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.
Private Lending & Conventional Mortgage Advice
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 almost 7 years ago,

User Stats

10
Posts
11
Votes
Yannick Dos Santos
  • Accountant
  • Melbourne, Victoria
11
Votes |
10
Posts

HELOC support for overseas investor

Yannick Dos Santos
  • Accountant
  • Melbourne, Victoria
Posted

Hello to you all BP community!! It feels great to be back after several months. 

I was just here about 8 months ago looking for advise about stepping up and investing in the greatest country of United States of America. before I continue, just a bit of myself... I came to Australia about 7 years ago from South America looking for a future and survival of my existence (literally), since Australia's market has become a big financial bubble quite impossible to penetrate, I decided it was best to get into USA since I loved this country when I just a child, I always have. A few months ago I jumped into this game called 'investing in real estate' and so far this experience has been real good and rewarding. I bought my first single family home with a turnkey company located in Ohio by September 2017 and I am very proud to say that by April or May 2018 I will be buying my second single family home with the same company. 

After all, I would really like to hear some advise from this community about using HELOC to buy the third property, my questions are..

is it possible for an overseas investor to apply for HELOC in USA? even tough I own two single properties with no debts. I have to mention that I do have a relationship and a bank account with a local bank in Florida and I do own a LLC in Ohio

Would I be able to use the equity on my two properties to pay down the deposit for the third one?

Is all about strategies, also, in the meantime, I will keep working and saving money in Australia, same way I have been doing for the last year or so.

Thank you very much in advance for any help or advise I could get

Loading replies...