Sure. I'd love to invest in USA. How can I go about it?I'm obviously not @Envision but my advice would be:
Invest somewhere other than India.
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Free registration at the forum removes this block.Sure. I'd love to invest in USA. How can I go about it?I'm obviously not @Envision but my advice would be:
Invest somewhere other than India.
I'm not sure I understand the question.Sure. I'd love to invest in USA. How can I go about it?
Would american banks be willing to lend me the money considering that I am a foreigner? Would I have any issues with this?I'm not sure I understand the question.
Find a property that fits your criteria, and make an offer on it. Even easier if it's already for sale.
I'm not aware of any restriction for a non-US person to own real estate in the US, but I'm always open to being corrected.
I would guess you need to bring your own financing from wherever you can get it.Would american banks be willing to lend me the money considering that I am a foreigner? Would I have any issues with this?
That's the issue. If I can't get loans in the US, then I MAY again have to deal with negative cash flow because the interest rates on home loans here are way too high. The only option then would be to pay 100% cash which is a tough task. I need to research more into this, I guess.I would guess you need to bring your own financing from wherever you can get it.
However, I do not speak for the banks. A couple phone calls would help you.
The seller would accept the cash no matter the source, so you would just need to figure out if you can get financing in the US or if you need to get it in your home country.
there is a thread by @GlobalWealth which guides international Real estate investing.I'm obviously not @Envision but my advice would be:
Invest somewhere other than India.
True. I never understood why prices of properties in India are so high compared to other countries. Everything related to real estate here just seems so speculative.there is a thread by @GlobalWealth which guides international Real estate investing.
but it's too much dependent on tourism industries and Airbnb.
also getting a loan in a foreign country is troublesome.
I understand buddy, but this is not the thread for this.That's the issue. If I can't get loans in the US, then I MAY again have to deal with negative cash flow because the interest rates on home loans here are way too high. The only option then would be to pay 100% cash which is a tough task. I need to research more into this, I guess.
I guess Index funds are the best bet for us at the moment until the prices correctI understand buddy, but this is not the thread for this.
you will need around 100-80% money upfront for your first investment as you don't have a credit score in that country, and I doubt it's good in India as well as we generally deal with cash.
Hi man, I really appreciate you sharing your jorney with us, keep going cause you're doing great!Current Situation:
Currently, I work a full time job (VP of Operations of a real estate holdings company), run my e-commerce business, attend school full time (just 1 year left), and invest in real estate when I have the opportunity to. I would like real estate to become the bulk of my income as it has many benefits with the major one being secure form of income.
Current Properties:
I purchased my first property when I was 20 by house hacking it. I lived for free, paid down the mortage, and purchase my second property when I was 22 and house hacked another larger duplex (i've spoken on these at the summit). If you're interested in househacking check out @G_Alexander thread here it's jam packed with good info.
1. I met the owner at a real estate meet up and built a relationship with him. Today we're business partners in multiple companies. He owns $250MM of real estate.Hi man, I really appreciate you sharing your jorney with us, keep going cause you're doing great!
I have a few questions if you don't mind:
1) how did you become VP of a holding company if you were really young? I presume you were something like 19 or 20 right?
2) How did you afford your first property, I mean you had some money or did you earn it in some ways? If the latter one, how much did you earn to buy that property and how you did it?
3) How much did you pay for those two properties, because I would like to understand how much was your expense. Unfortunately things are really different in Italy which is where I live and I'd like to understand if I can tak your process and actions as an ispiration or if this process cannot be repeated in Italy.
I'm sorry to bother you but since I'm not an English native speaker I have few problems time to time: what do you mean by saying that you needed 3.5% to buy the property? So in order to buy a property that has a value of 155k you only paid 6.5k at the beginning and the others 149k were mortgage?2. I was making $14/hr working at a call center and had $6k saved up from that job. I offered on a duplex that cost $155k. I needed 3.5% down to buy the property and I repaired the property on credit. I had two jobs working through the rehab on that property - it allowed me to live for free and today is worth $450k.
Yeah, that’s correct. The government in the us has a first time home buyers program that allows people to use loans that put very little down.Thanks for the answer man, you really give us details and I appreciate this a lot!
I'm sorry to bother you but since I'm not an English native speaker I have few problems time to time: what do you mean by saying that you needed 3.5% to buy the property? So in order to buy a property that has a value of 155k you only paid 6.5k at the beginning and the others 149k were mortgage?
I am not sure I understood what you meant but I hope what I said is right.
