New Investor, Hit a Wall
I've been on BiggerPockets for years now, listening to the podcast and reading forums. But I feel like I have hit a wall.
A little bit about me, last year I purchased a duplex in Oklahoma City, I live on one side and rent the other. It was my first home purchase and I used an FHA loan.
I'm trying to make my next investment but I'm having trouble finding the financing. I've applied for lines of credit and loans but have been denied due to my debt to income ratio. I thought it would be a good idea to do a flip or two to help lower my debt, but I'm having trouble getting approved for any loans to do that.
So my question is, if you were in my shoes, what would you do next? I don't believe I have no options, I just don't know what those options may be. If you can help me out it would be very much appreciated! Thank you.
Most Popular Reply
Find a partner who can get the financing. It start with networking and letting everybody and their mama know you're an investor. Also, OKC has to have a reia, look into that, if not start one.
Take this time to re evaluate your goals and strategy! You got this Eric. Best of luck