All Forum Posts by: Axel Ragnarsson

@Justin Fraser Thanks Justin. I see a lot of people complaining about an inability to get financing, but usually they aren't speaking with enough banks.

Thank you @Alsee Mccray

Thanks @Justin Pillion, I'm going to try my best. It is so difficult to get financing that I may have to wait a while before I get another property, but I fully intend to buy another as soon as I can.

@Pete Perez Part of the reason I had such a difficult time finding financing is because I'm a college student with minimal income and hardly any credit history. In 18 months, i will have graduated and have a much higher income that will be more appealing to lenders. As for the equity, I purchased the property for slightly below market value which means I have some equity in it right now. It is hard to calculate exactly how much unless I can an official assessment.

@Lawrence Smith Thank you!

@Jordas Reyes It took forever, but it was worth it!

@Assata Moore Thanks for replying! I hope what I've posted is helpful to others.

@Rashid Armand Thanks man. While we have some disadvantages as younger investors they can be easy to overcome with some creativity. I notice your in Dover, I actually live in Durham NH right now work out of an office in Dover, so we are close to each other.

@Melanie Rodriguez Thanks Melanie!

@Cody Barrett Financing investments creatively just takes more time and effort but it can be done. I wish I could have just gotten a regular loan from the bank, it would have meant investing a lot sooner for me.

@Kevin Gregoire It actually does not need much work at all, just around $3k in repairs that are overdue. The reason I got it for that price was because of that fact it was a FSBO.

@Gino Barbaro I would 100% agree that those are the most vital steps. And your right, if I can do it, then anyone can.

@Mike Hurney So very true.. That is such a great perspective

@Jonathan Smalls I didn't use FHA because I won't be occupying the property. I still live at college, so I had to go the conventional financing route.

@Tom Tippmann Almost every larger bank and credit union did in fact have a problem with it. However, I ended up convincing the CU that loaned to me that I had a majority of my net worth on the line and I was more than invested in the property. 

@Will Stewart Yeah, I'm not banking on serious appreciation but rather just an ability to sell it for more in the future based on the fact there are so few MF's in the town of Chester.

@Peter Parisey Sure did! The deals are out there!

@Ryan Heywood @Tristan Cortez Thanks guys, it was people's success stories that kept me motivated. Glad to do the same.