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Secured card, are for people who can not get any credit cards.
Normal process is to start with few "easy" credit issuers. Store credit cards, (Kohl's Belk's Macy Etc).
Establish a on time paying record. For about 6 months or so, Making Small Purchases each month and paying them off on time.
After 6 months or so then apply for a VISA/MC. Try to find a credit union when you should have established your Checking account, your odds of getting VISA/MC from them are good.
Contact a lender and they can give you some advice. They want your business so they'll give you the path way you'll need to follow to qualify for a mortgage.
I would plan on a job(s) when you get here,
36,000USD/Year is not that much money to live on,
Not sure how big your family is,
But 36K a year will go quick.
that's the reason becouse I want to buy some hauses to rent
Sure, I will work in the short term (here I'm a bank middle manager), but not immediatly.
First of all, I want to learn a good english, and the local habits; then have a look around...and find a job, within 6/12 months
My family is me and my wife, since our daughter will have a job in nyc, so she will leave us as soon as we arrive in the USA
My advice to people transferring/moving to a new area is rent for a year or so to understand the area be you will be comng to, be it from within or from outside the US.
Last week, I was able to get foreign nationals loans on owner occupied properties, not rental. It could have been used with multi unit buildings, 2 to 4 units. That program stopped. This program was in California where we have many non citizens wanting to buy. If you can't find a loan in Charleston, you might need to look at different area where you can get a loan.
I just saw that you don't have a job, that will be a big problem with most banks. You might be able to get a loan but it will be at a higher rate than a mortgage from a big bank. If you can make the numbers work with with 50% down and interest rate of 16%, I think you can get a loan.
Last edited by thelopez2; 11-13-2013 at 08:24 AM..
sell all my assets here in europe, transfer money to USA,
and became a little landlord (it's in fact what I do here).
I don't know exactly how it works in Charleston: it's possible to have it financed ?
It'll be hard and especially at first.
Start by buying lower quality properties and paid in full (no finance at all).
Get tenants in place, fix them up, establish the paper trail of income (and taxes)...
after a year re-assess the property and THEN finance against the increased equity.
Pay yourself back for the initial cash outlays. Repeat.
As YOU and your enterprise establish more credibility the lenders will do more.
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