Financing/Lenders for cash flowing properties

[Brandon Gamblin]

Based on what I've heard in the past, its easier to get rental property financing than it is to get fix and flip money. Don't know if that's necessarily true or not, but I want to get started in renting out as a long term investment. 

I'm currently looking to purchase my first rental property and I'm not able to obtain conventional lending from a bank or credit union.

Does anyone know how financing for a rental/cash flowing property works different from fix and flip funding? Is there any difference? And could you also refer me to some lenders that specialize in financing for rental property?

Thanks

[Mireya Martinez]

@Brandon Gamblin

Hi,

Fix and Flip properties are more difficult to finance due to the condition of the properties. You would need to contact a lender who is willing to work with an FHA 203K loan.

I would suggest, if this is will be your first investment property. Purchase a Multifamily property were you occupy one of the units. This way you can get an FHA loan with a minimum of down payment (3.5%)