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Updated over 5 years ago on . Most recent reply

User Stats

16
Posts
19
Votes
Breanne Weber
  • Flipper/Rehabber
  • San Antonio
19
Votes |
16
Posts

Long term hard money?

Breanne Weber
  • Flipper/Rehabber
  • San Antonio
Posted

So I am a newer Invester and don’t have a full time job. So refinancing my long term rentals is more of a challenge. I have one triplex that I successfully BRRRRed into long term hard money 30 year fixed loan. Interest is higher but it still cash flows fine and in two year when it is seasoned I can go conventional. I have a single family that I just finished renovating and planned to do the same thing but my hard money lender is no longer offering the program because of the uncertain market. (Ugh, Coronavirus)
does anyone know a lender who will do loans for a gall such as my self?

My credit score is great I just don’t have much of an income. And I’ve only been investing for a year so I don’t have the self employment for 2 year requirement either. 

Help me find a creative solution. 

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