Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 6 months ago on . Most recent reply

User Stats

3
Posts
1
Votes
Edwin Lopez
1
Votes |
3
Posts

Help with funding

Edwin Lopez
Posted

Is there a way to start your real estate portfolio or a business without having collateral or mixing personal finance’s? It’s insane trying to get some sort of funding via SBA Loan because some require either 25% of what you’re asking to borrow, collateral, x amount in assets…etc. It doesn't make sense to me because if I had either of these I wouldn’t need the loan. Any help would be greatly appreciated.

Most Popular Reply

User Stats

447
Posts
441
Votes
Tanner Lewis
  • Lender
  • Austin, TX
441
Votes |
447
Posts
Tanner Lewis
  • Lender
  • Austin, TX
Replied
Quote from @Jasmine Williams:
Quote from Tanner Lewis:

It sounds like you would be looking for a DSCR loan. The income qualification for the property is off of the property's cash flow. You would need to put 20% down for something like this.

The short answer is, yes...but, it is more difficult & takes more time. If you have a deal and you're willing to contribute some time & sweat equity, you can consider joint partnerships &/or equity partnerships. Just be careful who you partner with...be sure they are reliable, honest, experienced, and trustworthy. There's also hard money & private lenders, but they can be expensive. (It may not matter if it's truly good deal. Or, it could eat up all of your profit, which is most common.) Outside of that, maybe searching hi & low for seller financed or lease option deals. They're pretty hard to find in this market.

I'm happy to collaborate to see if there's anything I can help with! I have pretty diverse investor clientele. Feel free to connect with me any time!

DSCR loans are actually a lot easier than conventional loans! There is no need for tax returns or paystubs, and the closing timeline is about 30 days. Rates are also in the high 6s at the moment.

  • Tanner Lewis
  • [email protected]
  • Loading replies...