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Updated over 4 years ago,
Help with financing my first property
Hi everyone, I’m new to real estate investing and have come across a great property to get my foot in the door. It is a single parcel with 1 2 bed 1 bath residence I would be living in for a few months to do some minor touch ups and converting it into a rental. The property also has a duplex both rented and will need minor work.
I have tried 2 different lenders who have denied me saying it won’t be bought by Freddy or Fannie. I’m trying to avoid putting a full 20% down due to some upcoming life expenses. Seller financing is one route I’m trying to explore but this is my FIRST deal and don’t know where to start or if there are better options. Any help is greatly appreciated!