foreign national investor seeking 2nd investment property

[Pilar Jin]

Hi everyone,

My name is Pilar and started invest in property 2 years ago with a single family home in South FL. So I've got a little bit experience, a good team and enthusiasm in this field. Now I am ready to continue with the investment and seeking 2nd single family home or duplex. 

My first deal ran very smooth, but biggest challenge at that time was the mortgage for foreign national. As foreign national investor, the down payment will go up to 60% if I lend again from the mortgage lender.

Here are my questions:

1. Are there other financing available for foreign national without social security number?

2. Is the property better under my own name or LLC if the goal is to have positive cash flow to support quit job?

Look forward to hearing your kind advice.

All the best!

Pilar

[Sam Van Horebeek]

@Pilar Jin

1.  you could contact HSBC - they provide financing to our clients which are all foreigners (min. loan amount will be about 300K or 400K USD)

2. I don't see much difference between buying with an LLC or buying in your name to achieve your cash flow goals. The major difference is in liability protection and there are also differences in taxes. As a simple rule, if you only plan to purchase one property, it is probably not worth the time and expense to set up and manage an LLC. If you do more than one property, an LLC probably makes sense.

hope this helps!