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Updated almost 9 years ago,

User Stats

7
Posts
3
Votes
Arthur Nunez
  • Developer
  • Sherman, TX
3
Votes |
7
Posts

Struggling to get financing!!! Own 2 rental homes - no debt

Arthur Nunez
  • Developer
  • Sherman, TX
Posted

Hi All,

I have 2 homes, free and clear, in Dickinson North Dakota that i am generating $1500 each in rent per month. I have an opportunity to build 2 more homes and sell them but I am struggling to get financing to build them. Banks are telling me that I cannot use the rental income to qualify for the loan until I have been renting for 1+ years. 

Do you have any ideas on how I could get financing to continue moving forward on building up my portfolio? Any help and suggestions would be greatly appreciated. 

Thanks, 

Arthur

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