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My experience with refinancing US properties with out of US investors is that I have assisted with the process as their property manager with a local lender. The lenders know the majority of the funds stay local and only the profit goes elsewhere. It is much more comfortable for a lender to lend on something they can put their hand on then something they've never seen. Local lenders are more willing to lend. This has worked well on several different occasions. We know the lenders and the lenders trust our information on the properties we manage, so they are willing to hold paper on those properties for clients who live anywhere really. I hope this helps.
How many unit are you purchasing? How will you hold ownership in these properties (personally, LLC or other)? What types of properties are you purchasing and how long do you plan on holding on to them? Just need a little more info to properly give my opinion. Thanks!
I am a Commercial Real Estate Broker from Michigan US and it is very risky to invest in areas youare not aware of or you do not have a good contact in. There are handfulls of properties in the Detroit area that you couldn't pay me to buy or sell to someone. This is no different in any other city large or small throughout the entire US. Please be careful when investing overseas. Thank You!
Bec,
We have several clients who live out of the US and we often generate a partnership as an LLC for properties they own. Since we already have a close enough relationship because of us managing their properties, this just makes things alot easier for both parties. I hope I could help!
