I don’t have cash but I know I can get approved for a line of credit that would cover my down payment.

This is low work on your part and will put it on their credit report for prospective new landlords to see.

The average rental in that area actually little bit lower than you expected, plus the turn over rate is higher as well due to tenants creditability.

But if you have a hard time getting a portfolio loan then you might try getting a business loan or a business line of credit that is secured by the equity of those properties.

most of your small commercial banks in town will take a stab at it.. if you have deposit relationships with them that are meaningfulPremierlewis and clarkM and Tpacific continentalbannerthen you have the credit unions.

Refi with cash out seems to be a non starter because I lack the reserves required for a multi and my credit is a work in progress but improving.

-I have an excellent credit rating, decent IRA (which I refuse to touch), $150k savings-I have never had a mortgage or loan and applied for my first credit card about two years ago.

My tenant is a professor at Loyola with 850 credit score and she moved in the same week I listed.It's a shame Zillow doesn't also provide "rented" listings, like they do with "sold" listings.

If you want to use a HML, I suggest going to your local REIA and asking around for HML referrals - this should help you to stick with ones that have a proven track record.I suggest first striving to use a private money lender.

When considering a line of credit that I'm using it is about 15-30$ in interest or .25%, but it's not like I'm paying that each month, it was just for the one month that it was delayed, right?