Self Employeed - Trying to secure first official loan

[Nick Roth]

Hey all! I am new to this community and am excited about this new journey into real estate investing. I am born and raised in Cleveland, Ohio and am looking to invest in my local market. (west side of Cleveland to be more specific) 

I am looking for any recommendations or guidance on how to secure a loan for my first investment property. I am self employee'd so it is a bit tougher to get a conventional loan. I have money saved to invest, no debt, and am a handy man. (not official contractor but can do most interior work that doesn't require license).

Ultimately, I am trying to BRRRR my properties. I'd like to live in this first property while renovations happen, and then move out and repeat the process.

I believe I need to speak with a loan officer and figure out what is possible in my situation. I apologize for any ignorance as I am super new to all of this. 

Thanks in advance for any help or tips into the right direction. Looking forward to this journey!

P.S. - if you're in Cleveland, please reach out! I'd love to connect with local investors and see if there is anyway we can help each other out!

-Nick

[Brandon Goldsmith]

Traditional financing isn't going to work so as some of the others said, you are going to want hard money for properties that need extensive work. You will be fine with being self-employed for hard money since it is asset-based. Best of luck! @Nick Roth