How do I invest in U.S property without traveling there?
The house-buying experience is often synonymous with physically travelling to the location and exploring every aspect of the house in person. The very idea of investing in property that you’ve never seen physically is unusual – for some people. The “old” way of investing in Real Estate is becoming synonymous with the “old” way of buying socks in a store and not online. With the right partners in place – Mortgage Broker, Realtor, Property Manager, buying a property outside of the city, state, or country where you live is not only possible, it is almost as common as buying “socks” online these days.
Let’s first dispel the notion that the best property to invest in are those that are in the same country code as you. Location absolutely matters, but not in the traditional sense. Global real estate investors in the ‘know’ will tell you the most important factors are asset location and yield – their own proximity to their investment shouldn’t be a factor. Another thing they’ll probably tell you would be that the U.S is by far the best place to invest right now.
Why the U.S?
For one, it’s extremely easy – anyone can buy and own property in the U.S, regardless of citizenship. There are no restrictions (or stamp duties/extra costs) that prevent an individual of foreign citizenship from owning or buying a home in the U.S.
For another, the International Investor Survey done by AFIRE (Association of Foreign Investors in Real Estate) found that the U.S. continues to lead the world in terms of offering the best opportunity for capital appreciation. The same survey also found that 58% of respondents felt that the U.S is the most stable for real estate investment. Moreover, mortgage rates are expected to stay low for some time, resulting in the ability to secure cheap loans and fuelling demand for property within the U.S.
Can I do it?
The answer to this question would be quite different if it was 20 years ago when the ability to build a portfolio in markets beyond where you live was something you could do only if you were extremely wealthy. However, what seemed impossible is easily achieved these days, thanks to the Internet making the world a much, much smaller place. The key to success here is trust in the right partners.
It is essential that you find people you can trust throughout the process – look for licensed realtors and property managers with local expertise in the markets you find the most appealing. Whenever possible, ask associates for referrals, do website searches, find locals in real estate directories and check references. If you do decide to opt for financing, it’s all the more important you find experts who understand the situation and have experience with these transactions.
American Mortgages has proven results-driven solutions for U.S Expats and Foreign Nationals. We understand the requirements of our international borrowers and provide tailor-made mortgage solutions to purchase, refinance or release equity regardless if you have U.S. credit or prior investment experience. Speak to us today to understand how you can obtain a mortgage for U.S property without leaving the comfort of your home. Visit us at www.americamortgages.com to find out more.