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Updated over 8 years ago,
Loan possibilities for a non-us resident to purchase rental(s)
Hi!
I'm looking to acquire a 3-5 unit multifamily property in Ohio by the end of this year. What i'm currently pondering thought is how i'd be able to acquire a loan as a non-us resident to even be able to get the property.
I have 30-50% of the purchasing cost, but i'd need to be able to leverage the equity in the property that i'm acquiring to make it worth it to invest overseas, and even make the deal possible.
My question is, does anyone know what the easiest/best route for a foregin investor to acquire a loan? The cost of the property would be somewhere around 130 - 180K, and as mentioned above I have 30-50% of that in cash, ready.
From what I have read and found out so far is that there are very split opinions on this. Some say it's impossible for a non-us resident to even qualify for a loan, others say it's not a issue. Any input on this from anyone who could point me in the right direction/shine some light on this would be extremely appreciated. Thank you so much for your time.