Is it possible to use multiple rental contracts in a single-family home? What are some factors to consider before you convert a home into a multifamily residence? That’s the first question I’m answering on today’s show! On this episode of Investing in Real Estate, I’m taking three of your great questions on using multiple contracts, how to buy real estate in the US as an international investor, and ideas for utilizing home equity if you have a bad credit score. Click play to hear my answers to your questions! On this episode you’ll learn:
- What to consider about using multiple contracts in one property.
- How to buy US real estate from overseas.
- Ways to access home equity when you have bad credit.
What to Consider About Using Multiple Contracts in One Property
Converting a single-family home into a multifamily home is definitely possible, but you’ll need to do some research. Each state, county, and city can have different regulations when it comes to multifamily zoning. I would suggest you start by speaking with local housing authorities in your area. It would also be wise to talk to a lawyer for legal guidance.
How to Buy US Real Estate from Overseas
At Morris Invest, we’re happy to work with international investors. You should know that there are going to be extra hoops and hurdles for you to jump through, such as opening US bank accounts. Financing can also be more difficult to establish. But if our properties are a good deal for your situation, we’d be happy to walk you through the process. Schedule a free call at morrisinvest.com so we can learn more about you and help you determine if full-service rental properties are right for you.
Ways to Access Home Equity When You Have Bad Credit
Banks might turn you down if you have a lower credit score, but if you own properties free and clear, your credit score shouldn’t hold you back. Seek out alternative funding through avenues like private money. I’d also suggest reaching out to my friend Dan Kraus at Churchill Mortgage or consider using a company like DLP Capital. Your credit score might limit you in some ways, but don’t let it stop you from reaching your goals. And more importantly, don’t let it define your worth as a person.
Ask Me a Question at morrisinvest.com/clayton
Episode Resources Book a Call with Our Team morrisinvest.com/Clayton Dan Kraus at Churchill Mortgage DLP Capital Download the Freedom Cheat Sheet morrisinvest.com/connect Download the free Financial Empowerment Bootcamp Subscribe to Investing in Real Estate on iTunes Find Your Financial Freedom Number Subscribe to the Morris Invest YouTube channel Like Morris Invest on Facebook DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments. AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion. We recommend them because they are helpful and useful, not because of the small commissions we make if you decide to use their services. Please do not spend any money on these products unless you feel you need them or that they will help you achieve your goals.
Ready To Build Passive Income Through Rental Real Estate?
Ready to talk about your goals? We're here to show you the tools and teach you the process to begin earning legacy wealth for you and your family.