IT’S EASY TO HAVE A PROPERTY IN USA
Our priority is to make ease of owning investment property in US by combining a high level of management and legal services with high-level of knowledge. Our firm also offers customers a broad range of services, including Real Estate, Investment Consultancy, Tax planning, Mergers and Acquisitions, and Stock Market investments.
HOW DO WE ASSIST YOU IN USA?
- To assist you to buy a property in USA. We assist you to find the right property at the right place and benefit from the opportunity that the real estate prices are surprisingly down to $95K.
- To manage your property in USA. We manage your property in USA; to find a tenant, collect the rent, follow up the payments and taxes.
- To start up a business in USA. We assist you to start up a business in USA to get the investors visa, residence and work permit.
- To assist you for the military issues. You can benefit from the paid military services if you get a work permit in USA for 3 years and spend 183 days there each year.
- To assist you for childbirth services. To find a hospital, doctor, accommodation and other relevant arrangements.
- To assist you in USA during your business and leisure trips. All the arrangements, transfers, reservations and car rentals for your trip.
REAL ESTATE – BUYING & SELLING
There are two ways to buy a property
- To buy bank owned properties: The banks try to sell these properties through the real estate agencies. We send you the alternatives via email taking your preferences into consideration. You make an offer for the properties you are interested in and we help you by advising the selling prices for the last 6 months. You need to deposit 10% of the offer and pay a service fee of 10% of the offer along with a copy of bank receipt as a proof for having the offer amount in your bank account. You deposit the amount to the account of the real estate agency in USA. If the bank approves your offer, they give you a date for a month later. If not, we return your deposit.
- If you’d like to buy one of the alternatives from our website, you need to pay a 10% deposit and a 10% service fee to proceed and we send you the sales contract in 3 business days. You sign and return the contract with the rest of the payment and the procedure is completed. This way, you avoid waiting for an approval or the sales procedures for a month. The sales is completed at the Consulates in Istanbul or Ankara. You receive the title deed in 2 months however you are able to see your deed details online before that. Would you like to have a vacation and make a smart investment at the same time? We think that it is better to see the properties before you buy them, therefore we help you arrange a trip to USA through the travel agencies we cooperate with. We assist you to see the properties you are interested in and arrange your transfers to/from your hotel. As soon as you decide, we help you to fill in the offer form and hand in to the bank. It takes 3 – 5 days for the banks to respond. If you spend enough time, you will go back home knowing about the results of your offer.
So, the only thing you need to do now is to apply for a visa to USA.
Investment in USA
United States is one of the best places to be living in. It is very important to be working with an expertized real estate consultor whether you think of hiring, buying a property. The property that you are interested in, may be a condo, a hotel, a land by the sea, a house to invest in or an incomplete house still in construction. Whatever you are interested in, you need to have a detailed market analysis, the financial approvals, the knowledge to choose the right property and the procedures. While buying a property, our very first objective is your satisfaction. You shouldn’t have any questions and get all the answers on time. To be a real estate consultor doesn’t only require to find the right property or project for you but also giving the right advices and directions by taking your needs and preferences into consideration.
To have a house in USA
It is possible to have a house in USA with only 30% down payment. Foreigners are able to buy properties in USA with a down payment of 30 – 40%, with a 30 years mortgage for the rest. The interest ratio is 5 – 6%. There are very attractive programs. For 30 years financing, your monthly payment for the mortgage is approximately the same with the income of the property if rented. Unlike in Turkey, there is a longer procedure there to follow. After you choose the property you want to buy, there is an inspection to analyze the missing or broken things in it. If none, there is a 3 – 4 week financial process. In the meantime, the necessary documents are presented to the bank. The qualification, the appraisal, the title work takes about 3 – 4 weeks. The more the down payment is, the easier the bank approves the loan.
The documents needed:
- Copy of your passport
- The credit card statements (if possible)
Written reference from a financial firm Written document from your bank to prove that you have the amount of the down payment (20 – 30% of the whole price) in your account. Your annual income statement These are the documents that you can easily get in Turkey. Therefore, the financial procedures are easy to handle. Another issue that is also important is the closing cost. It is about 3 – 5% of the price of the property. For example, for a $100.000 house, it is about $3000 – 5000. Please note that the buyer never pays a commission in Florida, it is always the seller to pay it. If you are a buyer, you have nothing extra to pay for.
When everything is complete, we proceed with the closing.
