All Forum Posts by: Shervin Fakhravar

 Hi Don! 

I did do a quick google search for lien and found some information in my language, I now see more of the problem of how I have phrased this. Plus the problem of how i have been thinking. 

When you say: ''usually involves paying “more” than you would normally.''

Do you mean that it's not worth it? Me and the team were looking primarily at BRRR and houses that needed rehab. But then the idea of seller financing came up sparking the idea of being able to take out a loan on that house to finance the next. We wanted to explore this idea but have not yet yielded any results.

 Hi Kevin! 

Thanks for straightening out a few things, this is EXACTLY what I wanted. However, you didn't exactly ''shut the idea down''. If I can take out a second loan on the amount that I have put in, plus I might have to wait a year, that does sound like:

- Time for save up money

-Time to make sure everything is working smoothly with the property

-More money getting paid of off the loan, meaning bigger LTV. (hopefully)

Your numbers example is not a bad one, and $30k might just be enough. The entire idea of property investing in the USA is the ability to scale the operation, this would still allow for that but to the same extent that we might want, I don't know. 

Thanks Kevin MUCH appreciated! 

Hello! 

I need some advice and perhaps if anyone knows a bank to connect me with. Currently, me and my team are looking at seller finance deals, where we wouldn't have any loans on the property but rather a lien saying that if we don't pay off the person they take the house back. 

I'm wondering if you know of any banks willing to give out a loan on a property with a lien on it? Say that the property is worth 200,000-300,000$, a loan between 40-60k would be enough, anything above would be nice but unnecessary. From what American Mortgages told me it would not be possible through them as they need to be first in line to get paid if a ''failure to pay'' situation would occur.

But I really wanna hear your opinions on this, taking out a loan on a property that you own 100%, but there is a lien on it. Good or bad idea? And banks, any banks that are willing to work around the lien situation? 

Thanks in advance guys, you are the best! 

 Thank you for your response. We gladfully take all information that can help us on the way and will for sure take a look at the US Syndication loan market! Do you maybe have some contact with those foreigners that went that way in their investment strategy, that we can reach out to and ask some questions? 

@Edwin Epperson

Hello Edwin! Thanks for your reply, i will try to answer all of your questions!

1. We are looking for long term lending, we are currently reaching out to different banks asking questions and trying to find the best fit for us. I totally agree with you; a large capital really makes investing easier. Luckily we have gathered a rather large sum to make plays with. On a side note just to clarify, we are also trying to refinance the property after a renovation. So, we want to reevaluate the property after our renovation so that we can increase our current loan with the bank, then use that money as a downpayment on our next house.  

2. I now realize I wrote that a little confusing. What i meant was how can we get a good deal on a renovation from contractors. Is there annything to say, to look out for, to ask for? Or maybe just build a good partnership? It would be nice to work with a RE investor and get experience from them before jumping in head first. I don't know which area of FL would be interesting or if we even choose florida, but could you recommend someone? I would love to get into contact with one and hear how the deal would be done, if it's viable or not for us! 

3. It is long term that we are interested in, I'd happily talk more specifically about the exceptions and see what we can work out! I know that me and my team can offer great and uniqe value to lenders Also; great tips. We will definitely look forward following them! You and your answer is exactly why BP is such a magical place - thank you sincerely.

As you're providing value to me and my team the first and biggest question that arises in my mind is the following: how can I provide value to you Edwin? A Lannister always pays his debt ;) 

@Remington Lyman

Thanks, I will look into reaching out to them!

@Carlos Ptriawan

You do have a good point about seller financing, noted! Also a good mindset to have about the LTV, thanks!

@Kimberly Elson

Florida would be interesting, we will be looking more into the sunshine state! Great Swedes think alike! 

If i may ask, did you move to the USA and then invest in properties, or did you still live in Sweden and invest in American property? 

@Alex Olivera

Do you have anny mortgage brokers that you recommend? Anny banks that you recommend that offer DSCR? Just searched up the term and found Angel Oak. Many thanks Alex for your comment, love finding more banks!

I would like to thank you all for responding, we appreciate your engagement and we are surely inching forward! Notifications will be turned on from now on, big love from Sweden! 

Hi!

Me and my three close friends are stuck in the phase of finding a lender for us as foreigners (hi from Sweden!). Our common goal is to invest together as owners (leaning towards LLC) and do it through BRRR to be able to FIRE. We was curious regarding how other non-residents have worked out your financing when it comes to RE. Do you possibly know any other banks/institutions that may give good deals and conditions to us? The state we are in now: we are currently looking at markets to invest in and are obviously contacting various mortgage lenders to see where it leads. Unfortunately we haven't really gotten any results, however we have slimmed down our geographic location to Texas, Ohio, Idaho, Florida, Goergia, NC and Missouri. The biggest problem we find with mortgage lenders is that they usually don't propose good conditions with refinancing - usually they require us to hold the property for about 3 years.

So a question to all: 

1. is there anyone whom has a good referal for financing for us? 

2. How did other out-of-state investors get in good contact (and good deals!) from contractors?

3. Does anyone have experience with seller financing (but without a US credit score)?

Obviously we happily take tips regarding anything that may help us as first time investors.

Looking forward to hear from you!

Hi everyone! Long time no see, I thought it was about damn time we spoke about our fine (but unfortunately forgotten!) minority here on BP - our foreign investors.

I am personally not from the US, making every move I do in the American housing market a tad harder and I would TRULY appreciate tips from other foreign investors - how do you do it? What challanges arose and how did you handle them, I am very interested in hearing every single on of your stories since every story is so special.

For example, how and where did you get your financing done?

Congratulations! Cheers to more life in 2021!