Updated over 8 years ago on . Most recent reply
Best Rental/ Buy and Hold lender for lower credit
Hello! So I have been saving money and likely will have close to 35,000 saved up by the end of April. I want to buy a rental property ( Most likely a duplex or a fourplex in Ohio or Indiana). the price range I am looking to purchase is anywhere from 75,000 to about 135,000. I don't have great credit ( Credit will be in low 600's by April) but I make good money and plan to aggressively pay down the debt each year ( I would be willing to pay back about 10-20% each year I am not a huge fan of debt) . Am I better off finding a private partner to lend me money or will I qualify for a traditional loan? I don't want to pay more than 7.5% interest rate either. If anyone is aware of any lenders that would work with a lender like myself I would appreciate it if you could PM their contact info. Thanks!