Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. 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.
Creative Real Estate Financing
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 about 9 years ago on . Most recent reply

User Stats

8
Posts
2
Votes
KANE WHITESIDE
  • Investor
  • Cohutta, GA
2
Votes |
8
Posts

Self employed, best way or best lender for rental properties?

KANE WHITESIDE
  • Investor
  • Cohutta, GA
Posted

I have a couple of rental properties in Atlanta I am trying to get long term loans for and having trouble with conventional loans because I am self employed.  I have one rental property in Chattanooga that I have purchased using my home equity line of credit from my primary residence.  My credit is decent like 650-700 range, I have money to put down, its just finding the right place or the best way to get them financed,  Does any one have any ideas or advice that migfh

Most Popular Reply

User Stats

41
Posts
14
Votes
Luke Holcomb
  • Investor & Wholesaler
  • Chattanooga, TN
14
Votes |
41
Posts
Luke Holcomb
  • Investor & Wholesaler
  • Chattanooga, TN
Replied

@KANE WHITESIDE I would talk to @Jimmy Moncrief, he is a local portfolio lender and loves making loans. There are other portfolio lenders in town, any small/ local bank will have one. Being self employed is less of an issue as they are not securitizing and selling their loans (this is why you run into strict guidelines with larger banks). The big deal with being self employed is that they are going to look at your past 2-3 years of tax returns. Being a small business owner, they will look smaller than they actually are. But, these guys understand this and are equipped to deal with it. 

happy hunting! 

 -Luke

Loading replies...