Struggling to source funding

[Srini Karanam]

Hello, I have been in real estate investing over 10 years. I currently own 6 properties. I always seem to struggle in finding lenders. For example, I currently own two properties in Cleveland 12 units and 5 units. I paid cash  for both of them. They both are completly occupied. I am trying to do a cash out loan and have been working with a lender for 45 days. Not much have happened so far. We are getting in to holidays and probably nothing will happen until first week of January. The properties are class C and are not in the best part of the town. But together, they are generating over $12,000 a month.  I recently lost couple of deals because I couldn't get financing quick enough. I want to hear from others on how you manage finacing needs. Any suggestions are welcome.

[Scott Wolf]

Quote from @Srini Karanam:

Hello, I have been in real estate investing over 10 years. I currently own 6 properties. I always seem to struggle in finding lenders. For example, I currently own two properties in Cleveland 12 units and 5 units. I paid cash  for both of them. They both are completly occupied. I am trying to do a cash out loan and have been working with a lender for 45 days. Not much have happened so far. We are getting in to holidays and probably nothing will happen until first week of January. The properties are class C and are not in the best part of the town. But together, they are generating over $12,000 a month.  I recently lost couple of deals because I couldn't get financing quick enough. I want to hear from others on how you manage finacing needs. Any suggestions are welcome.

This can easily be done by DSCR. I'll shoot you a PM.