@Nilo Ignacio You may want to visit your local real estate investment club. Get a few referrals on investor-friendly lenders from other real estate investors. Talk to them and check around to weigh your options. Hard money, private lenders and bringing in a partner are other options. Good luck!!
How do I find those real estate club and when they meet? Do I need to be s Reltor to go?
@Nilo Ignacio . Google REIA or Real Estate Investment Clubs near (XXX City) you are near.
Thank you found some in my area
Thinking from a banker’s perspective, why wouldn’t you take a home equity line on your personal residence? According to your valuations, the home is worth approximately twice the value of the rental property. Banks want confidence that they will be repaid and using a property with greater equity may increase your chances of an approval. Just my ‘first blush’ thoughts.
Why don’t you get a HELOC on your home ? That sounds like the best option for you now
You would be surprised what is happening in the Real Estate Industry nowadays. Since there are more and more people who are self-employed there has been an increase in programs specifically for us to buy houses. You have to get out there and network and connect with some people in your area. A first step for you is to find a Realtor and they can refer you to a lender who has a self-employed loan so you can buy a rental.
According to your credentials you shouldn't have a problem finding one, you just have to ask around.
@Nilo Ignacio You can go to meetup.com and there you type RE meetings and you will find these clubs.