Hi all,
Just wondering how easy or difficult it would be to get finance in Australia for a North American property?
Has anyone experienced problems in this area?
Minxii
I dont have experience but would like to know as well.
I would have thought you would need to come up with a 20-30% deposit and then find finance in Nth America.
My wifes family is in Canada and we would like to buy there one day or in the US in a town near the US/Canadian border.
Hi,
why don’t you try an internet search for brokers in the US, and then contact them to see what they say about OS investors in the US?CD
Castle Dreamer
(You’ll never go wrong if you never go anywhere – have a go!”
Institutional lenders may finance an offshore investment if the loan is secured in Australia.
Likewise, if you intend financing a property in North America, the loan will need to be secured in North America – unless a freehold acquisition.
In terms of the United States, you generally require US residency or citizenship in order to acquire real estate via an institutional lender.
— Michael
Thanks everyone [smiling]
The reason why I am asking is that we’ve bought a house in Victoria but being that my husband is Canadian, he was wondering how difficult it would be to purchase a rental property near his family.
I will definately have to look into our options later on down the track (ie. IP’s in Aust, NZ or Canada) but this has given me food for thought.
Minxii
Originally posted by Michael R:Institutional lenders may finance an offshore investment if the loan is secured in Australia.
Likewise, if you intend financing a property in North America, the loan will need to be secured in North America – unless a freehold acquisition.
In terms of the United States, you generally require US residency or citizenship in order to acquire real estate via an institutional lender.
— Michael
So Micheal we can’t buy property in USA ( by getting loan) if we don’t have residency or cash to buy the property there?
Cheers
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PropertyGuRu
[sultan]The average foreign investor will find it difficult to secure a loan in the United States through conventional channels – without a resident status.
Foreign investors can acquire real estate in the United States i.e. via an equity loan in the investors country of origin, or with cash reserves.
Alternatively, foreign investors can establish a corporate subsidiary or other entity i.e. in partnership with a [trusted] US citizen/resident and conduct acquisitions in this capacity.
— Michael
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