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New here - Any others actively investing in the USA
What I can't understand is the investors are on here stating what good returns they are gettting, so why then can't people afford their mortgagaes when rent is higher than the nmortgage reapyements? Surely it is these home owners who end up renting? Doesn't seem sustainable to me.
Once their credit is impaired it takes years to clean up. In the meantime they have to live somewhere. Most of us don't understand that having credit on the plasma, the car, the house and a dozen maxed out credit cards is unwise :-).
Donna, that is a great list you have posted relating to states that are expecting many foreclosures. I can’t say that it is really all that surprising though. I may have to look into some of the cities that have been mentioned in that article.
how do you finance a US property when you live in Aus or NZ???
Is it a US-based finance institution?
I live in Australia and I have been able to secure genuine bank finance for 2 of my US properties now. The first loan was a 30% down payment and a rate of 6.50% and the last one was likewise a 30% down payment but the rate had fallen to 5.75%. There are many banks that will lend to foreign nationals as a second home (this means you will live in it yourself and have the appropriate visa to live & work in the states) but I only know of 1 lender who will finance a foreign national investor who intends to lease the home out to tenants. I love being able to leverage and increases the return on your investment ROI significantly.
Dissindat Been a while since I visited this site. Since last time we have moved completely out of Atlanta just focusing on Charlotte.
Now back to your post your are 100 % correct at some point investors will be looked upon as helping. They will see the amount of people we do help find adequate housing. For section 8 yes again 100 % correct majority of these people are teaching their kids the same thing.
Greed is the number one killer in real estate for investors before an now.
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