Financing Woes

[Sarah Grise]

I would LOVE to hear about how you've all come about obtaining the financing needed to reach, or attempt to reach your real estate goals. 

My husband and I currently own 3 properties, all of which were purchased within 2 1/2 years of each other, but....we seem to be at the end of the rope. One home equity line and installment loan later....doesn't seem like we've got anywhere else to go. We're making hefty payments on these loans (especially the LOC since it's revolving) and are staying on top of the interest charges and paying everything down ahead of schedule, and as of now these properties are keeping us very financially comfortable, buuuut...we want more. We *need* more to reach our financial goals.

How is everyone else approaching their investment property ordeals? I absolutely hate the though of selling what we have.

[Doug Pretorius]

@Sarah Grise Since you posted this in the creative finance forum I would imagine you're interested in trying something other than conventional loans (although the advice you've already received is excellent).

For me it's all about owner financing. Besides your imagination, the only limit with owner financing is your ability to find motivated sellers and negotiate deals with them. Your credit, debt ratio, and track record are rarely--if ever--an issue.