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Updated over 6 years ago,
Private Money for a House Hack?
My goal is to buy a 4 bed 2 bath house in the Barnum and Athmar Park area of Denver. $300-$350k seems to be the range of house that meets my criteria in this area.
The only problem is that with my debt to income ratio (student loans and a car payment) I can only qualify for about $250k.
Running the numbers I know that I would live for free and even cash flow a small amount on a property, but of course mortgage companies don't look at this when lending.
So here is my question, are there any Private Money Lenders out there willing to loan money to a young investor looking to get into his first house hack?
Or should I just wait until the Fall or Winter, in hopes that the market will soften and I can afford a house hack using a traditional lender?
Thank you in advance!
- Connor Anderson
- [email protected]
- 616-648-6353