Finding a lender

[Josh Tonnesen]

I am looking into buying my first investment property. I have done market research, and I know the rent market very well. I am still currently a student, and do not have credit history. I am also employed. I have gone to some local banks, and I have applied for my pre-approval letter for the mortgage. The house is listed at 28000 and it is a foreclosure. There are needed repairs, but I believe that this property could be bought for a good value. The mortgage I was applying for does not allow for the house to have certain problems, such as a leak in the roof, and the house is missing a stove, which is why I did not get the mortgage. I was looking for some advice as to where I should be looking for lenders, and if private loans are a good idea. I know they typically have higher interest rates, but I do not think it would be a huge problem because his house cash flows very well. I have numbers ready if anyone would like to see them, but I am looking for some lender advice. Thank you in advance.