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  • Profile photo of RELREL
    Member
    @rel
    Join Date: 2005
    Post Count: 1
    August 5, 2011 - 4:49 am
    KeysToSuccessClub wrote:
    Hi there,

    I have manged to get 3 loans in the US in the last 6 months all based off my Australian credentials, but with US banks.

    In Memphis I have two $25k loans – 50% LVR. 7 years P&I at 8.75%.  Still well  positive cashflow after all expenses.  Process was pretty painless.

    Florida was a bit trickier and they wanted lots of documentation, but managed to secure a 60% LVR – $50k at 5.25%  P&I with 30 year term.

    It does vary by state so if you are looking at getting leverage into your US property portfolio, you need to take this finance side into account.
    So far no dramas…

    Cheers

    Hi Mark

    I would be interested to know what bank in Florida you used to get the mortgage. I have a house in Orlando that I paid cash for which is tenanted. I would like to buy more. I have inquired with many banks in Florida that have told me it is very difficult to get a mortgage unless I actually go there in person to set it up.

    Thanks

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