Another important thing he missed to tell. Most of the homes in Bay Area are built during 1950s and 60s. So you would have to cater maintenance costs too. For ex problem in plumbing electrical roofs etc… nowadays it’s becoming expensive for even small handy man fix cost
he said he bought his house in 2006. The financial crisis happened in 2008, he bought it in the peak market. Also, when he bought the house, there was no restriction in home lending. Banks used to lend no doc loan, which contributed to housing collapse.
This is a good idea. However I would think it needs to be all cash and as you may know, banks will not be able to provide you with mortgage. Also, I am not sure how the FDI (Foreign Direct Investment) would work?
@chatwithKC thanks for your reply... I understand there are possibilities for US banks providing mortgage to foreigners. Maybe I should recheck on this
Totally, I can relate to this @memphistnliving - Great Insight and with things changing rapidly post COVID and the ability to do tech. work from anywhere, it makes a lot of sense.
Based on what he said he owns couple of multifamily house but he spends most of the money in emi and right now he doesn't even own any single house. Everything is in EMI and this is how most americans are living. full of debt.
Thank you Karthik and Arul for informative session - Singapore.
Thanks Veejay - Glad you liked it.
Thanks Kathik for interviewing someone who is having very good knowledge on this topic. Very informative.
Thanks Uboom123 - Glad you found the interview useful.
Another important thing he missed to tell. Most of the homes in Bay Area are built during 1950s and 60s. So you would have to cater maintenance costs too. For ex problem in plumbing electrical roofs etc… nowadays it’s becoming expensive for even small handy man fix cost
Very informative and clear explanation.
Thanks. Glad you found it useful.
Very Good questions,Thank you
Thanks Victoria Saravanan. I am glad you liked the questions.
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he said he bought his house in 2006. The financial crisis happened in 2008, he bought it in the peak market. Also, when he bought the house, there was no restriction in home lending. Banks used to lend no doc loan, which contributed to housing collapse.
Very bad idea to get 401k loan ! If it stays invested stock always beats the RE appreciation!
I live in India and trying to purchase rental income property in the US.
This is a good idea. However I would think it needs to be all cash and as you may know, banks will not be able to provide you with mortgage. Also, I am not sure how the FDI (Foreign Direct Investment) would work?
@chatwithKC thanks for your reply... I understand there are possibilities for US banks providing mortgage to foreigners. Maybe I should recheck on this
Property tax is equal to rental
Property tax as you know keeps changing and is based on the market value of the property (It also varies by State).
401 K pathi detailed video post pannunga
Hi Suresh, Thanks for your suggestion. You may also want to check out Vijay Mohan's @InvestmentInsightsTamil channel.
@ Sure will do
Why not move to affordable suburbs if Memphis Tn like Bartlett and work remote 😂😂 less mortgage stress better life😂
Totally, I can relate to this @memphistnliving - Great Insight and with things changing rapidly post COVID and the ability to do tech. work from anywhere, it makes a lot of sense.
20% down payment
Based on what he said he owns couple of multifamily house but he spends most of the money in emi and right now he doesn't even own any single house. Everything is in EMI and this is how most americans are living. full of debt.
Thanks for sharing your thoughts and perspective as well @recikaakaarthik6061 - Sure. This is another way to look at it.