How to invest as Non US resident no FICO score

Question

I don’t have a credit score, as I am from Europe and so no fico score.

I do invest in US, I have 2 investment properties, cash deals in an LLC. They are cash flowing great:

Asset 1 doing 775$

Asset 2 doing 1150$

Now I would need finance in order to grow my portfolio.

Please advise.

Jan

Tim Johnson · Answer

Couple things you will need.

1. Do you own a home in Europe? They will need 12 months of Mortgage history, cancelled check and bank statements showing you paid the home on time for 12 months

2. US bank account for 6 months- this one varies by lender but it makes it much easier- they like to see the money in US accounts

3.Articles of organization for LLC

4. Operating agreement for LLC

5. Are you a single member LLC, makes life much easier if you are

6. They usually require ACH payments on the mortgage so make sure your bank allows that.

7. 6 months of bank statements with at least 6 months of reserves to pay the mortgage

8. Pass background check- some lenders charge between $750 to $1450 for this. Upfront no refund

9. Depending on lender plan on DSCR 1.25%

Plan on 65% LTV- and rates in the low 8% range right now- if you meet all those guidelines they are super easy to get approved

How to invest as Non US resident no FICO score

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