All Forum Posts by: Fei Guo

Usually what I do it to list out amenities, and most importantly, commute options. How long does it take to go to closest big employer? (Boeing, Microsoft, UW, Children's Hospital, etc). Do some homework on Google Map and tell people how long does it take for them to go to work on a busy Monday morning. Are there any buses or transit center around? How far it that?

Then school district, neighborhood parks, bars and places to eat and hang out... Write the ad with these key words so when people search for "Amazon", your listing shows up :)

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@Kirill Chervets

That's great! I would love to join the meeting next time. And you are absolutely right, I am trying to get out of the war zone as well. How many bedrooms does each of your rental have? The rent actually looks slight low to me. ;)

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Hi Josh!

That's cool! I'm really close to Northgate! Who was your contact there?

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Hi Kirill,

Good for you! How did you find your rental properties? How much do you rent your rentals for?

Have you thought about doing some marketing in Russian communities? I went to a couple parties in Redmond and everyone is so friendly!

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Originally posted by F Chiang:

This is exactly the same question I needed to solve earlier this month. My cousin's brother in China wants to buy an investment property. Our answers and solutions came first from a good title officer and then later with the help of some Chinese community legal service in Chinatown. We're making offers on property right now and hopefully will be in contract within the next week or two.
My title officer told me that transferring money from China can be done using several solutions depending on the situation as China restrictions on the amount individuals transfer ($50k/yr). Businesses in China don't have such restrictions so going through one of them is one way. Another way would be to take the money to Hong Kong and transfer it as there are no restrictions in Hong Kong.

As for taxes and filing, we've applied for a social security number for the brother and will be filing the appropriate tax returns 1040NR (nonresident). This will also let them open a US bank/checking account to hold funds, write checks etc.

To make the signing of documents and closing easier we had a power attorney drawn up so my cousin can sign documents, open bank accounts and handle the property on behalf of his brother. The power of attorney needs to be notarized at the US embassy in China.

In anticipation of purchasing the property we're having the brother wire the funds into his US bank account first way before close of escrow so we don't have to do any last minute fretting about the funds.

My title officer was a great resource for answering these questions since she's had to close a number of transactions with foreign nationals. She says Vietnam was a nightmare (took her 6 months to close).

That was great information! I hope all went well and your relative now owns the property!

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My house loan is with Chase and I would love to hire a title/escrow company to help me transfer the property to my LLC.

Anyone know a good investor friendly escrow company in Greater Seattle area?

Thx!

Fei

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Hi everyone,

My name is Fei and I am in Seattle, WA. I was a Rich Dad refugee, but that 2-day class really motivated me and my business partner Brian to jump in to real estate!

What I bring: I am fluent in Mandarin Chinese and have many potential investors/buyers interested in Greater Seattle Area properties. Also, I have been working as a property manager's assistant for the past year. People are amazed by how many response I was able to get from my Craigslist listings, and how much rent I was able to get a lease signed!

Recently I just purchased my first house, and moved myself in with housemates in the house to pay my mortgage. It's been great!

I am interested in wholesale and investment opportunities within 25 miles of Seattle. My goal is to complete 3 wholesale deals and buy 1 rental house before the end of this year!

Does anyone go to REAPS or REIA meetings around here? Love to meet all of you!

Fei

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All Forum Posts by: Fei Guo

Fei Guo has started 4 posts and replied 27 times.

Post: Newbie from Seattle, WA!

Post: Newbie from Seattle, WA!

Post: Investor Friendly Title Company in Seattle

Post: Newbie from Seattle, WA!

Post: Transferring Funds from China?

Post: Investor Friendly Title Company in Seattle

Post: Newbie from Seattle, WA!