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Updated over 3 years ago on . Most recent reply
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Can’t get a loan cause I’m under the 2 year rule for banks!
Hi! So I’ve been listening to the podcast and interested in investing real estate for a few years now. My problem for so long has been the lack of income, I took some chances and struggled for a bit but after changing jobs a few times I landed a good sales job where I can typically make 1.5k-5K a week after taxes. I reached out to about 3 banks so far and it’s the same problem every time. Since I don’t have at least 2 years at the same type of job I would have to wait. So now my problem is the opposite from before, I can raise capital to put money down for a rental property but I don’t got the time anymore. I would really like to not have to wait another two years before getting my first investment property, does anyone have any recommendations as to what I can do? Appreciate any feedback!!
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If you are stuck and cant get a loan, but make the money needed you may think about partnering with someone who needs the down payment money and can get a loan. You bring the money, they bring the ability to get loan.