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Updated over 7 years ago on . Most recent reply

User Stats

36
Posts
13
Votes
Phillip Gant
  • Investor
  • Great neck , Ny
13
Votes |
36
Posts

Funding low cost deals

Phillip Gant
  • Investor
  • Great neck , Ny
Posted

I am looking into buy and hold real estate in a market which has c class properties for 30-60k, 2-4 units. The challenge I am finding is that no one will fund them. I would prefer to purchase in a c Corp but I can't even get a personal loan. The problem is not my credit score or dti but that the big banks won't do a loan this small and the small local banks won't do a loan for an out of town investor. Because these are buy and holds not flips as best I can understand private money wouldn't work. Any suggestions? 

Most Popular Reply

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9,934
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10,788
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Chris Mason
  • Lender
  • California
10,788
Votes |
9,934
Posts
Chris Mason
  • Lender
  • California
ModeratorReplied

Time to dial for dollars. Call up listing agents of $30k-$60k properties.

Listing agents love it when they know the lender anyways, so this is increasing the odds of the offer being accepted as a side bonus.

  • Chris Mason
  • Loading replies...