for $1 in 1960 would cost nearly $9 today). You also will not be able to access (without penalty) your Roth for the first 20 years.

To answer your question, estimate what your monthly expenses will be at 40 and construct a plan for reaching this monthly cash flow.

@Nat C.

There are a couple different lenders that will lend into the 6s for foreign nationals. Some lend on 30 year terms as well.

@Raphaël C.

You can reach out to me on the private message if you have questions. I do not publicly make specific referrals or recommendations.

@Ayyub Omer

The downfall I find with turnkey investments is that the value has already been created. An investor is compensated for the value that is added.

Secondly, yes there are a number of fees that you are covering when you buy and sell real estate. We are told as consumers that our house is a great investment because it historically increases in value but they forget the 12%-15% in fees that you need to pay during a normal purchase and sale process (agent fees on the buy and sell, county fees, attorneys, lenders, title etc.). A $100k house you just bought needs to increase to ~$110k just to break even.

Lastly, every investment fits a certain investor. Turn key is great for an investor that wants to own the property 100%; but does not have the time or contacts to perform a full renovation.

@Chris F.

I am always weary of review websites. You can never verify the truthfulness of what is being claimed. Amazon is a perfect example; products with 5 star reviews don't even matter anymore unless there has been over 500 or 1,000 votes since the consumer knows it is easy to manipulate. 

@Luis Garcia de Leon

So this is a 3 unit property? Can you pull comps of 3 unit properties in the area or duplexes and adjust for the additional unit? Are you sure this duplex is on the same parcel? If this is an odd property for the area you might not be able to get the most accurate comp. I would review the rents and the condition of the duplex prior to making any offer. Maybe also double check if FHA financing is available for it.

@Raphaël C.

I think the first step would be to speak to an accountant that works with foreign investors and start getting your entity and tax strategy setup. I would know what states you are interested in investing in and types of properties and capital you are planning on investing before doing this. At this point you can start building out the rest of your team. Realtors, lenders, managers etc. Use your initial team members for referrals for the rest of your team. Yes, there are lenders that work with international investors; but it depends on the states and the property types.

@Lev Brailovskiy

Yes, there are several lenders that lend to foreign investors as well as some banks. If the properties are larger they can utilize Fannie and Freddie that also lends to foreign investors. 

@Sergio A.

I do not invest through online platforms. I prefer to begin a relationship with the syndicator 1-on-1. You need to speak to them and interview them to make sure they fit your goals.