I'm back!

[Mina G.]

Hello everyone,

I joined BP last year and learned a lot but I didn't have the funds to start buying. I currently own a multi family property in Bayonne, NJ. I rent one apartment and live in another. My goal is to have enough rental properties where I can quit my day job. I currently can't borrow because my income to debt ratio is too high (Only debt is my current mortgage).

During the period I have been gone from BP community I was investing in the stock market (stressful). I had some money but not enough to even put down as 20-25% on investment properties. After a stressful 6 month in the stock market I managed to make 28% return.

Now I would love to invest in NJ but I have no idea how can I get financing with such high debt to income ratio. I can afford to put down up to 25% on a property.

-I have been looking for owner financed properties but I can't find any!

-I really forgot all this stuff but would a hard money lender fund an investment hold/rent property If I can put down 20-25%?

[Darren Sager]

If you can put down 25% you should be able to find a lender who can finance you with a portfolio loan. They will look at the deal itself more so than your debt-income ratio provided your credit is good.