Loans for foreign investors with LLC

[Shay Yehuda]

Lets say I bought a house.

Paid 200k$ cash,open an llc, rent it, sign on contract with pay on time tenant and now i would like to move one stap forward refinance this house and buy another one.

-I’m foreign investor

-no debts

-well managed books

1.Where should I start?

2. Average percentage?

3. With refinance i can get up to ___% from the cost or ARV or something alse of the house..?

*if someone can help me with it from his personal experience i will make him to the king of my castle 😉

*If its your job , feel free to send me some details.

Thank you all

[Jaysen Medhurst]

@Shay Yehuda, as a foreign national, there will be a lot more due diligence on the part of the bank. The Know Your Customer (KYC) process will be pretty intense. They will want to ensure that the beneficial owner is actually you and not someone else. They will want to ensure that you or any close family member is not a Politically Exposed Person (PEP). They will need to ensure that there is no potential money laundering taking place. A foreign national buying cash and then trying to get delayed financing is a HUGE red flag. All banks have a duty to comply with the U.S. AML / BSA act. For a small / regional bank or CU, it may not worth the hassle to do that kind of work to vet one (relatively small) customer. In fact, they may not even have the infrastructure to do so. You'll probably have to go with either a national bank or very large regional one. I'm not sure if non-bank lenders will (would be able to) work with you or not. May be case-by-case.

1. Start by talking with some banks. Be right up front with your situation.
2. You should expect rates in the 4s. Maybe higher due to the complications.
3. You will likely be able to borrow ~75% of appraised value, assuming you've owned the property for at least 6 months.