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Updated about 4 years ago,

User Stats

31
Posts
13
Votes
Jack Rozema
  • Attorney
  • Manhattan, KS
13
Votes |
31
Posts

First time looking for lenders

Jack Rozema
  • Attorney
  • Manhattan, KS
Posted

Hey all,

I’m considering my first rental property and getting my foot into real estate investing. It’s a house around $150,000 that I think is in a great location (close to downtown) and can produce some good cash flow via either short or long term rental.

However, I'm not really an expert yet when it comes to obtaining financing (and the right kind). I don't have much for a down payment and I'm not really keen about asking for family/friend money yet. Yes I've been exploring a bunch on Zillow and Mortgage Calculator plus and playing around with what my payment would be with PMI, etc.

My main questions are:

How do I find a good lender?

What are the right things to present to that lender to make them give me the best possible rate? General research from AirBnb, Rentometer, etc?

Other recommended routes to buy the property?

Thanks in advance!!

Jack

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