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Post by aerternum8 on Mar 26, 2014 18:03:11 GMT
I'm interested in real estate as an investment vehicle. I'm wondering if anyone knows if it is possible for a US citizen like myself to take out a mortgage in the US for house while he lives here. I'd like to keep it and rent it out.
Thoughts? Advice?
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Post by UmmRiyam on Mar 27, 2014 11:25:12 GMT
I don't know about the bank loan part, but we bought a house in the US from Saudi Arabia. We had to do a lot of printing and signing and scanning and emailing everything back.
I wouldn't feel comfortable buying a house without someone I trust to see it and inspect it. We had my father do that for us, and we trusted his opinion, and he was the one who was there to take the keys from the realtor. So, if you don't have someone who knows a lot about houses to help you make the decision, then you may want to wait and decide on a house when you're on your repat.
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Post by aerternum8 on Mar 27, 2014 13:14:27 GMT
Thanks for the reply Umm.
I think we would see the house on a repat as you said, but I don't think I'd be able to close during that time. The loan process is the challenge. Would they accept that I work for a company abroad to underwrite a loan? That's the key question.
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Post by vpainter on Mar 29, 2014 6:39:27 GMT
Yes, they will. We have bought 3 and sold one while being here.
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Post by aerternum8 on Apr 13, 2014 18:02:41 GMT
That's good to know, vpainter. If you care to share, are there any particular mortgage lenders that you might recommend? Also, did you buy any of those properties after the 2011 housing bubble? PM me if you feel you'd rather write privately.
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Post by vpainter on Apr 21, 2014 22:33:31 GMT
We used a mortgage broker in our area of TX. So each one is with a different lender. Last one had to be Fannie Mae but taken care of by Wells Fargo.
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Post by aerternum8 on Apr 22, 2014 18:08:39 GMT
Sounds good. I hope to invest some more in US real estate. Thanks, vpainter!
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Deleted
Deleted Member
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Post by Deleted on Sept 25, 2020 20:04:34 GMT
It's really profitable to buy real estate there
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Post by emmanorv on Jan 14, 2021 23:15:41 GMT
This is not a big problem. I was born in Germany and I lived in an industrial city, Stuttgart if you know, this is the city where Porsche was created and has its main factory. I always wanted to move to the USA and have a quiet place to live on the coast of the sea. I had an amount of money before moving and I started to search. I wanted to live in a condominium because I think it is great. I easily bought it being in Germany and when I moved to America I already had my own apartment. I can't believe that I fulfilled my dreams.
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