All Forum Posts by: Shaniquea Fails

@Aaron K. My plan has been to get a tenant in first in order to show the bank that the house is cash flowing consistently. I want to ensure that the mortgage given will be paid and that I have a good tenant in place before I decide to put a mortgage on the property. I was thinking about guaranteed income like section 8.

@Aaron Hollingshead the value of the home is in the lower range just under 50k. This is exactly what I was thinking that since it's in the lower range it may be a little challenging finding a lender. Especially due to the LTV clauses that there are.

I bought a house all cash last year. Unfortunately, I was in over my head at the time and hadn’t gotten the house tenant ready once the old tenants moved out. The house was a mess! This year although it is corona season I’m finishing up renovations and am prepared to rent out my property. My plan is to rent it out and put a mortgage on it.

My question is how do I put a mortgage on a property that is free and clear? Especially during this time. Also, is there any advice anyone has in order for me to begin scaling off of this property. I’m all in and ready to begin!

Thank you in advance.

Cleveland, OH Market