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Updated almost 6 years ago,

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2
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Brevin Weaver
  • Rental Property Investor
0
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2
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Young Investor getting Financing/Capital

Brevin Weaver
  • Rental Property Investor
Posted

Hello Bigger Pockets! I am a very new investor looking at purchasing a few rental properties. At this point I have one rental property and am looking into also possibly doing some flips as well if an opportunity comes up. My one problem is I am almost 19 years old and I cant seem to figure out a way to get financing on these deals. I have very good credit but not enough history to even be considered. For my first house, my parents were nice enough to help me out and now I am paying them back. That's awesome, but obviously I cant keep doing that. 

The one option that I can think of is using a line of credit on my first house. The only problem with doing that is I have to wait a year (almost half a year from now) to get the appraisal based off of the actual value of the home now, not the purchase price when I bought it. I bought it for a very cheap price, and so getting a line of credit based off of the purchase price wouldn't even get me close to enough to buy another house...

Do any of you have any suggestions on where I should go from here? Thank you for taking the time to read this!

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