No rental history...prime property location...where to find funds

[Heather Gates]

We are newbie real estate investors. Currently we own a single family in prime downtown area that is renting and are about to close on a quadplex later this month. I have stumbled upon a group of duplexes (8 doors plus property with electric and sewer ready for more) for sale in a very desirable developing area of town. They have been poorly managed for years so there is no history and I am not even sure they submitted the income on taxes. Yikes! Anyway, The banks won't touch the funding without history. Where can I find funding for them for about a year while I get the history and management side taken care of before refinancing with the bank? It is possible I can get a pretty awesome deal on them. I hate to throw in the towel and pass it up.

[Spencer Gray]

Hard money or private money would be your best bet. Good luck!