How to finance while I’m out of country?

Question

Hey BP!

I’m currently living in Berlin, Germany, but originally from Chicago! I’m looking specifically for a first property, which will be an investment in Chicago downtown, but I’m having trouble getting financing.

My current situation is okay credit, but still not great at 670. I do have equity 100-150k I can put down and make decent 6 figures.

Does anyone have good lenders or creative ways I can get 200-250k?

Thanks ahead of time!

Best,

Steve

Account Closed · Answer

I'm not familiar with any hard money lenders in Chicago. But if you go to the "Network" tab, then "Hard Money Lenders," you can find hard money lenders on BiggerPockets.

Steven Glod · Answer

@Lauren Juarez thank you !

Frank Geiger · Answer

If you are a citizen, I don't see why you would have trouble qualifying for a mortgage. Try reaching out to national/online lenders. They don't have the best rates but you can still close deals.

Here are a few online to reach out to:

https://limaone.com/rental30/

https://www.lendingone.com/rental-loans

Account Closed · Answer

Maybe hard money?

Frank Geiger · Answer

@Steven Glod I have never purchased a primary residence. I have been stationed in the military in high cost of living areas. I never had a problem getting a mortgage. You probably aren't talking to the right person.

Steven Glod · Answer

@Frank Geiger it’s bc it’s my first property and it’s as an investment property. That’s why they keep saying I cannot get approved.  I’m sure I could find a hard money lender, but again not in a huge hurry either way. Appreciate your help! Let’s connect on LinkedIn

Steven Glod · Answer

@Lauren Juarez any good suggestions?!

How to finance while I’m out of country?

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