Seeking US commercial lender who accepts Australian security
I'm interested in purchasing a multi-family, $2M, > 80 doors, cap rate 10%. I have no SSN, no FICO - nothing in the USA yet :cry: But I believe I can get a 70% LTV no-doc commercial loan on the strength of the asset and the rental income, which is a great start.
I'd like to borrow the entire $2M, not just the $1.4M, and I have an associate who is willing to offer up his equity in an Australian commercial property to secure the entire loan.
So, if I can offer $3M of security - being the $2M US (Texas) multi-family, and $1M of equity in an Australian commercial property - are there any lenders out there who'd be willing to lend the $2M needed for the Texas purchase?