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Updated over 8 years ago on . Most recent reply

User Stats

33
Posts
4
Votes
Logan Petry
  • Realtor
  • Sarasota, FL
4
Votes |
33
Posts

Financing Suggestions

Logan Petry
  • Realtor
  • Sarasota, FL
Posted

Looking for a little inspiration into my financing portion of my business 

My situation 

25 year old recent college grad investing in the Indianapolis market. Currently living in California tho. Have a small team doing most of the initial viewings for me. Looking at properties under 100k. Have about 15k reserved right now 

My strategy 

Small multi families. Want to close on 10 doors before 11/17 and then double my doors by 11/18. Wanting to eventually progress into large multi families 

Biggest issues I'm having now, besides just seeing more deals, is financing. Conventional loans have been tough for me to qualify for 1) not a long credit history 2) don't have a large reserve 3) living issues (I won't be living in the property I'm buying so no FHA and my high cost of rent currently doesn't look appealing to most lenders)

Any ideas on approaching this issue would be greatly appreciated 

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