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Updated over 8 years ago on . Most recent reply

User Stats

82
Posts
19
Votes
Cody Dover
  • Rental Property Investor
  • North Little Rock, AR
19
Votes |
82
Posts

Getting the first deal done

Cody Dover
  • Rental Property Investor
  • North Little Rock, AR
Posted

Hey guys-

I'm just starting out, been analyzing deals and comps and talking to realtors about the surrounding areas. We have been making progress each day moving forward with something. We've set up an LLC and about to get our website up and launched with a few landing pages out there.

On the flips side, we've run some numbers on several properties and found some can be cash flowing with a tenant in them after the ARV. Our only hurdle is finding an investor to help us finance the deals. If I tried to even get a traditional mortgage on a $90,000 house as a first time home buyer I would most likely get turned down with not enough income to support that loan even thought the tenant would be paying it down for me.

What can you guy suggest I do whether its finding a hard money lender to trying to work the system with a mortgage.. 

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