Buying Cheap Investment Property in America as a Foreigner

Buying cheap old houses in America as an investment property can seem like a good idea for foreigners! I show you an example of a cheap old house that cost me $17,000 fully renovated in America as a foreigner, to generate a passive income and build up a property portfolio.
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00:00 The Opportunity with Cheap Old Houses
01:05 What I Bought in America As A Foreigner
03:35 The Terms of the Deal
04:14 Welcome to Memphis
05:27 Owner Finance Numbers on Deal
07:48 Property Taxes
08:32 Buying Remotely
11:58 Dealing With Tenants Overseas
#usainvesting #buytolet #propertyinvesting

[@Moiparici]

Wow, great content!!! I just subscribed to your channel! Just a few questions. - How did you find the broker? - How can any of us, who are not into real estate find a good and reliable one? Thanks for sharing Stephen 🤗🤗🤗

[@jujujonbitcoinisplanbcrypt9618]

Great content 👌👍thank you

[@StephenDuncombetv]

Thanks for that 😄

[@forgotmyname11]

Smart as you wouldnt be able to get a mortgage there or not high ltv anyway. 950 rent for a 35k home is insane yield though. Literally 10x of western europes big cities

[@StephenDuncombetv]

You’ll need 2 years of tax returns to qualify for a mortgage in the USA. That one was done with seller finance 50% down, which helped leverage my cash.

[@KM-pq7sr]

@@StephenDuncombetv Hi Stephen, just wondering, now you've probably got more than 2 years tax return history in the US, what sort of LTVs are you able to get from lenders on Residential purchases and also Commercial?

[@darrylcombe2469]

I call BS on that Memphis house in your video. Complete BS.

[@KM-pq7sr]

Thanks Stephen, really helpful stuff here. I'm a fellow Brit looking at investing overseas in the US. So i'm interested in setting up a Company in the US, but the problem seems to be getting a business address (In the US) for the Company with mail handling etc so I can see important business mail coming in. Any ideas about that? Do you know any firms who offer that service?

[@StephenDuncombetv]

I use my accountant address. But I think from memory if you use someone like legalzoom they may also offer an address. Look for virtual office services in Google if not. Property managers also will do it for you.

[@custardpie8101]

Do you have a US bank account? If not, do you use something such as WISE to manage movement of money from US to UK or vice versa?

[@StephenDuncombetv]

Yes I do. And use a transfer service ofx.

[@custardpie8101]

@@StephenDuncombetv How easy is it to gain a US bank account if owning US property but living abroad (UK)?

[@StephenDuncombetv]

@custardpie8101 super easy if you have an LLC and an ITIN.

[@ralucauk]

$34000 for a 4 bed house? 🤯 In London you can't even get a garage for that 😅

[@mhermovsisyan515]

What legal structure are you using to invest in the US?

[@StephenDuncombetv]

LLC

[@nothingheretowatch7371]

which state is that?

[@StephenDuncombetv]

I tell you in the video 😀