Buying rental after short sale
1 Reply
Rob Smith
Investor from Chino Hills, California
posted over 3 years ago
I am looking to buy another rental property in Memphis Tennessee on August 2015 I went through a short sale on my primary residence I am wondering if there’s anyway to get a loan for another rental property any suggestions please let me know
Curt Davis
Flipper/Rehabber from Memphis, TN
replied over 3 years ago
How long ago was your short sale? If it was within the last 4-5yrs I think you will still have a hard time getting a loan from a traditional bank. Best bet might be finding a private lender who will do a longer term for you. They will most likely want more down and a higher rate.