HELP! Suggestions for Asset Based Lenders please

[Alice Huang]

Hello BP Community!

Thought I would reach out for help as I am really struggling...

Situation:

- Canadian who does not currently own any assets in the US

- been traveling the world for the past 2 years so also no personal tax records

Really want to start BRRRR but I am having problems with getting non hard-money loans to long term hold the assets I want to acquire.

Spoke to some ABL and they will only lend if I had my own home in the US.  I can't own a home as I can't get funding.  So I am stuck between a rock and a hard place.

Anyone with similar experience?

[Mitch Messer]

@Alice Huang Got it! Where I was going with the owner finance idea was intended just for your principal residence.

Once you have a deed in your name, presumably, your ABL's concerns would be satisfied, and then they would be able to lend to you to maintain your aggressive growth strategy.

If you went out today and began seeking a preforeclosure property subject to the existing mortgage, you could have a deed in your name before the month was over.