All Forum Posts by: Steve James

So I was able to get in touch with an out of state real estate investor and share my story. He recommended to look for a portfolio lender. Does anyone from Arizona have a portfolio lender that they can recommend? Thanks

Thanks Sam, we were hoping to find alternative methods or ideas of funding prior to that as a last resort.

Good evening all,

I would appreciate any advice people could help us with, thanks in advance.

Backstory...

We are set to close on a condo that will serve as a second home, then housing for daughter for college, then eventually an investment property. All the financials look great and we have it under contract. We were preapproved and have the cash for down payment. We are using a mortgage broker and during the final stages the Fannie Mae review has stopped the process dead. Fannie Mae requires that no more than 50% of the complex can be listed as rentals and now it looks like the mortgage won't fund. Typically people purchase these with cash, but we don't have that. We are still waiting for final word but it's not looking good. We don't want to loose this awesome opportunity. Please offer any advice other than potential hard money lending. Thanks

Welcome to BP!

Just wanted to bump this back up for some local options. Thanks

We are new to REI and are looking for friendly and supportive realtors to help us purchase a buy and hold in the Phoenix Metro area. We have friends and family that are realtors, but none that actually specialize in the investment arena. We would prefer those who are also investers as well. Please feel free to send me an email at [email protected] or message me throgh BP. Thank you for your time.

Thanks Micah, we will.

Thanks for the great advice Allan!

Anyone with any words of advice for us?

Thank you for posting this valuable information.