I have seen many comments on the forum about investing overseas but not many answers about sucessful financing. I have been reading quite a US few books on investment propert purchase after deciding that I don't really want to purchase any more than the 2 Australian properties that I have. Finance seems to be the biggest hurdle for a non-resident in purchasing in the US. Do any of the local lenders offer a US dollar loan without using Oz properties as colateral?? I really don't want to use a "one-stop-shop" in the US where they will sell you a new product on the outskirts of nowhere as well as the finance, ie I want finace independant of the seller. Any ideas?
No Australian lender will lend on overseas properties – except maybe NZ. Aust banks based in the country of the security property may be able to help, but you generally have to be working in that country.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
OK. I realise now is not the ideal time to be asking banks such questions. Anyone out there who has managed to sucsefuly finance using a US bank even though they don't have any other ties to the US. IE never worked there, no social secruity numeber etc.
Erik
Erik
Yes i have done many deal in the US for Australian clients but to be honest most of the lenders i have dealt with are no longer with us WAMU, Alliance Bancorp, World Savings etc etc.
You wont find any lender want to do a Foreign National loan in todays climate.
Richard Taylor | Australia's leading private lender
US banks probably will not lend to you on the property.
You will need to get financing in the country you buy from or use a line of credit from another property you own in the states.
Make sure to get title insurance!
http://www.pinjra.com
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