Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 10 months ago,

User Stats

43
Posts
8
Votes
Yael Fuerst
  • Hallandale, FL
8
Votes |
43
Posts

What would you do?

Yael Fuerst
  • Hallandale, FL
Posted

Ok so here it is:
We own 2 properties with no debt on them, one is valued (according to realtor.com) at $256k and one is around $60k. 
Kicking myself for not growing our portfolio sooner but better late than never I guess.

Here's the thing - 
We don't live in the US, my husband is a US citizen but since he hasn't lived in the US for many years he has no credit history.

Now comes the fun part - we are in a lot of debt where we live (like $115k in loans). My husband started a business recently so income isn't steady and my income is on the lower end and we are struggling to cover our expenses since we have so many high interest loans.

So my question is like this:
1. What financing options are out there for us to take financing against one of our properties being non US residents with no credit history?
and
2. Should we use that financing to pay off our debt where we live or use that to take on more debt and grow our portfolio? I think the second option makes more sense in the long run but is it smart to do when we can barely cover the debt we have now?

Open to any other creative ideas to get us out of this mess. Feeling desperate and hopeless.

Loading replies...