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Updated about 8 years ago on . Most recent reply

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Edward Fagbemi
  • Wholesaler
  • Columbia, MD
0
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5
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can i finance a Investment Property that cost 40k

Edward Fagbemi
  • Wholesaler
  • Columbia, MD
Posted

Hello House,

can i finance an Investment Property that cost 40k in Baltimore  Md.

Thanks in advance

Most Popular Reply

Account Closed
  • Investor
  • Denver, CO
582
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736
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Account Closed
  • Investor
  • Denver, CO
Replied

Yes - you need to find a portfolio lender in your area.  A portfolio lender is generally a bank (or credit union) that does not resell the loans it makes.  Forget about national banks (Chase, Bank of America, etc.) and look to the smaller, regional banks.

Make sure it cash flows before you take out the loan - less expensive houses are tough to cash flow with a mortgage on them.

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