Updated over 5 years ago on . Most recent reply
Need help! Financing for foreign investor is impossible.
I am a foreign national investing in multifamily in Texas through an LLC, today I have 3 properties portfolio that I have bought in cash but I want to finance to take advantage of the leverage and other benefits.
It has been very difficult to find who wants to finance this, all I have found is 60% LTV and an interest rate of 7.5% with 9 points at closing, yes 9 points. It is crazy.
Currently my portfolio without leverage has a ROI of almost 9%. If I accept this loan my ROI would drop to 8.5%. Of course, cash flow is also cut almost in half. The 9 closing points represent almost the cash flow of 18 months after accepting the loan.
If I take the loan, will I be able to create a credit history and tax return? Is this a path to better conditions in two or three years? Is it Worth it?
Please if you can help me to get a better conditions for this loan or know someone who can, please help me to get to them.