High salary and 300k in cash but can’t get financing.

[Tyler Anderson]

Foiled by student debt again!

I’m a young professional with a high salary job, good credit score, 50K saved up for investing, but high student loan balance (due to be forgiven in 5 years through PSLF, so I DO NOT want to pay off more than I need to).

Our home is in a 15yr fixed mortgage so it’s a pretty high monthly payment.

The combination of that mortgage and my student debt have shut me down when trying to get a 2nd home loan. I really want to get into short term rentals and have spent all year reading and researching and networking. I feel ready to pounce and have ID'd a good market. But I can't get a loan! Since all govt. loans are in deferment, the banks are using a default 1% rule when calculating DTI. This makes my DTI super high.

Still can’t find financing even though we have a business partner willing to put up 250K to get things rolling. So we could do like a 30-50% down payment on something but I’ve tried multiple portfolio lenders and they all string me along for 1-2 months before telling me sorry no dice.

Any tips on where to look for financing?