Do I need a JOB to get a loan? Full time flipper no profession.

[Ryan S.]

So I am trying to get a traditional loan to be able to flip more houses because my bottleneck is funds right now.  I know that I can go the investor route but my question to everyone is "will a bank give me a loan"?

I have just finished my 3rd flip with success and it sold in one day for full price.  I take great pride in doing all the work myself for the time being but am looking to expand.  

Because I have no job will a bank accept a "portfolio of houses" that I have completed as proof?  It is really hard being a 25 years old with no job and student loans trying to get money from a bank.  I flip houses full time and do the work myself, but im starting to think I might need to get a job so a bank will give me money.

What banks are the most lenient with "buy and hold" and "fix and flips"?

Reasons why im turned down

• 25 years old
• have college debt
• no job (flipped 3 houses full time)

[Dell Schlabach]

Its possible but not likely easy. I know a number of rehabbers that are doing it full time who are able to borrow money from banks to fund their deals, 4.5-6%, one year interest only notes for 80% of purchase price, plus rehab money, up to 80% of ARV.

Your best bet is with a local portfolio lender. They have the most flexibility to make loans that dont fit into a particular box. If you have decent credit, and some reserves and a sucedsful track record where you can show that you have made good money on three flips, you have s shot. 

Call every local independent bank, ask for the branch manager or commercial loan officer. If you persist you will likely find what you need.