I have a group of Canadian investors looking to purchase and rehab properties in NY. They are Canadian citizens and residents, no US addresses, bank accounts, or US credit. They are looking to finance in a Corporate name, will be financing the purchase and improvements with their own cash, and will be looking for 50-60 LTV cashout from the properties after the repairs are complete. Anybody have any suggestions?
We do these all the time. We lend on equity and hard assets, typically up to 65% LTV.I’ll look at the properties individually or even together as a blanket, but we do this type of financing all the time at rates as low as 7.9% at 65% LTV.