Investment loan challenges

[Kayla D.]

Hey folks! It’s been a while since I’ve posted - quick update:

- Purchased condo in 08/2021, fixed it up and it’s been fully leased since 11/2022

- Purchased 2 unit in 10/2022, currently living in one unit and renting the other

I’ve gotten my feet wet, bumped my head, learned a lot - but ready to add to my portfolio. There are so many condos south of downtown that seem like literal steals. 2-3bd < $100k. But I’ve talked to 4 lenders this week and none of them can offer me anything. 

Any advice on how I go about securing financing for less than $100k? Most are saying I need to be looking at $150k or more but after 15-20% down plus closing I won’t have as much breathing room as I’d like.

Are others just buying the $75k deals with all cash? Goodness…

Thanks in advance!