All Forum Posts by: Kit E.
Kit E. has started 10 posts and replied 24 times.
Post: Is NOLA worth the investment going into 2024?
- Farmington, UT
- Posts 24
- Votes 5
Using a VA loan usually got me a half percent lower than on my loan that most people I know. Why not look for a duplex/triplex/fourplex to house hack with the VA Loan? If the VA loan has a funding fee if you don't have the full 20 percent it gets you out of PMI. My larger home has/had a lower monthly cost with the VA loan than friends who did the FHA loan every single time.
Post: International Real Estate
- Farmington, UT
- Posts 24
- Votes 5
@Mike Lambert Thanks for your opinion, it's always good to hear from self-appointed experts.
Post: Overseas Real Estate Investors?
- Farmington, UT
- Posts 24
- Votes 5
@Mike Lambert The deal is that most HELOC's will get a better rate than overseas mortgages. Not many locations overseas want to give foreigners home loans. If they do they it might cover 65% of the loan not 80% like here. Many of the things we take for granted in the US just don't exist for real estate investing overseas. The one disadvantage of using a HELOC is FX risk but that is dependant on your income sources also.
Post: Marketing Overseas Properties
- Farmington, UT
- Posts 24
- Votes 5
Originally posted by @Daniel Forero Pineda:
@Benjamin A Ersing Hey thanks for answering! I’m looking to target to Colombian buyers.
What sites are you advertising on? I would check metroquadrado.com or mercadolibre.com
Post: Getting financing for international investment
- Farmington, UT
- Posts 24
- Votes 5
Originally posted by @Benjamin A Ersing:
@Kwame Knights your best bet would be a HELOC or cash out refi on a US asset, and then transfer the money to Guyana for the project.
This is what I would advise also.
Post: International Real Estate
- Farmington, UT
- Posts 24
- Votes 5
Hey all I have been following the Nomad Capitialist on youtube: Not all of his advice is good for every net worth individual. Still plenty of ideas to think about. https://www.youtube.com/user/n...
Post: Overseas Real Estate Investors?
- Farmington, UT
- Posts 24
- Votes 5
@Joshua Biggins People forget to mention you can use a HELOC on an overseas home purchase. I have been watching expat videos on Portugal and it looks affordable anywhere but Porto or Lisbon.
Also if you are a military or GS employee you can transfer your TSP to self-directed IRA and rent out the property.
Post: Looking to invest in SFH in Colombia/Lexington SC
- Farmington, UT
- Posts 24
- Votes 5
Where can I get a listing of what property tax is for non owner occupied? Non owner occupied puts it at 2.9 percent for what you mentioned.
Post: Looking to invest in SFH in Colombia/Lexington SC
- Farmington, UT
- Posts 24
- Votes 5
Originally posted by @Chris DeTreville:
@Kit E. I have an off market deal that might interest you. In Columbia city limits, $895 current rent and purchase price could probably be around $80k.
A general piece of advice; watch out for our property taxes. Our non owner occupant rate is super high. So if you buy a property for $130k and only get $1100-1200 in rent you will not cash flow. I usually look at a property further only if it beats the 1% rule.
(Tax estimate for a non owner occupant house valued at 130k would be roughly $3,800/year)