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Updated about 4 years ago,

User Stats

14
Posts
6
Votes
John Foresman
Pro Member
  • Clayton, NY
6
Votes |
14
Posts

Any Recommendations on Lending Sources?

John Foresman
Pro Member
  • Clayton, NY
Posted

Long story short, I am having some trouble funding a deal I found in my area. A 9 mo break in my employment from 2018-2019 seems to be disqualifying me from conventional lending sources, and only needing a $100k loan is a deal breaker at some other places. I am currently looking at a fully rented duplex giving me a 20% cash on cash return using the rental calculator. I have submitted information to a few of the mortgage brokers on the bigger pockets network and I have been blown off by all of them.  I am struggling to figure out where to go from here.  I have been told I should look into private lending.  I would like to place an offer but I would also like to know I can go through with the purchase without wasting everyone's time.  Any advice besides "wait for the next one to come around"?

  • John Foresman
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