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Updated over 7 years ago,
Fort Collins area hard money
Hi all,
New to Fort Collins after serving 8 years in the Air Force, mostly overseas. Moving to the city in November. Going to become a mortgage banker in December.
In the meantime, I need to get investing in real estate! I need to buy a place, add value to it, rent it out and see if I need to update my financing to account for the added value. I also need a place to live.
So, I need a hard money lender. Reason: I can't get approval for a conforming loan based on taking a commission based position without at least two years of income history.
Here's the rub: I can't get a hard money loan without having a good property lined up. I can't get a good property lined up without having an approved funding source (at least it seems that way here in FoCo).
How would you guys proceed? I appreciate any and all thoughts and comments.