All Forum Posts by: Chauncey Glenn

@Chad Houston There is no strategy. Just questions. Could you provide an answer to any of them?

That’d be most helpful. 

@Alex Kim Thanks for this. I will surely send you both a request and message Alex. 

@Account Closed Hello Mike. Thanks for your insight as I wasn’t aware of the owner financing option. I’d be interested in your experience. 

Answering your question: I am considering both options yet analyzing which scenario would be better for me financially. 

There are many disadvantages of house hacking and relocating. There are many things I don’t know about managing property from abroad.   

1. Have you never taken the Power of Attorney route? It seems you haven’t dealt with a U.S. citizen working abroad. 

We should however, exchange emails.

@Daniel Schmitz thank you Daniel. This is helpful. 

Hey guys!

Chauncey here. I am feeling incredibly overwhelmed as I dive into the possibilities of real estate. 

About Me:

I am a U.S. citizen, living and working abroad in South Korea. 

Question:

1. How can I go about purchasing property in the U.S. from abroad and with a foreign income? 

I’ve been speaking with lenders and mortgage brokers. I was told that I’d be able to grant someone with Power of Attorney. 

2. Does anyone have experience purchasing a home from abraod, and or purchasing a home by granting someone with power of attorney?

3. What type of professional can I reach out to about this?

Thank you all so much.

Hello Invester Friends,

I am living abroad in South Korea. I have two options and questions: 

1. Upon completion of my teaching contract, I’d like to return to the U.S. to purchase a small multi family home in Buffalo or Atlanta. 

How would I go about public (bank) financing with out having an immediate job? I do have U.S. working history, a college degree, on par credit and some savings.

2. I’d like to purchase a home in the U.S. while still living and working abroad, granting a parent, with Power of Attorney. 

Could I use my foreign income to purchase a home in the U.S. if I gave someone Power of Attorney?

Thanks,

Chauncey

@Alex Pinkney 

Hi Alex, as a millennial, I have! It'd just be a matter of budgeting for an extra expense and confirming if carpooling or ride sharing services operate in my areas of interest (Atlanta or Buffalo) as you've mentioned. 

I do  think it is a better option with ride sharing services becoming seemingly more flexible and affordable offering weekly and monthly deals as you've also mentioned. Thanks for your insight, it is greatly appreciated. 

@Matthew Irish-Jones thanks. 

@Matthew Irish-Jones Yes, sure. I can imagine this and it is a viable means of managing property. 

My only concern with managing property from abroad is financing. My income is foreign though I am a U.S. citizen. So, while there are many means of overseeing and purchasing property remotely, getting a loan may be difficult. 

Could you refer me to someone with experience in this area?

Things are interesting certainly and in my case, with more answers, comes more questions. Yes, if I return to the States to house hack, I will need to find employment which in turn slows down the financing process (due to lack of work history in that City). All in all, I can heed to your advice of finding a vehicle that isn't so expensive when/if a car is in my near future. 

Then, do you know if going with a lease option agreement, would still qualify me for a FHA loan?

What is prompting your move back to Florida, if you don't mind my asking...?