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Updated almost 10 years ago, 01/20/2015
Help with a portfolio lender
I am in a bizarre situation. I own more than 20 units but acquired them all last year. I've had some for only 2-3 months. There are eleven buildings, half were cash purchases and half have conventional 30 years. I have two years of tax returns, but it take advantage of all my writeoffs, so they only say 13k and 13k. I cashflow much more than that, obviously.
I quit my 50k salaried finance job last year and took a job in oil and gas. The base for this job is 24k/year but we get day rate bonuses that drives this up to 120-150k per year.
I am struggling to find financing. I will be acquiring new properties in June. I don't think I will be able to go conventional. Does anyone have a good portfolio lender who would work with me? I have to finance and stop buying in cash if I want to grow.