Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. 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 4 years ago,

User Stats

3
Posts
0
Votes
Christy Kupiec
  • Investor
  • Texas
0
Votes |
3
Posts

Advise needed on starting over

Christy Kupiec
  • Investor
  • Texas
Posted

I am a seasoned investor but after a divorce my ability to qualify for investments with his income being a backup is no longer available to me.

I am having to start all over. My only income now is coming from two commercial properties I sold on seller financing back in 2009. Unfortunately those payments are ending soon and I need to get something into the pipeline. I have secured a sfh in Texas on acreage and plan on doing a BRRRR. Here are the lending obstacles I have come across in the past two days after signing the contract: 1.) Sorry we don't loan on rural properties

2.) Sorry we will need 30% down plus points..

3.) Sorry you will need to show that your income will continue for at least 5 years.

4.) Sorry you will need 2-3 months of reserves plus 25% down

5.) Sorry we only loan on the appraised value or the purchase price - whichever is lower- it doesn't matter if you got a great deal

What should I do next? 

Am I am looking in the wrong places?

Loading replies...