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Updated about 6 years ago on . Most recent reply

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Zachery Buffin
  • Investor
  • Away
131
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167
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Who will fund a newbie?

Zachery Buffin
  • Investor
  • Away
Posted

Hey BP,

    At the time of writing this post I have found a 12 unit with a lot of upside potential in a strong rental market. I have the down payment, not a problem, my biggest issue is trying to find a lender for a first timer like myself. Has anyone had a great experience with a nation wide lender? My biggest problem is that my company is simply too new and I don't have the two years of income statements I think. 

    I am running out of local banks/credit unions but will keep everyone posted with updates. I hate to let one slip by simply because of money. Willing to take a partner on it as well if you can get pre approval. I am new to apartments and this would be my first one, I just think there is a lot of opportunity here. Thanks for your time everyone!   

Most Popular Reply

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Greg Scully
  • Rental Property Investor
  • Johnson City TN
271
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386
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Greg Scully
  • Rental Property Investor
  • Johnson City TN
Replied

@Zachery Buffin - We were in a similar situation where we had a tough time with traditional banks because of our experience level.  We ended up with a bridge loan.  @Scott Hollister was a great resource for us, you may want to reach out to him directly.

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