Updated about 5 years ago on . Most recent reply
Porfolio Loans under $50k??
Hello my partner and I are looking at a SFR condo that is priced in he $35-$40k range. We love the numbers as the rents are $1100 per month with a long term tenant. However, we realize that this price range isn't something lenders typically go for. Does anyone have experience or advice in getting portfolio loans in this range. Is that something worth pursuing?
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Not too much, I did find some lenders that would lend personal mortgages within my area. As I am close to the Northwest Indiana region, the regional lenders there have some lower minimums. However, I didn't find too many options in terms of Portfolio lenders.
I didn't end up purchasing the above deal as the inspection proved to be a disaster.