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Updated over 10 years ago on . Most recent reply

User Stats

25
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Peter Stanford
  • Real Estate Investor
  • Lynn, MA
3
Votes |
25
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Where do I get funding???

Peter Stanford
  • Real Estate Investor
  • Lynn, MA
Posted

So here is my situation: I am looking to get some rental properties but have no clue where to start with funding. I have a good amount of cash set aside and have maybe 3-500 in debt. I also have 400k in equity in my current home.

My problem is that I have no idea where to go next. I have been looking at the MLS and HUD and have seen some interesting prospects, but have no funding. I emailed the lender I got my mortgage from but haven't heard back.

Any suggestions?

- Pete

Most Popular Reply

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22,059
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Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
14,127
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22,059
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Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
ModeratorReplied

You can get a conventional investor loan without having two years experience. The two years experience is needed if you want to include the rental income when they compute your DTI to qualify for the loan.

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