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Updated about 5 years ago on . Most recent reply

User Stats

11
Posts
5
Votes
Scott Randall
  • Tampa, FL
5
Votes |
11
Posts

Low purchase price rental loans, where are they?

Scott Randall
  • Tampa, FL
Posted

Hi there - I'm a seasoned flipper who is getting into my first buy-and-hold. $55k purchase price, turn key, vacant (current tenant is moving out before closing). When I reached out to my lenders I learned they all have min loan amounts of $70k-$75k! So now I'm stuck having to close on it with my cash, and refi, which I was hoping to not have to do. (or sell it I suppose)

How do people usually finance these low cost rentals?


Cheers, Happy Investing! 

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