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Updated almost 10 years ago on . Most recent reply
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alternative funding sources?
So, I'm looking for information/suggestions on getting started raising private capital to buy more properties in Philly. I have a credit score right around 800, own 3 properties outright in Philly, have significant equity in two other houses in the Seattle area and a have a commercial property as well in Yakima, WA (great little investment that's been doing nothing but make money for almost 8 years). My issue with traditional lenders is that I had some stock market losses last year and the lender I was working with didn't like my K-1, which is understandable but frustrating that anything I want to do ties up so much cash. It's also insane to me that these guys won't let me borrow against properties that I currently have 100% equity in with my current guaranteed income and credit score. Other than a couple of pieces of real estate and credit cards I pay off each month, I have zero debt. Hard money is a nonstarter for obvious reasons. So yeah - I would love to buy more properties in Philly - I think it's a gold mine (I can't even believe the deals I'm finding there). If anyone has ideas, knows people that want to invest in Philly, etc., please let me know. Thanks.