International Investor and Credit ratings - Posted by Freddie

Posted by Bruce Lawson on February 13, 2002 at 07:34:31:

Hi Freddie,

You might want to contact a bank in CA and apply online for a credit card from them this will get you started establishing credit in the US. Your international credit rating should follow you as long as the American Dollar is traded in the UK. Another option you have is to contact all three of the credit reporting companies and ask questions.


Bruce Lawson

International Investor and Credit ratings - Posted by Freddie

Posted by Freddie on February 12, 2002 at 18:46:12:


I hope somebody out there can help me please. I am a U.K. investor who will be moving to CA in 18 mths time. But before my arrival I wish to invest in a couple of apartment units in west LA, each worth say about $1.2m each (LTV 70%), through a CA corporation.

I wonder which lenders an international person like me should approach? The problem being of course that I have no credit ratings and I don’t think international credit ratings exist or are any good! (of course I never tried myself - don’t know where to start!).

My bank in the UK, the Royal Bank of Scotland, is a 100% British bank. They put me in touch with Bank of America in San Francisco but I later found they only use BoA for correspondent banking and they don’t have any relationship!

I have good references from UK banks and have good credentials so I don’t think I deserve hard money route! With cap rates so bismal in West LA it will not justify financially in any case!

Ideally I will look at the buildings being the only collateral but at 100% first and only charge and servicability being relied only on the net rental income.

There must be bankers out there for my case. If you are one or know where I can go please write to me. I really appreciate your help and thank you in advance.

Kind Regards

Re: International Investor and Credit ratings - Posted by Bruce Wilson

Posted by Bruce Wilson on February 16, 2002 at 13:53:19: