What to do when you don't qualify for conventional loan?

[Account Closed]

Hi, team. 

My name is Luke Diamond, and I'm a new real estate investor in Minneapolis, MN. I am attempting to gain pre-approval for a loan on my first multi-family property (first property at all, for that matter).

The amount I have been pre-approved for via Rocket Mortgage is far too small to purchase a multi-family property in my local market. 

I'm a bit discouraged because, as a beginning investor, I was hoping to use basic financing methods (read: conventional loan) to obtain my first property, but that is beginning to seem like it isn't an option. 

Aside from boosting my credit score and bulking my savings -- both of which take time -- I am not sure what other options are available to finance my first purchase before my self-imposed deadline of September 1. 

If the Bigger Pockets community has any advice to offer, I am all ears. Thanks in advance for your pointers. 

[Tim Swierczek]

@Account Closed  rocket mortgage mortgage is hardly the authority in mortgage lending I’d recommend finding a local professional and get a second opinion.