All Forum Posts by: Magnus Wikström

Do an unsecured credit line based on your cashflow of the business.

Hi @Anthony Gallagher,

Yes, second position mortgage is perhaps the best idea, but will only give you about $200k, if that's enough for your project.

@Sam Brock,

Nice deal.

1. Should be no issue. This is quite a normal deal for a lender, your numbers are good.

2. Yes, do DSCR. Separate mortgages.

3. You don't consider selling the properties at completion instead? Depends on preferences and net yield.

With this type of deals, you're not interested in building for investors, doing more projects? 

@Fara Heath

Cool deal!

@Simmy Ahluwalia

You've got the numbers pretty much above. What else do you need?

@Simmy Ahluwalia

at 80% LTV?

Hi @Garry Miller,

I think it sounds doable. I'll send you a DM and maybe we can set up a call for after Easter.

Hi @Oleg Kosyachny

Glad to be of help!

I just now, after extensive searching was able to set up a bank account. We used Wise before that if you're familiar with them? But they've become a problem when it comes to setting up unsecured business financing / working capital, so now switching to a proper bank.

Regarding FIRPTA - My experience is that this is only a withholding if you buy individually, not in a US entity.

What you should check however is that your country has a tax treaty with the US, so you are not double taxed in both countries. I was actually reading Sweden's with the US right now.

Regarding the Corporate Structure, I'm not entirely sure as I'm not sure of your particular situation. I think it may also depend of ownership structure. But we're doing it in LLC's which is working well. We're 2 owners so we're taxed as a partnership, which basically means it's passed on to us as individuals, which simplifies things. I think most operate through LLC's, and we're choosing to do the projects in SPVs / SPEs, where I'm assuming you're going for something similar. Do you have US Visas?

Hi @Judah Zuckerman,

Do you do short term stabilised bridge loans for SFR?

@Erik Estrada,

- No US credit score
- It's a cash out refinance - a stabilised bridge
- Mortgage $172.000
- Liquidity of +$250.000

I'll give you the address upon confirmation from the above.