Loans and Credit as a Foreign Investor

[Kelly Wylde]

Hey all. I'm looking into buying properties throughout the US, but as a foreigner not living in the US, finding financing is a massive hassle! If I find someone willing to lend, I'm always faced with one of the below challenges:

-Loans with interest rates abot 7%

-Loans that require a downpayment of 40%

-Minimum loan value of $300,000

-Lending only offered in one or two states (in which I'm not looking to invest)

Another problem is that I don't have a credit score in the US. I do have a Canadian credit score, and I have a US investment bank account with cash parked in it, but I'm told I'd still need to build some credit in the US to get better rates. How would I go about doing that, when I eventually *do* own a property? If I buy outright or with owner financing, would paying the property taxes be enough to build credit? Or would I be better off trying to acquire more of a conventional loan and make regular payments on that?

This whole process is quite daunting, so I appreciate any and all help!