Foreign Mortgage on a RE portfolio for a US loan
Hi Everyone,
First of all, I'm relatively new on BP and have been passively following posts on this forum, excuses if the question I pose has been addressed earlier already.
I'm in the process to start an LLC, which is a joint venture between my business partner and myself. We're both Belgian citizens and non-immigrants in the US and lacking an SSN therefore also lacking any kind of credit score. I'm mostly based in the US under a E2 visa (in process, currently just business) while my partner remains most of the time in Belgium. Our goal is to build a buy-and-hold portfolia, acquiring properties through tax-deed sales, HUD's and other sources. We've build up a significant process to screen properties on a wider scale and are soon willing to start our operations full swing.
However, we intend to use several million EUR or mortgage-free properties in Belgium to leverage in the US and therefore we need to find bankers who are willing to accept foreign mortgages.
Does anyone has experience with foreign mortgages for local (US) loans.
Does anyone has any suggestions on which lenders/companies/brokers to contact (thus far I just started contacting hard money lenders-type of financiers and a few bankers, in my network)
Are there any pitfalls to pay attention to or caveats to look out for?
Thanks in advance