Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 8 years ago,
Question about financing a rental
Hi everyone,
I'm buying a rental property at a nice discount but I'm not sure on how to finance this deal.I've been working as a realtor for the last 7-8 months so I don't have a W-2 job. My credit score is decent (around 680) and I have very good cash reserves. The property is in move-in condition and I'm buying it around 70-75 % discount. I'm planning on doing a cash out refinance down the road.
How should I be financing the property? Should I use a HML, portfolio lender or just try and get conventional financing?