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Updated over 5 years ago on . Most recent reply

User Stats

90
Posts
75
Votes
Chris Mackinlay
  • Midland, TX
75
Votes |
90
Posts

Help with getting loan without comps

Chris Mackinlay
  • Midland, TX
Posted

Hello,

I have a weird problem.

There is a triplex I want to acquire. I think it's worth going after. I called the current property manager and asked some questions. It hasn't sold for quite a while because every accepted offer has failed because of lack of comps, ie no lender wants to touch it.

There is no way I'll be able to pay cash for it at this stage.

Any creative ideas to make a financing offer attractive to the seller?

I plan to speak to a local lender tomorrow and see what they can/will do.

Thank you for any suggestions!

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