Episode 4: Finding Finance to Fund USA Properties
In the series so far we considered the risks and rewards or investing in property overseas, we’ve talked about the things that we need to ‘be aware’ of as expectations and processes can differ considerably between counties and countries. We’ve talked about the differences in our language between America and Australia and how to understand those differences to ensure we communicate effectively.
So if you’re eager to buy and feel more prepared to take action with the information you’ve received, there still may be one big hurdle you need to overcome…. do you have the cash!? And how much do you need?
This month (8th June) Rachel interviews an experienced and certified Mortgage Planner from North Carolina who can answer all those burning questions most investors have, about how to get access to ‘decent priced’ loans to leverage their cash to build bigger and better property portfolios.
Listen in as Rachel introduces you to Brad Roche of McLean Mortgages located in beautiful Mooresville, North Carolina. Brad is a Mortgage Planner and has been helping clients with home ownership for over 20 years. He has extensive experience in mortgage lending, real estate negotiations, construction, developments, investment properties, cash management and budgeting.
Brad was awarded Top 1% of Loan Originators in America. His planning and expertise helps his clients save thousands over the time of their loan term. He prides himself on taking great care of clients during and after the loan process so they are comfortable referring friends, family and co-workers year after year!
In this episode – Discover the 3 basic things you need to do to meet the lenders criteria so that you can leverage property in the USA.
Listen in and Learn the answers to these questions and more …
- How Non Residents can borrow in the USA to purchase property – and to renovate it!
- Should you borrow as an LLC or in your personal name?
- Where should you apply?
- What sort of criteria do we need to meet?
- Do Aussies need to build up a credit score first?
- How do you do that ?
- What score do you need?
- Can you find out what your score is – and is it wise to ask!?
- What sort of Loan to Value Ratio can you expect?
- Is there a minimum property value or loan value required to meet the criteria?
- What sort of interest rates would you pay?
- What sort of terms are usual?
- If we fix a loan there do penalties apply to pay off the loan?
- Who’s the best person to contact if you want to ask about your own personal circumstances…. Guess that would be Brad!
http://www.bradrochemortgage.com
Plus we welcome back : Salena Kulkarni – www.uspropertysplash.com
You may remember that Salena has been a chartered accountant for over 15 years…
Throughout her career, she has actively been involved in real estate investing and development and her interest in the US residential real estate began in 2008. Shortly after that, she began investing in the market herself.
Her structured approach to investing in this market has led her to become a national speaker in Australia and a leading authority on US property investing in the current climate. During 2009 and 2010, Salena supported many Australian in purchasing US real estate.