My Client/Friend Just Signed Contract for NFL, and I NEED advice on the best Loans/Funding Available for Professional Athletes

[Jillian Messinger]

Good Evening Everyone!

I am in yet again, another situation where I feel the need to reach out to my fellow Bigger Pockets Friends!

Long Story short, my friend/Client has just signed a 2 year contract for NFL and is wanting to invest more of his funds into the Real Estate Market.. I mean, can you blame him? :)

I am currently looking for a great house to hold and appreciate over time. We found the perfect home in a great part of Tampa that was fully renovated and still has plenty of upside potential.

The home is currently listed for 150k but we submitted our offer at 125k.

My question is, although he has the CASH RESERVES to complete this transaction with ease, he wants to pull out a loan for this one instead.

He is going to rent the home out to our mutual friend and wishes to have a Mortgage, in which she will make monthly rental payments.

Here's where it gets tricky... He has no credit. Yes, that's right... NO CREDIT!

He has reserves to where we can aim for a Bank Statement Loan, but we are wanting to see if there is anything else out there for Professional Athletes, specifically in the NFL that could help him purchase his first home.

I would appreciate ANY and EVERY piece of advice I can get. As I have asked my fellow Colleagues all around the world, and I have heard some of the same answers over and over.

Maybe there is something else I may not be aware of.. Maybe there isn't.. I would simply appreciate some feedback.

Thanks again! I hope everyone has had a lovely, yet productive Sunday!

Be great!