Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago on . Most recent reply

User Stats

2
Posts
1
Votes
May Lee
  • Richmond, VA
1
Votes |
2
Posts

Who Can Get a "Rental 30" During Covid? (Longterm Rental Loan)

May Lee
  • Richmond, VA
Posted

With secondary lending markets drying up (Lending One, Lima One, PeerStreet, etc.) I need guidance. I have a short-term  acquisition/rehab loan on a duplex I've just about completed, with one unit already getting cashflow. I've spoken with my private money lender and he's more than willing to extend the maturity date of the loan. That same lender would normally have converted me over to a Rental30, but now he can't. Now I'm ready to convert to long-term lending, and have done this many times before. But. Times. Have. Changed. Where are you guys finding people willing to a 15- to 30-year loan on your rentals right now? I have 700+ credit and am highly experienced, but un-experienced in borrowing during a viral pandemic. Please offer ideas, leads, contacts, or help me re-frame the situation...

Loading replies...