First rental investment, and my first roadblock.

[Ray Wiggins]

My investment partner and I are just starting out. We think we’ve found a duplex, but we’re running into roadblocks trying to secure a loan for purchase. We both work for a company making 100K a year and both have great credit scores. However, the banks we’ve talked with aren’t willing to loan on investment properties.

I’m here looking for advice and education on where to go next. I’ve inquired about owner financing but the agent says the seller won’t be in a position for that. He’s asked for an offer and terms, and what a down payment would be. Any help would be great. Thanks.

Ray.