On Bloomberg, foreigner vs local mortgages

 

Explaining the key difference between getting a mortgage as a foreigner vs as a local. It's the downpayment requirement.

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Rules for foreigners buying New York property

Rules for foreigners investing in New York property summarizes the key points for potential foreign investors.  

Points covered include FIRPTA withholding tax, whether there is extra stamp duty and estate tax.  A great overview before doing the deep dive.
  

Buying New Condo in Manhattan, Tips for the Foreign Buyer

Buying new condos in Manhattan is a strategy that many of our foreign clients pursue.  The objectives are either for rental return or for use as vacation home.   By the time a foreign investor client reaches out to me, he would have researched extensively online and have a strong understanding of the Manhattan market.

In addition, the client would have read a lot of my articles on the subject of investing in Manhattan condos.  Still, there are many questions.  Understandably, buying a condo in a different country is a major undertaking.

Here are some tips for foreign investors:

Read article:  Buying New Condo in Manhattan

Top 5 mistakes when investing in New York property

Whenever I meet a new buyer client, especially a foreigner wanting to buy an apartment in Manhattan for rental income, the client often has certain pre-conceived ideas.  This is understandable because it is impossible to understand a market from researching on Google from a few thousand miles away.  The pre-conceived ideas are as follows.  Not necessarily good or bad, but without proper advise, they could be costly mistakes.

Assuming popular tourist areas are best for investment

Foreign buyers usually assume Fifth Avenue, Central Park, Times Square, Wall Street are the “good” areas for investment.  This because these are tourist destinations the media associates with New York.  I totally understand and if I were planning on investing in a different city, say London, the only areas I would know are the tourist destinations.  Naturally, I would also associate investment stability with these locations.

How Foreigners Can Buy New York Property

International homebuyers have been pouring billions of dollars into the U.S. housing market as they take advantage of lower home prices and a weaker dollar.

But many foreigners find it difficult to navigate the complex homebuying process when living abroad -- especially when they want a mortgage to finance the home.