Overcoming Obstacles for First-Time Investors
The rental portfolio loan program is a great solution for tricky investment property scenarios.
Our clients, two ambitious foreign nationals from Argentina, set their sights on breaking into the U.S. real estate market. They discovered three promising single-family homes in Fort Pierce, Florida, and were eager to invest.
Despite being non-U.S.-citizens and facing ineligibility for traditional bank loans, their determination remained unshaken. Adding to the challenge, the properties had recently been renovated but were still without tenants.
Rental Portfolio Loan Program to the Rescue
Undeterred, we secured approval for a portfolio loan encompassing all three properties in a single transaction. The lender confidently underwrote the deal using a pro forma approach, projecting and anticipating the properties’ potential cash flow once occupied.
Navigating COVID-19 Restrictions
With COVID-19 restrictions in place, our clients were unable to travel from Argentina to Florida for signing the loan documents. Moreover, the U.S. Embassy in Argentina had no available notary appointments. Resourcefully, we arranged for a remote video notary, enabling our clients to close the deal without leaving home.
Real Estate Opportunities for Non-U.S. Citizens
Are you a non-U.S.-citizen eager to invest in or refinance U.S. real estate? We’ve got your back. Contact us today to explore our specialized home loans for non-U.S. citizens in Florida.
