Financing cheaper homes

[Andrew Locke]

Hi guys,

New here and hit a stumbling block. Our goal was to buy properties with cash, rehab, the refi and pull out cash back out. 

Now I'm seeing that seems to be an issue unless I wait 6months. Even at 6months, some of the properties are under $50k

Where do you finance these so you can scale?

[Samuel Coronado]

A local bank or credit union is always the first line when trying to refinance smaller loans. You have to ignore Kiavi and other similar companies when it's a smaller loan unfortunately. Local banks usually have a charter that says 90% of their loans will have to be given to the local community with a tricounty area. They can be your best allies if you are concentrating in a specific city or tight regional area.