Canadian businessman picks Florida for high rental yield

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

NationalityProperty ValueLoan AmountARVRate
Canadian Citizen$750,000$487,50065%7.25%
TermAddressProperty TypePurposeLoan Type
18 MonthsOrlando, FloridaSingle-Family HomeFix-and-FlipResidential

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