I am a non resident alien in the US but a Canadian resident. I went to college here in the states and just I graduated this last May 2006. I got a job and now work in the states, Maryland to be precise.
I recently decided to get into real estate and I fancy getting in rehabs and distressed properties where I fixup and rent or rent-to-own. I would only sell if the markets gets better but now I am more concerned with increasing my net worth.
Now for the crux of the matter. I need to find a renovation loan program with a financial instituation that will still be willing to loan me the money even though I am non-resident alien.
Does anybody here know of such a place or have been through my situation before?
Is it okay to get a non federally fund owner occupant renovation loan and immediately after renovation rent it out, especially to section8 (housing voucher) renters
Hard money lenders will fund your rehab projects. The loans are short term so you would need to have a lender set up who can do the refinance of that loan. Mortgage consultants who specialize in investment loans should be able to assist you.
Hi Ben, I went to your website and saw some remarkable loan programs, I worte you an email and also call you. Looking forward to hearing from your so we can set up an appointment to figure out the right loan program to suit me best.