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Updated almost 3 years ago,
Self Employeed - Trying to secure first official loan
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