1st Rental Property

[Calistro J. Garza]

Hello,

I am in the process of placing a bid on a house built in 1949. It has been remodeled but will use inspectors. My issue, house is priced at 99k, been on the market for 386 days, I’m am offering 85k. Bank might not accept the loan because after my 20% down the loan request will be to low. I spoke to my realtor about hard money loan and she says, it’s not a good idea to use hard money loans for rentals. Please help with any suggestions, Thank you.