In Italy if you want to buy a property you need to pay 20% or 30% of the value, because banks will not give you money for the entire value of the property but only 70% or, best case scenario, 80% if you are really convincing in your financial position.Yeah, that’s correct. The government in the us has a first time home buyers program that allows people to use loans that put very little down.
there’s added insurance that the government charges for this called PMI so my payment t was higher but eventually I just refinanced out of those into conventional loans. I don’t know what that looks like in your country but if there’s people that own real estate I am sure it’s possible for you too.
You're damn inspiring mate.Its cool documenting these things. A year later, all these were accomplished + more and I don't work my job anymore.
Update:
Finalizing details on building a 30k sq ft office/warehouse/distribution center. We'd lease for 2 years and purchase at the 24 month mark - its going to be more expensive than going the other route I was trying to go but this is a long term play, its on a main road in one of the fastest growing cities in the country and I think over the next 10 years the value will far our pace what I pay today.
Im getting first right of refusal on the lot next to it for a future 20k sq ft building and Im working on getting the existing 10k sq ft warehouse in the same lot under contract as an investment property.
My company is on track to do 8 figures this year (this was a goal three years from now). The amount of growth we've seen is unreal and its not slowing down and we're just continuing to work our process day in and day out, 13 employees, we're working on multiple new product lines, improving systems, and i think a CFO is probably the next big hire I need to start to think about.
Plans on the storage facility are still being worked on, its a huge project and there are alot of difficulties when it comes to getting hard bids which has delayed things. Potential for it to be a 1200 unit facility. Hopefully we can start construction within the next 3 months.
I totally agree. I too have a whole string of successes and failures over the years. I've made money and lost money again and again. Some losses were huge and some were completely manageable. I guess I just don't know how to quit the overall program. But, I've walked away from situations and failed decisions on a regular basis. I'm always taking risks. I just try to make sure that the odds are in my favor and the upside is worth that risk.@Genius01
It's impossible to avoid mistakes and failure, its better to observe, learn, implement, fail, adjust and repeat that process.
To give you context, I blew 25k on an order deposit that didnt work 2 weeks ago, I lost out on 3 warehouses over the last year, I lost 60k on product that arrived damaged from shipping. I have massively delayed shipments that are costing me thousands of dollars each month, I didnt have workmans comp for a long time and just fixed that... I could go on. I mess up so much I just move from failure to failure without it impacting my overall vision. I dont post about my failures but dont think they dont happen.
I do the same thing, I have tons of tabs and I deep dive subjects im interested in. Ill read books, listen to podcasts, breakdown articles, ask people and then I pull all of the information that I believe is the best and make my decisions off of that.
Business, once you understand it is quite simple. People just like to make it hard.
Im fortunate to have surrounded myself with really smart people and that drives progression, I think I have a higher tolerance for risk and acceptance of those failures than most people so I am making big leaps because most people would not make the decisions I would make.
But in my mind I don't have anything to lose.
@Genius01
It's impossible to avoid mistakes and failure, its better to observe, learn, implement, fail, adjust and repeat that process.
To give you context, I blew 25k on an order deposit that didnt work 2 weeks ago, I lost out on 3 warehouses over the last year, I lost 60k on product that arrived damaged from shipping. I have massively delayed shipments that are costing me thousands of dollars each month, I didnt have workmans comp for a long time and just fixed that... I could go on. I mess up so much I just move from failure to failure without it impacting my overall vision. I dont post about my failures but dont think they dont happen.
I do the same thing, I have tons of tabs and I deep dive subjects im interested in. Ill read books, listen to podcasts, breakdown articles, ask people and then I pull all of the information that I believe is the best and make my decisions off of that.
Business, once you understand it is quite simple. People just like to make it hard.
Im fortunate to have surrounded myself with really smart people and that drives progression, I think I have a higher tolerance for risk and acceptance of those failures than most people so I am making big leaps because most people would not make the decisions I would make.
But in my mind I don't have anything to lose.
I do the same thing, I have tons of tabs and I deep dive subjects im interested in. Ill read books, listen to podcasts, breakdown articles, ask people and then I pull all of the information that I believe is the best and make my decisions off of that.
We're moving along with the PSA and contract on the land and I've mocked up a 30-40k sq ft warehouse on it. The SBA has approved my ability for the loan and now we're working through contracts, timelines..
As you can see in the image I'm trying to design the building as if I needed to rent it out so I could multi tenant it and diversify the risk if I were to not occupy the whole building. Currently we're working on making the building larger to take more advantage of the full lot size without losing the turning radius for the trucks.
