Need your help , Problems regarding financing from banks

[Shakti Pradhan]

Hi Folks, one of my friends is having some trouble getting financing from banks, let me share the email he sent me.

Banks want 2 years tax returns that show agi to carry the loan. I have really good credit but don't have enough income to qualify for a bank loan. It's a different situation than before 2008 when Countrywide would have given me any type of mortgage. Tell me how can i buy real estate!

Your suggestions are highly appreciated
Thanks a lot
Shaz

[Justin Hill]

The first question that I would have is whether or not your AGI is too low because of write offs or is it really too low. Most banks nowadays are very careful to only lend to those that legitimately can afford the loan.

If you are serious though about buying some properties I would recommend private funding. There are many lenders out there that can help,

I would want to know first though what your strategy is for funding and exiting, Depending on your goals, etc. will determine what type of a funding strategy you should pursue.

Happy to help!