Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 9 years ago on .

User Stats

40
Posts
18
Votes
Lindsey Keller
  • Phoenix, AZ
18
Votes |
40
Posts

Desperately Need Alt Lending Options 4 Rental purchase

Lindsey Keller
  • Phoenix, AZ
Posted

Hello, 

I am just getting into investing on my own here and found a property that I believe would be great.  Just as I was about to put in my offer, BLUEGREEN the timeshare from hell that I have been fighting, plopped on to my credit. I now cannot get a loan because it looks like a charge off I am disputing. My credit was 730 and I have prime rate on my vehicles and make decent money.  I am fighting it, tried working with them and am now going legal. (Deceptive sales practices, I can't even use the thing etc) 

Problem is I DON'T want to lose this property. It is a rare opportunity in that it is listed as 2 residences but secretly has 3. Main house and a guest house that is split into two (one doesn't have a kitchen yet, but a perfect spot) I would likely live in the one without a kitchen while I fix it up and rent out the other two. Until I get ready for the next, I could live for free and cover all expenses plus some. Then rent out the 3rd once zoned and make very good positive cash flow on it. 

I am desperate for lending options for this. It is a rare opportunity in a booming area right now. Any ideas?? Anyone know of Private lending? Anything????