Borrow against Stocks/Brokerage on a Visa in the US?

[Chinmay N.]

Hi, folks,

First off, thanks to BP and friends, I've gotten my first REI property under my belt. Thanks y'all!

As I'm moving forward to my next deals, I'm exploring different financing strategies. I'm not a US citizen or a permanent resident yet, I'm in the US on a work visa. I am talking to hard money lenders but setting up an LLC with my immigration status is a work in progress (any tips on Creative Financing what don't need an LLC to lend are welcome).

My question is about borrowing $$ against your stock portfolio to fund your projects. A lot of brokerages like ETrade, M1Finance, etc. Allow you to borrow $$ against the value of your stock portfolio to fund your projects at pretty good rates (2.5% - 6%). However most (I have not checked exhaustively) don't allow you to borrow against your own portfolio if you're not a citizen or a permanent resident. Pretty dumb rule considering my stock portfolio is collateral. Has anyone run into this issue? Does anyone know a broker who doesn't have this limitation?