Tag: Canadian

Canadian businessman picks Florida for high rental yield

Post author By Premela R.
Post date September 2, 2021

The Client

Our client purchased a 4-bedroom single-family home in Florida, intending to fix and flip it. Being a Foreign National made it difficult for him to find a lender who would finance a fix-and-flip property.

How We Helped

His lack of U.S. credit made it hard for him to find a bank to lend to him. Using AM Fix-’N’-Flip program for Foreign Nationals, we were able to use his local credit, and the client was able to get a loan amount based on the ARV. Within a month, the deal was closed. (Also see Can a Canadian Buy a House in the USA?)

Loan Details

Nationality	Property Value	Loan Amount	ARV	Rate
Canadian Citizen	$750,000	$487,500	65%	7.25%

Term	Address	Property Type	Purpose	Loan Type
18 Months	Orlando, Florida	Single-Family Home	Fix-and-Flip	Residential

Tags Canadian, fix-and-flip property, local credit, Self-employed borrowers, single-family home in Florida, us residential mortgage

Canadian Professor purchases Fix-and-Flip property in Texas

Post author By Premela R.
Post date September 2, 2021

The Client

Our client was a university professor living in Canada. He found a property in Texas that needed some repairs and wanted to take advantage of the low purchase price with the intention to ‘Flip’ it. The property being situated in a good neighborhood within close proximities to good schools and several amenities, convinced our client that he could successfully flip it.

How We Helped

Being a Foreign National caused several problems for our client as banks could not lend to him. After several rejections, our client was referred to us by a lender. Using AM Fix-‘N’-Flip loan program, our client purchased the property for $200,000, and we were able to secure a short-term loan amount of $195,000 based on the after-repair-value (ARV). (Also see Can a Canadian Buy a House in the USA?)

Loan Details

Nationality	Property Value	Loan Amount	ARV	Rate
Canadian Citizen	$200,000	$195,500	65%	8.25%

Term	Address	Property Type	Purpose	Loan Type
18 Months	Fort Worth, Texas	Single-Family Home	Fix-and-Flip	Residential

Tags AM Fix-‘N’-Flip loan program, Canadian, canadians looking to buy us home, take advantage of the low purchase price, texas property, Texas real estate

Canadian doctor in Vancouver buys condo in Atlanta for rental income using 1031 Exchange.

Post author By Dipti K.
Post date February 8, 2021

The Client

Our client from Australia came to us online and wanted to look for low-cost residential housing to earn investment income. They like the Midwest cities due to their low entry point.

How We Helped

Given the capital tax implications of selling, we suggested using a Tax Program called “1031 Exchange,” which allows property owners to swap one investment property into a more expensive one, which allows capital gains taxes to be deferred. They reviewed this option with their tax advisor and were able to roll the gains into the new purchase allowing them to buy a nicer property located in a better school district that equated to higher rental yields.

We found the client a very competitive foreign national mortgage, and they were able to take advantage of this Tax Incentive. (Also see Can a Canadian Buy a House in the USA?)

Loan Details

Nationality	Property Value	Loan Amount	LTV	Rate
Canada Citizen	$480,000	$264,000	55%	4.750%

Term	Address	Property Type	Purpose	Loan Type
5/1 ARM	Atlanta, Georgia	Single-Family Home	Purchase	Residential

Tags Canadian

Canadian investment fund purchases hotel in Texas.

Post author By Dipti K.
Post date January 19, 2021

The Client

Our client was referred to by a developer in Houston, Texas who we worked with previously. The client is a Canadian real estate investment company looking to purchase a hotel as well as in Houston, Texas. Due to the covid-19 impact on the hotel industry, the borrower was able to secure a very competitive price on a non-flagged hotel property in the U.S.

How We Helped

Due to Covid-19, almost all lenders are on pause with hospitality finance requests, due to the inherent risk of the hotel industry and travel being shut down/limited around the world.

Our client was able to utilize a Bridge Loan to secure the purchase of the property. Once the Covid situation improves and travel opens back up, the borrower will refinance with a traditional longer term commercial loan. With the discounted purchase price, the more costly bridge loan for a few years made sense. (Also see Can a Canadian Buy a House in the USA?)

Loan Details

Nationality	Property Value	Loan Amount	LTV	Rate
Canada-based Investment Company	$3,100,000	$1,550,000	50%	8.99%

Term	State	Property Type	Purpose	Loan Type
2 years with possible extensions	Houston, Texas	Hotel – Non-Flagged	Purchase	Bridge

Tags Canadian

Canadian real estate investors eye California for higher-yield returns.

Post author By Premela R.
Post date January 3, 2021

The Client

Our client is a Canadian attorney and real estate investor looking to shift his real estate portfolio for multi-family U.S. property in California for retirement income. The property is a three multi-unit home in Venice Beach (2) and Long Beach (1), California, with net yields of 16%.

How We Helped

To secure the yield needed, the client required a mortgage below 5%.

Although the client earned excellent income and was an experienced real estate investor, the lack of U.S. credit created issues each time he approached a California bank or broker for financing.

As AMFNLite Program allows the borrower to use a “local” credit report, it solved the issue of not having U.S. credit. The rate required was merely an adjustment in LTV, giving the borrower a fixed rate on each property below 5%. (Also see Can a Canadian Buy a House in the USA?)

Loan Details

Nationality	Property Value	Loan Amount	LTV	Rate
Canada Citizen	$4,200,000	$2,500,000	60%	4.35%

Term	Address	Property Type	Purpose	Loan Type
3/1 ARM	Venice Beach, California	Single-Family Home	Purchase	Residential

Tags Canadian