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Updated almost 11 years ago on . Most recent reply

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Tony Fowler
  • Real Estate Investor
  • Presidio, TX
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Getting First Rental Property? Financing it? Alone or Group?

Tony Fowler
  • Real Estate Investor
  • Presidio, TX
Posted

I would like to get my first rental property. I'm not rich. The income will probably be 150 to me after paying rent and property managers. I want something new and I have tout 20% down. What is the best way to get financed besides a bank? Would anyone suggest doing it alone or in a group? I honestly do not want to deal with a mortgage but know I will have to if I do it alone since in my world, it is extremely hard to come up with 130,000 cash. Any suggestions? 

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Hattie Dizmond
  • Investor
  • Dallas, TX
1,810
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Hattie Dizmond
  • Investor
  • Dallas, TX
Replied

Tony...find another lender.  Talk to small, local banks & credit unions.  Big banks & high-volume originators are notorious for acting like their policies are the same as regulations that apply to all lenders.  Not true.  Just find someone who will work with you.

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