What to do next? Loan roadblocks.

[Ethan Goforth]

My investing partner and I have recently filed for an LLC that we plan on moving properties into after we purchase them. We were in the process of getting pre-approved for a loan when we hit a roadblock. My partner is self-employed, so has a K-1, not a W-2, so a traditional mortgage will not work. Also, I am currently in a unique position where I have a fair amount of capital for a 24 year old, but a lower income W-2. Does anyone have any advice on where to go from here? We are looking to start with a student rental in our college town because we have a lot of connections to fill the property consistently and gain experience in the process before scaling our portfolio.

[Ronald Starusnak]

Use a hard money loan. I keep getting spam from The Loan Guys, where they claim they don't look at your income and only at the performance of the property.