Started a Business, QUIT MY JOB! .... Now How To Get Funding?

[Frank Garcia]

Hi!

You may have seen my posts from about a year ago stating I was going to get into wholesaling. I have gone another route and started a non-real-estate related business that has been doing well and growing. Thankfully it allowed me to quit my job (hallelujah) mid way through the year. 

Where I am at now is I am currently renting, and would like to purchase and do a live in investment with an fha loan on a 4 plex. I want to do this by early next year.

Issue I've had is that my business was incorporated in 05-2015, and I've talked to bank and loan officers which have all said they would need the business to be established for a minimum of 2 years. I do not want to wait another year and half before my first purchase. 

What are my options to make this happen?

Thanks ahead of time!

[Jon Holdman]

Hard money is probably not an option for a residence.  Most HMLs require that you do not occupy the property.  A loan for a property you're going to occupy is subject to a lot of rules and regulation.   HMLs usually don't do that sort of loan.