Family Builds New US Investment Property Portfolio
| Client’s Country of Origin: | India |
|---|---|
| Current Visa Status: | EB-5 Green Card Holder |
| Loan Purpose: | Purchase of Rental Property |
| Location: | Richmond, Virginia |
| Amount Sanctioned: | $350,000 |
| Interest Rate: | 4.5% Interest Rate 30-Year Term with Flexibility to Refinance at Any Time |
| Collateral to Lender: | The Purchased Property |
The Client’s Story:
This investor, an EB-5 Green Card holder, wants to build a real estate portfolio of investment properties and has identified a new property that was under construction. He faced challenges in obtaining a loan from traditional lenders, since most do not issue rental property loans unless the property has already been rented for at least six months.
By working with our lending partners, we were able to have the property re- categorized as an investment property that was sanctioned as “in-process
of renting”. This allowed our client to qualify for a rental property purchase loan, which also provides the ability to refinance the property as soon as six months of rental history is obtained.
The client is proceeding with the purchase of additional rental properties.
