Hyattsville, MD · Member since 2016 · 79 posts · 14 votes
So are their any portfolio lender that would take the chance to assist a newbie in obtaining an investment property? Please tell us what your prerequisites for assisting us would be and a contact number.
Real Estate Investor · Burlington, VT · Member since 2010 · 2k+ posts · 1k+ votes
10y
@Carlann Mckenna - I believe there's a link here on the site now to look up portfolio lenders for your area. Otherwise, call around to small local banks in your area to inquire.
I work with a few in VT but they only lend in VT, and generally only specific counties.
Note that the overall requirements were not much different than a conventional lender: 20-25% down payment for a investment property, good credit, proof of income to pay back the loan. The main difference was the speed on approving the loan, and flexibility on the property condition.