Securing Financing in Mexico through Non Traditional Avenues
I have always lurked in the forums and articles of BP, this is my first post.
I invest in single family in Mexico, specifically Cabo San Lucas and run them all as vacation rentals through Airbnb/ VRBO and some longer term vacation rental as well. Everything that I have bought up until this point has been purchased as a cash deal, or short term seller/developer financing. Financing through Mexican banks is an option but not an appealing one as rates are in the 9-15% range for a typical mortgage. Mexico is not the most credit friendly society no matter how good ones credit profile and creative financing of any kind is something that is not readily available as of today.
I am looking for creative ways to finance future purchases. Is anyone familiar with American banks, investors that finance foreign transactions? The one thing that is advantageous moving forward and which may inform your answers is that I have a ton of equity in everything that I own here, because of how I have been forced to purchase. I know from asking, that using my existing properties as collateral on a loan in the states is unlikely but perhaps somebody knows a creative way to accomplish this. I am an American citizen with little credit history in the states, I moved to Mexico right out of university and have lived my entire adult life here. Thanks for any input you all have, I am happy to provide more information if needed!