Real stories wanted to gain some confidence
I'm just shy of 40. I have 8 doors in my LLC (4plex, 3plex, SFR). I want 40 doors, but life took a turn and I had to put my RE journey to the side. Now, I'm back to where I need to be, and I'm confident that I know the game well enough to step-up my acquisitions--i.e., I am confident I can take on larger properties and turn a profit. I found a16-unit complex for sale and I think it's the one for me. The trouble is, I can't go to the traditional bank because I am not able to put down enough cash. I have 100% equity in all of my properties; but, traditional banks won't touch it as collateral. So, I am looking at alternatives. So far, hard lending seems the route to go; but I'm afraid of the rates and the fact I want everything to go through my LLC will turn lenders away. Does anyone have a story they can share to give me some hope?