Updated over 1 year ago on . Most recent reply
smaller loans for foreign investors
Hi. I am a foreign investor, living in France. I would like to purchase several properties in Toledo and Detroit and would need several smaller loans to purchase properties at around $75k. I am finding it a bit difficult, as most lenders would not consider loans <$100k. Is there anyone who would consider this type of loans?
Thanks very much in advance.
Most Popular Reply
MINO lending out of Metro Detroit does them but your LTV is going to be 65% (I believe).
I agree with @Drew Sygit though. A $75k property is not something you want to own unless you're planning on doing work to it.
5 years ago... sure. But prices in Detroit keep moving higher and you don't want to fall into a D Class money pit.



