French Investor in Philadelphia

[Simon Battistella]

Hello everyone,

My name is Simon, I'm 24 and I'm a french man living in the beautiful city of Philadelphia. I moved here almost 3 years ago as I fell in love with the city when visiting for the first time. I am a student at Drexel for a second bachelor degree in physics. After walking around the city with a friend I met here, I realise how big the potential the real estate market in Philadelphia was. I actually did not know a lot about real estate, but I had the money for. I started by buying my own house. And then I bought the house next door that was in need of a full refit. I then set up a LLC. I have today, after 1.5 years of being in the market by myself, 6 properties. Of course, I rent them out and do not flip. It is a question of taxation: in France, taxes are very high for high incomes (almost 70%, yes I said 70%...). Therefore, to avoid the double taxation in France and in the US, I do not want any income from the business: I buy cheap, I renovate a maximum (as it is deductible) and I want all rents to go back into the business by investing again and again. No income at all! I want to create assets only (for now). Today, I use a building company and a property manager to help me. In the future, I would like to own my personal building team and have my own broker.

But for now, I'm trying to expand the business exponentially: and this is where I need help and advices. I want to stop taking money out of my own bank account and put it into the business (that's not the most efficient way to do it). I would like banks to work with me: I would like a "full" financing for all the coming projects. Do I have enough properties so far as garanties for the bank? Will I get 100% financing, yes, no? why or why not? How low the interest can be? What bank or institution? I have none of the  properties that make under 15% of investment back (some goes up to 22%): so why the bank would be worry? I'm in a Win-Win philosophy! I win so partners win! Why not the bank? 

All these questions I don't know how to answer myself. I need help and advices to move forward and increase my business activity, my partners wealth and of course my passion for getting into big challenges. 

I'm new in this forum and I heard a lot about it! I'm ready to work with you, get your advices and give you all the advices I could have earn these past years.

Thanks to all. 

Regards,

Simon.