Lender, Mortgage Broker, Portfolio Lender needed in Wiscosin
Hey Everyone,
What I'm looking for is a lender or mortgage broker that is able to come up with creative financing to get deals closed. Though I don't fit into the cookie cutter outline most banks want I think I have some things going for me that if presented to the right bank, may be able do something with.
I'll do my best to layout all information I can.
Own 1 single family residence (my personal residence) Mortgage $82,000, Market Value $145,000.
Own 1 single family rental. Mortgage $90,000, Market Value $115,000. Current Gross Rent $1200.
I have been running my own Real Estate Brokerage and investment company for the past 3 years but have only been doing it full time for the last year.
My first year tax return from being self employed full time was 2014. I claimed ~$45,000 in gross income.
Both mine and my wife's credit score are ~800
My liabilities are limited: School loans $19,000, that's it. No credit card, or car payments.
What I'm trying to get around is the 2 years of tax returns needed for self-employed. It seems to be the first question the bank asked and after they here my answer they don't want to even talk to me anymore.
One last thing to note is that any property I do purchase I act as the broker so I can get 2.4%-3% equity right off the bat. I'm willing to use that towards down payment, closing cost, fees, etc. as needed. Obviously I want to do the most deals as possible so the lower the down payment requirements the better. I'm also willing to pull on equity in my properties. We are even open to selling our place.
I'm mostly looking to purchase 2-4 unit properties.
Let me know if anyone is out there that thinks they can help me out. I'm not going to let just anyone pull my credit, so please be prepared with what sort of programs you can offer and the criteria needed. Won't even proceed unless i know for sure there is a real chance that I can get a deal done.
If you have questions or need additional info please PM me.
Thanks
Sam
