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Updated about 11 years ago on . Most recent reply

User Stats

33
Posts
2
Votes
Manish A.
  • Bethesda, MD
2
Votes |
33
Posts

Lenders won't even meet with us because we're newbies

Manish A.
  • Bethesda, MD
Posted

A friend and I are looking to do some investing in single family homes - involves rehab or new construction.  

I've spoken to a few bank lenders, once they know we have little to no experience, it ends there.  They're not interested to even consider lending, or in most cases even meeting.   One wanted to refer us to "hard lenders" and basically said come back when you have a few projects under your belt.

What should we do?

Most Popular Reply

User Stats

182
Posts
66
Votes
William Byers
  • Engineer
  • Jacksonville, FL
66
Votes |
182
Posts
William Byers
  • Engineer
  • Jacksonville, FL
Replied

Find some hard lenders and get some projects under your belt.  Banks don't like investors generally.

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