MLB player struggling to get approved

MLB player struggling to get approved

Carolina Beach , NC · Member since 2018 · 9 posts · 3 votes

I am currently a professional baseball player for the Chicago White Sox.  With that being said it is extremely hard to get loans from the bank due to only having seasonal income.  I was fortunate enough to get approved last year after making my MLB debut, I guess making myself seem more convincing.  

I purchased a two bed two bath condo in Carolina Beach and will be renting this unit out for the summer.  After realizing the amazing benefits of this I would love to continue to invest more into real estate!  Do you have any advice on the best ways to get approved from the banks with a seasonal income?  I'm currently looking to purchase another vacation rental, or a multi home that my significant other and I are willing to do all management.  I'm extremely blessed that she holds a Northwestern degree and is a professional photographer and marketer  ....believe it or not this is my passion above baseball.  

From the research I have personally done it seems that my only options are partner investing such as peer to peer funding.  Are there any other ways? I'd love to hear your thoughts.  Thank you all !!!

1Reply
69 views

Most Popular Reply

Real Estate Agent · Mount Nebo, WV · Member since 2017 · 174 posts · 68 votes
8y
Any interest among your teammates to be money partners in a multi family? If you get some high-pay players in on the deal, you might be able to get into a good rhythm of buying with teammates’ money, rehabbing, renting, refinancing out of the private money, and finding another deal!
See this reply in the discussion

29 Replies

Jump to latestLatest
  • Carolina Beach , NC · Member since 2018 · 9 posts · 3 votes
    8y

    I must say that for this being my first question here on the website the feedback has been amazing!!! This is an awesome community and I thank you all for all of the help!  I have personally taken into consideration all of the replies and have learned a lot within just this forum.  You all rock!!! .... Shout out to @Brandon Turner for voting on this forum haha, made me feel special and your podcast rocks!!!.........Quicccckkkkkkkkkkkkkk TIP

Join the conversationCreate a free account to reply, vote on answers and follow this thread.