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Updated over 8 years ago on . Most recent reply
Private lending help in OKC
Hello all! I am new to BP and just closed on my first rental property last week. I have always had an interest in making money in real estate and when an opportunity arose I took it! I paid all cash for this home ($25K).
Now, I want another!
I have talked with my bank about a conventional loan, but my debt to income ratio just barely prohibits it. I already have a tenant in my newly acquired home (she's a neighbors daughter that wants to live close to mom) and expect her to be there for a very long time.
I guess my questions is where can I start looking for funding? I do have some cash, but of course, I want to leave as much as possible as working capital.
Any help for a newbie would be much appreciated.
Thank you!