PCG Invest, which has specialised in selling rental portfolios in the US, has teamed up with B2R Finance, part of the Blackstone Group to give its overseas clients access to $300,000 mortgages to invest in high yielding US properties.
"Until now the problem has been that overseas investors have not been able to get financing for US buy to let investment. It is very exciting to be working with B2R Finance, part of Blackstone on this mortgage offer. For example, our clients will be able to buy up to eight $50,000 fully refurbished, tenanted homes, producing high net yields of up to 17% with only a $100,000 investment on their part", says Darren Brown, CEO of PCG Invest.
Darren explains a deal that the firm has just sold in more detail: "The deal was a portfolio of properties consisting of 8 buildings, with two properties in each, so 16 homes in total, costing $480,000. Each property is tenanted and the total combined income was 18% net, after management fees and all bills, but excluding finance costs.
"We facilitate the investment and do the due diligence and help the buyers set up a company in the US, because it is more tax efficient that way, and set up a bank account for them etc. We do this for our buyers because this is an industry where you can simply buy something online and then lose all of your money, if you are not careful."