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Updated about 8 years ago,

Account Closed
  • Real Estate Agent
  • Richardson, TX
161
Votes |
511
Posts

Question about financing a rental

Account Closed
  • Real Estate Agent
  • Richardson, TX
Posted

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?

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