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Updated over 5 years ago,
Pre-Approval and Private Funding
Hey all!
I am planning on buying a single family home in northeast Ohio to rent out. I have 1 other rental that was my first house that I rent out in the same area. I get a ton of lending companies sending me me pre approval letters in the mail like SoFi, Best Egg, Discover, Paypal, American Express like many of you, I am thinking. I was thinking of just using one of those companies to lend me say 60 to 70k to buy next property and then just get a mortgage with a lower rate once it is rented.
Well, I just spoke with a real estate agent locally and they said they would not show me properties unless I have pre approval info that I could give her for her to show my houses. Is there a way to get pre approval info from these types of lenders or do get the letter from a mortgage company or do I find another realtor? Any advice?
Thanks,
John