Verifying information - overseas investor
Hello all!
First time poster, but I have been following the forums for a while, as part of my education. I am now a bit of an addict, and looking to know enough to post my own information. To give some background, I am a foreign resident looking to invest in the US real estate market. I have been doing lots of reading up about Tax and other issues, as well as trying to locate a market.
I have a few questions, but I will start with this one, because its critical. I have been informed that as a non US resident, I am not able to obtain conventional finance. Could someone confirm this?
The same source offered their private lender, at rates of 7.25% for 2 years and then increases to 12%. This seems quite high, so I was wondering if someone could confirm this?
Thanks Guys