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Connor Anderson
  • Real Estate Agent
  • Grand Rapids, MI
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138
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Private Money for a House Hack?

Connor Anderson
  • Real Estate Agent
  • Grand Rapids, MI
Posted Aug 10 2018, 13:52

My goal is to buy a 4 bed 2 bath house in the Barnum and Athmar Park area of Denver. $300-$350k seems to be the range of house that meets my criteria in this area.

The only problem is that with my debt to income ratio (student loans and a car payment) I can only qualify for about $250k.

Running the numbers I know that I would live for free and even cash flow a small amount on a property, but of course mortgage companies don't look at this when lending. 

So here is my question, are there any Private Money Lenders out there willing to loan money to a young investor looking to get into his first house hack?

Or should I just wait until the Fall or Winter, in hopes that the market will soften and I can afford a house hack using a traditional lender?

Thank you in advance!  

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