Ways to purchase rental properties w/o a conventional loan

[Marie Lyons]

Hello,

I am looking for information on any and all ways to get funding to purchase rental properties besides getting a conventional loan. When I first started investing I decided to use my own money to buy and sell properties at auctions to build capital. That capital would then be used for buy rental properties here in Vegas for passive income. I thought by going about things this way I would never have to get another loan. My first experience with conventional lending last year was down right ridiculous and now that I think about it possibly criminal. Yes, it was that bad. I am finding that going about raising capital in this manner takes large chunks of money that cannot be freed up till the property sells. So after the third property that would have been a great deal but I missed out because most of my money is tied up, I thought maybe I should give OPM another chance. I am aware of hard money but that doesn't seem like a good idea for a long term loan. Any advice or info would be greatly appreciated.

[Cameron Sharp]

I recommend doing seller finance option for long term properties if the conventional loans are not in your strategy.

You're right about Hard Money, too expensive and most, if not all of them, will not do long term financing.

Good luck,