Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 10 years ago on . Most recent reply

User Stats

21
Posts
0
Votes
Elias Betondo
  • Investor
  • Niles, IL
0
Votes |
21
Posts

Own 2 Multi Units in Chicagoland Area..What are my financing options for my next investment?

Elias Betondo
  • Investor
  • Niles, IL
Posted

I am looking to expand on my investments, but I am not sure on how to get financed for my next property.  I currently own 2 multi unit properties, 1 is cash flowing well, and the other was recently purchased with a 203k loan, and I am in the process of renovating it.  I recently took a new position at my "full time" job and due to the pay structure it seems like lenders cannot even make a refinance work at this time.  A large portion of my pay (about 80%) is based on gross sales combined with a low base salary.  I have been in the same line of work for over 5 years, and all my previous positions had pretty similar pay structures, but due to this recent position change lenders are telling me they will need 1-2 years of history. I definitely do not want to wait 1-2 years to expand my business.  I have excellent credit, and get paid fairly well.  What are my options?

Loading replies...