Don’t qualify for traditional loan but have 40k saved

[Scott Westlake]

I have saved 40k of money that I would like to invest to start in my real estate career. I am in an interesting spot where I don’t qualify for traditional loans and am asking for advise on what my options are for my future.

Here is a brief summary of where I am at:

I have a degree in Mechanical Engineering and specialize in working and operating shipping vessels where I worked for a couple years. I then took a year off work to learn more about real estate and get hands on experience with the construction side. I took my year off because I had an investor who I was working with and wanted to flip homes with me, but through COVID he backed out due to uncertainty. This year (Jan 2021) I currently moved and work on a ship in Bay Area, California.

I work on ships where I am able to live on them rent free. I worked hard and have bought everything cash and have not built enough credit lines to get a loan from the bank. (I have two lines of credit that they will except. Car insurance and a credit card payments)