Nonwarrantable condo financing

[Danny Voelkel]

Some partners and I are working on purchasing some 1 bd condos for about 38,000 a piece. The issue were running into is lack of financing. The lenders we typically work with have classified this as a Nonwarrantable condo due to too many of the units in the complex being rented. We have tried private lenders but they won’t lend under 75,000. Any suggestions?