Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 5 years ago,
Advice finding first rental Funding!
Hello out there no family!
Looking for advice on the best way to fund my first rental deal.
Property is currently owend by a relative. They have moved out of country and are looking to unload the sfr as soon as possible. I'm a broker so naturally they contacted me to make this happen.
I would really like to purchase the property myself as the area is swiftly up and coming and they offered it to me for %20 under what I feel the resale value is.
My problem is :
• that the loan amount would be to small making this a high priced loan(no traditional lender wants to touch it)
• creative is out as they want to cash out as quickly as possible
• I don't have the liquid capital to purchase outright
Any suggestions would be greatly appreciated!