All Forum Posts by: Usha Nanthini

Hi Ammabelle, thank you for giving me some confidence here. I can work with an LTV cut if need be with better rates. Do you have any recommended providers that you can direct me to? Thank you in advance!

0 Votes

Quote from @Nate Herndon:

@Usha Nanthini I do have some programs I have used for foreign national clients at lower leverage, but may work for your situation. Here are some aspects of those programs.

o 65% LTV for purchase
o 60% LTV for cash-out refi
o 12 months PITI reserves required
o 1.20 DSCR minimum (vs. 1.10 DSCR for U.S. citizen or permanent resident)
o 7.65% 30-year fixed for 60% LTV cash-out

Hi Nate, thanks for this and appreciate it! I have sent you a mail with the property details. Pls let me know if you have received it.

0 Votes

Quote from @Chris Seveney:

Quote from @Usha Nanthini:

Quote from @Chris Seveney:

Quote from @Usha Nanthini:

Hi Guys,

I am reaching here for some help. I am in search of a hard money lender who can work with foreigners who invest in U.S properties. I have spoke to some and the rates that they are providing for a foreigner is around 9% to 10% which is way too high and it is not going to help my properties cashflow. I need a lender who have worked with foreigners without any credit score and can provide reasonable rates for a DSCR loan. Pls reach out to me if you have any recommendations! Thank you in advance!

Regards

Usha

9-10% I would be jumping at that all day long. Most HML today are 12+

I am not asking for private money lenders who offers 12%. I am looking for hard money lenders with 30 year fixed loan. The current market rate is 7% to 8%. 10% seems way too high.

Thats not a hard money lender but a non-bank lender. You could go to Easy Street, Kiavi, Lima One etc. You may be able to find DSCR loans but being out of the country will make the loan riskier and thus a higher rate.

What I am saying is if you can get anything under 10% be thankful.

You are out of the country and have no credit score. Unfortunately as a lender that is a huge risk. You will not get the same rate as someone here in the US with an 800 credit.

Thanks for the recommendations. Will try. Yeah its hard to get loan providers as a foreigner. I am more than happy to provide my Singapore credit rating though if that helps. Not sure why that option is not provided. The property is a collateral to the loan anyways so I don't understand why the hesitation to provide a loan. I can take some degree of increased rate for foreigners but 10% and above seems way too high and do not make any investment sense at all. Just my 2 cents.

1 Vote

Quote from @Chris Seveney:

Quote from @Usha Nanthini:

Hi Guys,

Regards

Usha

9-10% I would be jumping at that all day long. Most HML today are 12+

I am not asking for private money lenders who offers 12%. I am looking for hard money lenders with 30 year fixed loan. The current market rate is 7% to 8%. 10% seems way too high.

0 Votes

Hi Derek, I have sent you a mail. Pls confirm if you have received it!

0 Votes

Quote from @Derek Brickley:

Hey Usha,

Not hard money, but have worked with foreign nationals in the past and really your terms vary a lot based on your situation and what sort of properties you’re looking at and where. Would you be able to expand on the deals and market you’re looking for, just to see if what we do could even help in the first place?

Hi Derek, good day! Thank you for the prompt reply. I currently own 2 properties in Columbus, Ohio and looking to re-finance them so I can purchase more. Is this something you can help with? Thanks in advance!

Regards

Usha

1 Vote

Hi Guys,

Regards

Usha

3 Votes

Quote from @Remington Lyman:

Quote from @Usha Nanthini:

Hi Remington, Do you mind sharing the list with me too. I am currently looking for a trusted contractor in Columbus too.

Yes! Will do

Thank you so much! Appreciate it!

1 Vote

Hi Remington, Do you mind sharing the list with me too. I am currently looking for a trusted contractor in Columbus too.

1 Vote

Quote from @Alfath Ahmed:

Quote from @Usha Nanthini:

Hi I am an out of state investor looking to do BRRRR delas and currently looking to build a team in Cincinnati. Would greatly appreciate if you have recommendations for tried and tested general contractor/rehab specialist in Cincinnati. Will be great if there are recommendations for realtors and property managers too. Thank you in advance!

I have some contacts in Cincinnati that I can share with you. Most out-of-state investors that I know like to invest in Columbus. Are you seeing better deals there?

Hi Alfath. That will be great! I am currently actually investing in columbus and looking to expand to cincy too. I see that you specialise in columbus. Will be great to have an intro call. Will PM you.

1 Vote

All Forum Posts by: Usha Nanthini

Usha Nanthini has started 4 posts and replied 16 times.

Post: In search of Lenders who can work with foreign investors

Post: In search of Lenders who can work with foreign investors

Post: In search of Lenders who can work with foreign investors

Post: In search of Lenders who can work with foreign investors

Post: In search of Lenders who can work with foreign investors

Post: In search of Lenders who can work with foreign investors

Post: In search of Lenders who can work with foreign investors

Post: Contractors in Columbus

Post: Contractors in Columbus

Post: Looking for general contractors - Cincinnati