Refinancing a balloon as a foreign investor
I have an opportunity for a seller financed deal on a triplex. The seller naturally once the property on a balloon payment after 5 years (92k, I think i can bring it down to 80k but that's another story).
How would I go about doing that without a traditional lender? And if a private lender can help, how would that work?
I can imagine after paying property taxes for 5 years there must be some kind of leverage with a traditional lender in obtaining a refinanced loan?
This would be my first deal btw so I am trying to make sure my strategy is correct. Im also only interested at getting more than 10% cash on cash return from rental.
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Hi Guys.
I see the conversation aged a bit already, but I am just in the same situation and thinking of the possibilities.
@Ess Dee, How did the deal end up? Did you buy/finance/re-finance some other properties?
@Lucas P., What do you mean: to get SSN for Foreigner? I am digging around but I have not find any mention about that this would be possible. We just based LLC and I am applying for ITIN and EIN right now...
Thanks Peoples :)