On another note, I've been thinking of opening up some form of mentoring to one or two people in a group or one on one. I was talking with my sister yesterday and I've come to realize that the progression and growth is really what motivates and inspires me more so than money or material things and a lot of the times (especially weekends) more so recently I can get bored with other aspects of life. Not interested in partying, drinking or whatever "normal" people do, but I do want to connect with like minded people...
So with that being said if anyone is interested in 1 on 1 mentoring dm me if you fit the following criteria:
- Company with 250k Revenue Minimum
- Ecommerce or Real Estate Investment focused
- Wanting to grow/ Willing to do the work
(If you do not fit all 3, do not apply)
Please note this is not:
-Babysitting
-Me doing the work
- 24/7 access
This is targeted and focused weekly calls to grow your company, challenge existing through processes, and actually scale your life. There will be a fee for the duration of time and most likely weekly/biweekly calls that cannot be missed. It'll probably run for a minimum of 3 months and more so 6-12 to see tangible results. Ill vet you and if @MJ DeMarco needs to review anything before hand please let me know in order for me to do so with this community.
The warehouse looks great!We're moving along with the PSA and contract on the land and I've mocked up a 30-40k sq ft warehouse on it. The SBA has approved my ability for the loan and now we're working through contracts, timelines..
As you can see in the image I'm trying to design the building as if I needed to rent it out so I could multi tenant it and diversify the risk if I were to not occupy the whole building. Currently we're working on making the building larger to take more advantage of the full lot size without losing the turning radius for the trucks.
On another note, I've been thinking of opening up some form of mentoring to one or two people in a group or one on one. I was talking with my sister yesterday and I've come to realize that the progression and growth is really what motivates and inspires me more so than money or material things and a lot of the times (especially weekends) more so recently I can get bored with other aspects of life. Not interested in partying, drinking or whatever "normal" people do, but I do want to connect with like minded people...
So with that being said if anyone is interested in 1 on 1 mentoring dm me if you fit the following criteria:
- Company with 250k Revenue Minimum
- Ecommerce or Real Estate Investment focused
- Wanting to grow/ Willing to do the work
(If you do not fit all 3, do not apply)
Please note this is not:
-Babysitting
-Me doing the work
- 24/7 access
This is targeted and focused weekly calls to grow your company, challenge existing through processes, and actually scale your life. There will be a fee for the duration of time and most likely weekly/biweekly calls that cannot be missed. It'll probably run for a minimum of 3 months and more so 6-12 to see tangible results. Ill vet you and if @MJ DeMarco needs to review anything before hand please let me know in order for me to do so with this community.
Did you draw that in AutoCAD? Very nicely done.We're moving along with the PSA and contract on the land and I've mocked up a 30-40k sq ft warehouse on it. The SBA has approved my ability for the loan and now we're working through contracts, timelines..
As you can see in the image I'm trying to design the building as if I needed to rent it out so I could multi tenant it and diversify the risk if I were to not occupy the whole building. Currently we're working on making the building larger to take more advantage of the full lot size without losing the turning radius for the trucks.
On another note, I've been thinking of opening up some form of mentoring to one or two people in a group or one on one. I was talking with my sister yesterday and I've come to realize that the progression and growth is really what motivates and inspires me more so than money or material things and a lot of the times (especially weekends) more so recently I can get bored with other aspects of life. Not interested in partying, drinking or whatever "normal" people do, but I do want to connect with like minded people...
So with that being said if anyone is interested in 1 on 1 mentoring dm me if you fit the following criteria:
- Company with 250k Revenue Minimum
- Ecommerce or Real Estate Investment focused
- Wanting to grow/ Willing to do the work
(If you do not fit all 3, do not apply)
Please note this is not:
-Babysitting
-Me doing the work
- 24/7 access
This is targeted and focused weekly calls to grow your company, challenge existing through processes, and actually scale your life. There will be a fee for the duration of time and most likely weekly/biweekly calls that cannot be missed. It'll probably run for a minimum of 3 months and more so 6-12 to see tangible results. Ill vet you and if @MJ DeMarco needs to review anything before hand please let me know in order for me to do so with this community.
Did you draw that in AutoCAD? Very nicely done.
What are those things on the bottom left and top left they look like offset double doors on the drawing.I made it sound like I drew it but it was drawn by my architect lol - yes in autocad
Here's the revised version to make more utilization of the land. We found we can pave over the easement above to use as truck court so we can extend the building up and make accesses on both ends.
Enclosed Dumpster storage - the city most likely requires itWhat are those things on the bottom left and top left they look like offset double doors on the drawing.
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