Generally speaking, with its large and diversified economy, the United States is the premier location for investment.
The U.S. has a gross domestic product (GDP) of over $18 trillion* in 2016 and that is a significantly larger GDP than that of many other countries. From a housing perspective, due to recent improvements in market conditions including U.S. economic strength, low housing prices, solid demand, strong rent prices and attractive exchange rates, the U.S. has drawn increased interest from foreign buyers.
- High quality American properties are available at affordable prices
Exceptional investment properties can be found within the $50,000 to $200,000 USD range. Prices are so low that often the replacement cost of the structure exceeds the purchase price. In some cases homes can be purchased for 50% below replacement cost.
2015 Demographic Study concluded that the USA has the most affordable housing market of all countries surveyed, with a median multiple of 3. Australia was ranked the third least affordable country with a median multiple of 6 (i.e. Australia is twice as expensive relative to incomes).
- US properties are usually cash flow positive immediately
US investors enjoy an average gross yield of 9%, and up to 19% in some markets, meaning a $100,000 property can return $19,000 dollars each year in rent (in addition to any appreciation in the value of the property). This compares favorably to a much lower average gross rental yield of 4% in Australia.
- The US housing market has strong capital growth potential
The US property market has turned the corner after its GFC collapse. Prices have already started to rise, and well-chosen property will enjoy considerable capital appreciation. Most economists are forecasting solid gains over the coming years, and the latest data shows growth rates are exceeding expectations in 2015.
- Investing in US property helps diversify your assets
Like most people you’re probably holding most of your wealth in your own home, investment properties, and your superannuation fund. Super funds are normally invested in the local share market. You may also have direct investments in the ASX. This leaves you heavily exposed to a downturn in the economy.
Why are the properties so cheap?
Answer: It is because of the unexpected financial situation in the real estate market. The banks loaned e.g. the condos on our website at $180K and when the real estate prices lowered significantly, people couldn’t pay for it and the banks get the ownership. There are millions of properties like this and the banks sell them at the possible lowest price them to avoid the monthly fees, maintenance costs and etc. and the difference is declared loss and deducted from the tax
Do you have properties with tenants already living in?
Answer: There 2 properties on our website with tenants living in them.
If the tenant doesn’t pay for the rent, how do we follow that up? If they get out, is it possible to find new tenants immediately?
Answer: If the tenant doesn’t pay for the rent, you send for a 3-day warning and if he/she doesn’t pay in 3 days, you file for eviction and the state sheriff goes through with it. To find a new tenant depends to you or to the management company you work with. Nobody can guarantee that however the tenants tend to live in long years if you rent your property for reasonable prices.
How much are the monthly fees approximately?
Answer: The monthly fees varies from $170 to $255 according to the property. The monthly fees of the properties on our website are mentioned.
Where do we complete the procedures for the title deed?
Answer: Depend on whether you are able to come to USA or not. It is both possible to do it in USA or in Turkey.
Can I still open a bank account if I don’t have residence permit?
Answer: You are able to open an account with the copy of your passport.
How do we transfer the money?
Answer: You wire the money to the account that the bank provides
Do I pay income tax for the rent?
Answer: Because the income you get for the rent is under the lower limit for the income tax, you don’t.
Does the property we own in USA, help us to get a residence permit?
Answer: Unfortunately, no. Investing and getting a residence permit are two different issues.
Can anyone buy a property in USA?
Answer: Yes, everyone who wishes
Who pays for the monthly fee? The tenant or the owner?
Answer: It is paid by the owners and it is called HOA (Home Owners Association fee)
Do we need to be in USA to buy a property?
Answer: No. You may complete the procedures at the consulates in Turkey.
Is it easy to find a tenant after buying a property?
Answer: In general, yes, it is really easy. If you want to rent your property right away, you may lower the rent a little and do it. For example, you may find a tenant quickly for $700 whereas the equivalents are rented for $750
Who handles the work for finding a tenant or following up the rent?
Answer: There are ‘Management Companies’ in USA to handle all these for a commission. They find a tenant for you, collect the rent, follow up the monthly fees and tax payments.
Which is better? To get a loan in Turkey or USA?
Answer: To get a loan in USA, the lower limit is $100K and for up to 30 years. The interest ratio is 6% annually on usd basis. To get a loan in Turkey, you need a collateral. The interest ratio is 0,95% monthly for 5 – 10 years on TL basis. The major difference is that in Turkey you owe with a fixed rate and TL basis.