Love the forums and podcast!
I'm a self employed (started an online business) living in El Paso, Texas recently moved from the U.K.
My goal is to have 20 doors via the BRRRR method.
Bought my first property in cash, split it in two, rehabbed it and are about to start renting it, have been approaching local banks searching for a refinance mortgage but without any luck since I don't have a W2 or the revenue history (2 years) that the common bank is looking for before lending the money for the mortgage.
Can anyone recommend a credit union or bank that can provide an asset-backed mortgage for the property without looking at the personal finance?
Have been listening to the bigger pockets podcast and have heard from many guests that they have found these asset backed loans for their refinance.
Thanks so much in advance!
Assets based lending is mostly for primary and 2nd home. Do you have history of same line of business in U.K? If yes you shouldn't have any problem getting loan. You can try portfolio lender for 12-24 month bank statements program.
Welcome to Texas!
II know an excellent lender that works with bank statement programs. PM me and I can share his info.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.