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Tracey B.
  • Real Estate Investor
  • QLD
5
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67
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Seeking US commercial lender who accepts Australian security

Tracey B.
  • Real Estate Investor
  • QLD
Posted Aug 3 2008, 10:44

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?

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