Credit/Financing Partner for Rental Properties
I have flipped 5 properties this year and through my marketing efforts have come across some off market deals that I would like to start building my rental portfolio with. I personally dont have the credit score or down payment to finance either of these right now.
Both properties I have are under contract and are single families with accessory dwellings. The net positive cashflow after accounting for all expenses (property management, capex, vacancy, etc) is $700-$1000 which is very good for the Utah market I am in.
I was wondering what type of options are out there for private lending or asset based lenders that would underwrite the deal based upon the rental potential of the property.
The other path I am considering is partnering with someone that can do all the financing and be a silent partner and receive equity as well as cashflow.
Does anyone have any good ideas?