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Updated over 7 years ago on . Most recent reply

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Lindsey Price
  • Attorney
  • Pomeroy, OH
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Funding my next rental

Lindsey Price
  • Attorney
  • Pomeroy, OH
Posted

We currently have three buy and hold rentals and it is going great. I want to purchase more but our credit sucks so traditional mortgages are out. Real estate prices here are super low so I would have to purchase a number of properties to hit the minimum loan amount for a number of lenders. A lot of our area is in a flood zone as well. So multiple obstacles, but I am determined. All assistance appreciated. Thank you.

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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
Replied
Originally posted by @Lindsey Price:

We currently have three buy and hold rentals and it is going great. I want to purchase more but our credit sucks so traditional mortgages are out. Real estate prices here are super low so I would have to purchase a number of properties to hit the minimum loan amount for a number of lenders. A lot of our area is in a flood zone as well. So multiple obstacles, but I am determined. All assistance appreciated. Thank you.

 Low prices and flood zones sounds like seller-financing may be a fit.

Target tired landlords off-market vs Jack and Jill homeowners on the MLS.

Learn the risks of Land Contracts and how to protect yourself.    Go get 'em!

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