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Updated almost 5 years ago,
Low purchase price rental loans, where are they?
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!