Expanding Portfolio in Baltimore Maryland
I am looking to expand my real estate portfolio to buy include commercial properties ( multi family) but I am having difficulties finding financing. I bought my first property last year and lenders are turning me down. Does anyone have any alternative funding options that I can explore? The property has some tenants and does not need renovations. However, I could raise ground rent if I made some renovations.
What is the reason you are being turned down? If its because of the property then a good HML should be able to help you out, however if its because of your qualifications (debt/income/credit/cash) then alternative financing may be harder to come by (albeit certainly not impossible!).
Also note that ground rent is an expense, not a source of income. It also doesn't vary based on renovations - its fixed into perpetuity.
Which ways did you try so far?? and Did you mean you would get higher rent or something not Ground Rent
