Are there any restrictions for foreign nationals buying in the USA?
None. The USA doesn’t care how much property you own or where you’re from.
How do I purchase a property through your company?
Once you have identified one of our properties, we will send you a personal details form for you to complete along with our disclosure document to review. You will need to sign and return these to us either via email or post.
You will then be sent an invoice for our £500 reservation fee (this can be paid in US dollars also,) (not applicable for Florida purchases.) Once this has been received you will receive all the relevant paperwork inc. purchase agreements, mortgage contracts, etc.
Where is your company based?
We are a UK and US registered company based in the North-West. Our mailing address is: 35a Victoria Road East, Thornton-Cleveleys, Lancashire, FY5 5BU, U.K.
Do you work with international clients as well as British?
Yes. Regardless of our physical location, we help investors from all over the world as far as Australia, New Zealand, and even Japan.
Can I flip for capital profit?
If this is your strategy you can do this. We will help you through the process and put you in touch with the relevant people. We do this as part of our ongoing support for our clients at no cost.
What about income tax?
This is what your ITIN is for. There is a dual tax treaty between the US and UK meaning you can’t pay tax on your income twice. In other words you pay tax where you earn it only (the US in this case.) Taxes are based on your net annual profits. As part of our services we can put you in touch with our UK accountant who specialises in US property transactions. He is also a US notary – there are only 3 in the country.
Will I need a US bank account?
Yes. There are a few options for you. HSBC is the best option as you can have online banking. Other options include Wachovia, and Citibank. We will advise you on the best approach depending on where you invest.
Do I get the deeds?
Yes. Once you have completed, your attorney will register you as the new owner to the US equivalent of the land registry. All documents will be sent to you.
Do I need to visit the property first?
Some of our clients do, but very few. Our service is designed for the busy armchair investor and it is often not a viable solution for clients to visit because of time and the costs involved. Because so much of our work is designed around accommodating overseas investors we try to create an environment for the client that is as seamless as possible, where clients can deal directly with their property manager as if they were 1 mile away.
What fees does UPI charge?
We charge a one-off fee of £2295 with discounts for clients who buy more than two with us. Unlike other companies our fee is transparent and covers everything from property management, guaranteed mortgages, bank accounts, ITIN setups, attorney, and full UK support.
How do I get pre-approved for a mortgage?
In each area we operate in there is a different set of criteria for financing. Some take longer than others. For example, Florida pre-approval will take longer than getting approval for Detroit. Buffalo, for example we work with sellers to provide ‘seller financing’ and this can be an almost instant decision. Under the mortgage section of this website you can make a quick application online.
What is seller financing?
Seller financing is a creative lending technique that allows the buyer to take out a mortgage from the seller instead of a bank. Some sellers use seller financing as an incentive to draw in potential buyers. With seller financing, buyers do not have to meet the traditional lending standards set by traditional banks. Instead, they only need to meet the qualifications set by the seller. In many cases, the seller is willing to be flexible in regard to credit score, income, down payment, and other issues.
What is a Land Contract?
A Land Contract or LC, and also known as a ‘note’ is a truly passive investment, usually for a period of 10 years. As the investor you are the LC owner and your tenant is the LC buyer. The LC buyer pays you a monthly amount under the terms of the LC until repaid in full. The LC buyer is responsible for the property in its entirety.
Are you a regulated company?
We are full members of the AIPP, Association of International Property Professionals. This membership stands for integrety and honesty in an otherwise unregulated market. It also means that as well as our support you have the support of the AIPP should you need them.
How long have you been in business?
We are a relatively new company, formed in 2008. Our growth has exceeded even our own expectations. We are now fully active in multiple US markets and looking to move into others. We have guided over 200 investors in this short time.