Updated over 7 years ago on . Most recent reply
Getting financing with a 25 year old felony
What to do when you get denied a hard money loan because of a 25 year old, felony conviction?
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Will Gaston
#3 Managing Your Property Contributor
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Will Gaston
#3 Managing Your Property Contributor
Pro Member
#3 Managing Your Property Contributor
- Rental Property Investor
- Columbia, SC
@Account Closed if the rest of your application is fine (i.e. the deal is good, credit is good, down payment is sufficient, etc) then I would think your next best bet would be to network and find a local private investor who would be interested in financing the deal.
The upside in dealing with individuals is that they would have a lot more leeway in overlooking certain aspects of a deal that HMLs or banks will not.
Go to a local REIA meeting a network. It's been my experience that in this market there is more money currently available than deals currently available.