HI guys,
What does everyone think about accessing a loan via a private lender? I am unable to travel across to the States to personally set up a bank accounts etc so will have to do everything remotely. LLC is in the process of being set up and with banks not lending to either a)foreign investors or b) under LLC, private lenders may be the way to go.
Has anyone else gained finance this way? If so, able to provide any feedback on how you bargained your loan terms and interest rate charged?
hi edmund
the private funding in the US is expo its up around the 15% when you are getting a 20% return that makes the margin slim
one of my groups am not investing direct into the USA and its not for a board but buy remote is a bit risky as you don’t know what you are buying
their system is a bit different then to here and a few have been caught buying some thing that was different then was in reality
there is only two ways to buy for me
cash
or card creditEdmundSt wrote:HI guys,What does everyone think about accessing a loan via a private lender? I am unable to travel across to the States to personally set up a bank accounts etc so will have to do everything remotely. LLC is in the process of being set up and with banks not lending to either a)foreign investors or b) under LLC, private lenders may be the way to go.
Has anyone else gained finance this way? If so, able to provide any feedback on how you bargained your loan terms and interest rate charged?
Hi EdmundSt,
You don’t need to go over to the USA to set up LLC bank accounts, it all can be done from here, you need an accountant, attorney.
As far as getting finance , you would need tp own a property to establish a credit score just as you would here.
I have heard of locals getting finance but my partners in the USA say that it is almost impossible for foreigners to obtain finance
Jeff
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