Help - Need Advice on Funding Deal
Ok. I made a post a few weeks ago regarding a deal that my partner and I put under contract - http://forums.biggerpockets.com/viewtopic.php?t=13909.
We were planning to put 20% down and get a mortgage for the rest ($20,000). I just talk to the guy we were planning on getting our mortgage through and he told us our application would most likely get denied because we don't have a lot of liquid assets (only a few thousand a piece) and because our debt to income ratio is too high. He said our credit is great and we obviously know how to manage our debt, but it is too high at this point fr them to consider such a small loan.
So... we need some advice on how to finance this deal. Our closing date is December 30th. I'm thinking we are going to have to find a private investor or find a HML.
Any suggestions or advice would be greatly appreciated.
Thank you!