Hi thereI'm a South African currently living in the Cayman Islands looking to get into the US market.As a non citizen / non resident I am struggling to obtain 30 year finance at decent rates in the US.I am investigating the possibility of using finance from back home to cover the cost of a unit, then refinancing in the US to squash the mortgage back home and effectively backdoor finance in the US.Does anyone have any experience with this, and have any comments in whether US banks may be more willing to provide refinancing to an already purchased asset held by a foreigner?

Maybe a portion, but most is held in escrow and released based on completion with inspections needed for a draw.If the repairs aren't completed as stated, then the money may not be released.If the borrower defaults on the loan, the lender may still have funds left to complete the rehab.Hopefully that helps...

(Turns out same with PenFed) Property has to be held in your name(s).

I am looking for more buy & holds in my market and looking for a community where I can learn and be held accountable to push me to becoming a better investor.

You have two active exchanges now so you complete those two exchanges by purchasing the property held by the EAT (the parked property in the reverse). 

The large corps / institutional investors behind those buildings don't have flexibility on price due to their construction costs,   while anybody who has held a building for even 5 years around here can if necessary reduce rents a bit to keep things occupied if necessary and stay in the black.  

@Justin BrownWhere are the meet ups held I would love to attend

Note; Under any/all move out option(s) A, B and or C, resident will be held financially responsible for all cleaning and damages in accordance with the lease and is required to pay all rent, utilities and other obligations even if moved out before a new resident is found or end date of lease.

Does anyone have any recommendations for lenders who will do cash out refinances for single family rentals held in an LLC?

All it takes is one person complaining and I could be in front of the board.As a person said above, he doesn’t think sellers shouldn’t be hand held but from my own experience as an agent, I come across so many people every day that don’t understand real estate transactions, so I’m sure wholesalers comes across many, many people who are like a deer in headlights when you are talking to them about selling their house and putting a contract in front of them to sign.