All Forum Posts by: Salvatore Spano

I am a foreign investor, living in France. I own 1 SFR in Ohio and would like to increase my investment.

I am looking for a lender that is able to offer a DSCR loan up to 70%LTV, so far the best proposition has been 65%. The property I intend to purchase is below $90k.

I would be grateful for any useful suggestion. Thanks in advance for your input.

From what I read, it seems that I am not exempt as I don't satisfy condition no.3:

The individual is not a senior officer of the reporting company.

Thanks for your post.

Are some LLCs exempt from submitting this info? In particular, sole proprietorships? Does anybody know?

Thanks.

Hi. I am a foreign investor, living in France. I would like to purchase several properties in Toledo and Detroit and would need several smaller loans to purchase properties at around $75k. I am finding it a bit difficult, as most lenders would not consider loans <$100k. Is there anyone who would consider this type of loans? 
Thanks very much in advance.

Since my main assets are overseas, I am also considering homeowner loans abroad. The downside is that you have to repay the loan in GBP (for instance) while your investment income would be in USD. This add an element of unpredictability.

I am a non US resident investor. I own a rental in Ohio and would like to increase my investment (purchase another one or maybe two).

I would need a long term loan or mortgage using my house as collateral. I have already spoken to various lenders, but the minimum loan offered ($100k+) and especially the LTV required make their offers unattainable at present. Is it possible to borrow with fewer constraints? Would any lender also consider properties held overseas?

Can anybody point me in the right direction? Thanks in advance for any suggestion.

@Charles Carillo  Many thanks, I sent you a message.

Hi everybody,

I would be very interested to know how much foreign investors pay in taxes on their rental income, using an LLC. I understand that this way you can elect to connect the income to the US company you have formed, and are therefore entitled to quite a few deductions, but you would still have to pay a 30% rate on your NET income, after expenses. It is rather daunting!

I would be grateful if you, as a foreign investor, could share your experience and shed some light on this.

Thanks in advance.

I have considered Columbus, but it is the highest entry level city in Ohio, in my opinion, and my first investment will be <80k. Other markets offer better returns for that amount.

Belated thanks to all for your valuable input.