Can I find a partner to refinance for me?

Question

Hello everyone. I was wondering if it would be possible to bring on a partner to refinance for me on a hypothetical deal?

I won’t be able to refinance because the last 2 years in my job I didn’t make enough income to qualify. At one point I thought the gross income in my business would be good enough to qualify but later found out that they only look at gross income for W2 workers.

I would be the one who finds the deal but I would need someone else to refinance when the time presents itself. Is this possible?

Im hoping I could bypass wholesaling and flipping this to build capital and get straight into Brrring with opm. Is that possible?

Michael Giaquinto · Answer

@Whitney Hutten Yes that would be great. Thank you very much

Whitney Hutten · Answer

@Michael Giaquinto

Portfolio loans are an alternative if you want one.  You can start calling your local banks and credit unions and asking to speak to the commercial department.  Also, there are national commercial brokers as well.  PM me if you need a couple names.

Michael Giaquinto · Answer

@Whitney Hutten That’s a great. Is that like a portfolio lender? My credit score is high. I’m just doing part time work at the moment and Cannot show much income.

Whitney Hutten · Answer

@Michael Giaquinto Have you looked into commercial fixed-rate loans from either a local bank or national broker?  If they deal is good, they won't really look at you in underwriting other than creditworthiness.