U.S Financing : Private or 401K Financing

saviovaz

New Forum Member
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I have been investing in U.S rental properties and would like to continue along this path. The increased costs with the Cdn/ U.S currency exchange I'm turning my attention to private financing in U.S funds.
Would be very interested in finding out if anybody can share their experience in getting U.S private financing, 401K or interested in Lending.
 

Thomas Beyer

Senior Forum Member
REIN Member
Loads of options. Far more choice than in Canada. Many honest and even more dishonest lenders, brokers and loan sharks.

Why not get a regular mortgage ?
 
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saviovaz

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Thomas , your input is greatly appreciated. I explored the mortgage angle with a couple of brokers and upon reviewing them them further the cost of borrowing was very high once the fees were added. The loan to Value % were lower around the 60%-65%. Then I wondered if the the appraisals would have been made more on the conservative side driving the amount borrowed even lower increasing the costs to borrowing. Perhaps , I need to be connected with a few good honest lenders. If you could assist me in this area that would be amazing!
 

Thomas Beyer

Senior Forum Member
REIN Member
What asset is this ? Where ? What rent ? Who is the legal owner ?

If single family generally a Canadian gets lower LTVs than an American, and as such your Canadian bank such as RBC or HSBC or a LOC on your Canadian home is far better and far cheaper.
 

saviovaz

New Forum Member
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Mainly single family dwellings and have applied the Canadian LOC approach. Require further funding to expand that's why I was thinking of the 401K if that works lie the Canadian RRSP mortgages
 

atcanada

New Forum Member
REIN Member
RBC, TD and BMO US bank are available to get mortgage for Canadians using Canada income and credit, the rate is OK, but only limited to 4 rental properties in personal name.
B2R can provide portfolio loan, but the start loan is 300k minimum.
Thanks,

Adam
 

saviovaz

New Forum Member
Registered
Thanks Adam. Would you or anybody reading this tread be able to provide me with a contact name at any of these banks or B2R. you can also email me savio@saviovaz.com or call me 416-618-3008. Much appreciated!
 

JROC

Inspired Forum Member
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Google Express Capital talk to Eric Lynch I have used their services for 3 properties in the USA.
 

saviovaz

New Forum Member
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Thanks so much Jroc ! will do. If any other members have a contact would be greatly appreciated too
 

JROC

Inspired Forum Member
Registered
Thanks so much Jroc ! will do. If any other members have a contact would be greatly appreciated too
I currently have used Washington Federal and Arizona Bank. All 3 properties are rentals and the LTV was 65-70%.
What market are you currently looking into? SFH? Multi?
 

saviovaz

New Forum Member
Registered
I have explored a couple of brokers and discovered that the LTV are more on the conservative side albeit it 65-70% LTV . When the fees are added seems to be around the 7.5%-8% area. I have 3 SFH, 1Tri & 1 that I'm working on right now. Did try reaching out to your contact , no luck yet..he may be on hoilday
 

Chris10010

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We are a USA Private Money Broker. When the banks say no, call us.
Please see attached.

Kind Regards,
Chris Petitclerc (Real Estate Investor)
Oakmont Real Estate Investments
info@oakmontinvestment.com
Canada: 1-403-919-0689 USA: 1-401-859-1622 Fax: 1-401-859-8033
 

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