International Properties

Global Forum – International Real Estate

Posted on April 17, 2018. Filed under: First Time Buyer help, Informed Investor Alliance, International Properties, Lenders & Loan info, Making Life Easier, Orange County Real Estate | Tags: , , , |

 

Ways Immigrants Can Buy California Property

Have you been thinking about buying in the US, but live in a foreign country? We can help! There’s lots of talk in real estate about EB 5 Immigration , it’s a program United States offers to encourage foreign investors to purchase property here in the US. Because Trump administration has been putting the brakes on immigration recently, a Green Card is tough to get! This has caused major issues and investors (particularly from China) are getting turned away. 😦 But don’t be discouraged. According to Immigration attorney Qiang Bjornbak, depending on your country of origin and job, there may be options for your visa:

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If you would like to explore which immigration solution is best for you, we would be happy to put you in touch with Qiang for a consultation. She can help pave your path 🙂 Once you are able to legally own a home in the United States, then the next challenge is to obtain financing.

How Foreigners Can Obtain US Loans

Foreign loans don’t come without challenges. Seasoning, or the amount of time your money has been in the bank, can be a big one. Another issue can be a newer social security number. Furthermore, reported income, foreign bank statements, and low appraisals are all landmines that can explode during the loan application process. Red flags everywhere…what’s an investor to do?!

It was great to hear from a panel of lenders who are open to working with foreign buyers, and have experiences to overcome challenges. If you’re buying for the first time in the US, you NEED an experienced lender to make your loan process smooth. Regardless of which lender you select, always run a DU (Direct Underwriting) to make sure your loan is fully approved. Usually about 30% down is required on foreign investments, and you need 2-12 months of reserves. Certain lenders also offer down payment programs. Sometimes these loans can be closed in 30 days, but usually they take about 40-45 days. It’s best to make sure your funds are already in the US to ensure there are no delays.

According to feedback in the room… Sterling Bank & Trust is very easy to work with and has fabulous programs that are easy to qualify. ChinaTrust Bank has an ‘asset based’ program which is great when income isn’t high. Cathay Bank offers a foreign HELOC, which is very rare! Here are all the panelists, just fill out the form below if you would like an introduction!

  • Sterling Bank & Trust – Steven Chang
  • New American Funding – Frank Fuentes
  • HSBC Bank – Buddie Krugh
  • Cathay Bank – Howard Tung
  • ChinaTrust Bank – Kevin Yang

What States Do International Investors Prefer in the US?

Interesting question! Literally, it’s all over! According to 2017 data, here’s the top 5:

  1. Florida
  2. California
  3. Texas
  4. Arizona
  5. New Jersey

If you think sunny Southern California is the best state for you, let’s talk! Just fill out the form below or text call Angie at 949-338-7408. Happy investing – we can’t wait to help you open the door to your US property!

 

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Costa Rica Real Estate and Vacation Homes

Posted on November 15, 2017. Filed under: Costa Rica Real Estate, First Time Buyer help, International Properties, Real Estate Stories | Tags: , , , |

Want to live where others vacation?

I was recently visiting Costa Rica where I connected with Melissa Smith, a real estate agent with Coldwell Banker Tamarindo. She went into details about the buying process in Costa Rica, and how you can go about getting yourself a home in the beautiful land of ‘Pura vida’. Spending some time in this gorgeous place made me want to share insights with buyers and investors on how to safely purchase property there!
costa

I mean, wouldn’t you love for these ocean views to just be a short walk away from your home?

What do you have to do to buy a Costa Rica vacation home?

Melissa told us during our interview that Costa Rica real estate’s most busy season is November-April. $250k will give you a two bedroom two bathroom place in Tamarindo with about a five minute walk to the beach. If you want an ocean view, it would be around $350k, but how can you beat that?

The right team can close a house in just 14 days, but typical timeframes are around 30. If you are planning to buy in Costa Rica, you’ll need cash or a HELOC – they don’t offer mortgages to foreigners.

In Costa Rica attorneys do all of the closing, so you need a good real estate agent, and they will connect you with a reputable attorney as well! Buyer beware – anyone can be an agent over there (literally, your taxi driver) so make sure you’re working with someone like Melissa who has the proper credentials and experience.

If you’d prefer to buy in another area of Costa Rica just reach out to us – we’ll use our Certified International Property Specialist (CIPS) designation to interview and connect you with a great Realtor in the area.

My favorite part in researching Costa Rica is that property tax is just .25 percent! In other words… $250 for every $100k…so affordable! 😍 If you are less than 50m from the ocean you are actually leasing from the government which is called “concession land.

There is no multiple listing (MLS) system set up in Costa Rica, so it’s crucially important to hire a very motivated real estate agent to make sure finding your dream home is an easy process! Every office will offer different listings, so your agent will be required to do a lot more legwork and networking than agents here in the US.

If this sounds like something you are interested in learning more about – let’s talk! I’d be happy to help you find what Homes and land are available currently in Costa Rica. You can get ahold of me at 949-338-7408 or email angie@askangie.com – let’s make your tropical dreams come true!

costarica

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CIPS – Why we think International Real Estate is so important!

Posted on August 18, 2017. Filed under: Balboa's Best Property Deals, Home Seller Tips, Informed Investor Alliance, International Properties, Orange County Real Estate | Tags: , , , , |

First of all, what even is a CIPS?

That is what AskAngie team is here to explain! CIPS stands for Certified International Property Specialist, which means that we are designees that have been trained and certified on how to help you with your international real estate needs. We are well informed on how different cultures interpret people and real estate. CIPS designees are prepared to work with international clients, international funds, as well as American clients who choose to buy internationally. We are relied on because of our expertise in international real estate.

Why do we need Certified International Property Specialists?

Global business and international real estate have expanded a lot so these designees are need more now than ever before! Recently, foreign buyers have spent a lot more money in real estate – to the tune of over 1 BILLION per year. Earning the CIPS title makes agents more creditable and resourceful. CIPS have access to a wide network of professionals that can help you with your property needs around the world. Through research we are able to protect you from losing property or buying in a country where you don’t actually ‘own’ your home. We make sure you are buying legitimate properties wherever you may be looking! People are moving from foreign countries to the US every single day and many Americans look into property overseas as well. Because of the work Certified International Property Specialists do, these home owners are able to have a smooth and reliable transition into their new space (or out of their old)!

Watch this video on why we think CIPS is an important designation!

We recommend if you’re thinking about buying out of the country, call us at 877-230-3211 or text Angie at 949-338-7408 to take advantage of the CIPS education and put it to work for your real estate needs! 🙂

international

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    Orange County, CA Real Estate for hip first-time buyers and investors. Plus, fun things to know and do in OC.

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