I live outside of US, I want to borrow money to invest real estate in Los Angeles, do u know if there is any bank in LA can help me?

Asked by Unucla, Sat Jul 7, 2012

I live outside of US, I want to borrow money to invest real estate in Los Angeles, do u know if there is any bank in LA can help me?

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9
Matthew Smith, Agent, Monrovia, CA
Tue May 21, 2013
Hi Unucla, most of these answers are right you can borrow money her in California without being a citizen I have sold to clients from China that just had a visa.
The down payment is the catch, at least 30% down, but more the better and if you are going to invest you should be putting down more money, Interest will eat up you profits. The big question is where to invest in Los Angeles, right now the market is on fire and investors are paying top dollar for property, we are just about back at 2005-2007 prices in some area's. I would stay away from those area's now and concentrate on where your investment dollar would make you the most money. Contact me if you want my expertise in investing. Thank You Matthew Smith
0 votes
Shahe Seuyle…, Agent, Pasadena, CA
Tue Jan 8, 2013
Are you a US Citizen ???? , if yes you can buy
0 votes
Mardelli Real…, Agent, Pasadena, CA
Mon Nov 26, 2012
Yes it is possible. I have sold several homes o clients who live overseas. I do have a great lender to recommend if needed as well! 818-400-3794

Thank you and good luck!
0 votes
Jenny Durling…, Agent, Los Feliz, CA
Fri Nov 16, 2012
Your best bet is to borrow the money in your own country and pay cash here. U.S. lenders will require a very large down payment and alot of red tape if you don't have a U.S. Tax ID or credit report.
0 votes
Jim Walker, Agent, Carmichael, CA
Sat Jul 7, 2012
If you have been filing and paying United States income tax, there are a few lenders, who will loan to you. It is not easy to get an institutional loan as they will want to document your loan to death.
Alternatives to bank loans are: 1. Cash. 2. Owner finance 3. Hard money lenders 4. Private lenders 4. Personal loan, or 5. business loan on some collateral other than real estate.
0 votes
The Emamian…, Agent, Pasadena, CA
Sat Jul 7, 2012
My experience has been the same as what Jenny Durling is describing. The foreign investor/buyers that I have worked with all wired the funds from their home country. They either pay cash or borrow the money in their own country. Without proof of US citizenship, or at the very least, proof that you are paying taxes here, it is pretty tough to borrow money in the US. Good luck, I hope this helps.
Web Reference:  http://www.dreamhomelink.com
0 votes
Jenny Durling…, Agent, Los Feliz, CA
Sat Jul 7, 2012
It is my understanding that a US tax ID, green card or visa is required on top of the large down payment. Most foreign investors that I have worked with arrange for financing in their own county and then pay cash for property here.
0 votes
Lance King, Agent, San Francisco, CA
Sat Jul 7, 2012
HSBC is the only bank I know that does loans for foreigners, but they usually require 50% down. If you can get one with 30% and the rates are ok, do it.
0 votes
Ludy Ivonina, Agent, Corona, CA
Sat Jul 7, 2012
Hi, if you have 30% down-payment it could be available for you.
Please contact me at Ludy@tarbell.com to see if I can help you.

Thanks.
Ludy Ivonina-Ortiz
Tarbell,Realtors
0 votes
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