New Guy from Jacksonville, Florida

[Douglas C.]

Hey Everyone. I'm new to real estate investing and I am looking to purchase a SFH as a rental property. I like the idea of using leverage to enhance returns, although I have been told by local agents (and wholesellers) that financial institutions are not going to work with new investors on purchasing their first property. I hope to get a good deal on the property AND use financing as means to increase returns. I've explored turnkey rentals in Jacksonville, but those properties don't match up well with the comps. Without any experience in real estate, I am looking to learn more here on BP and through networking with other investors in the area.

[Carlos Rovira]

Douglas C.
I suspect that the individuals that told you that most likely did so because they didn't want to help you, since you are new to this business. If you have good credit and steady income, there is no reason why a bank wouldn't lend to you. My first real estate purchase ever was a duplex and I qualified perfectly fine, regardless of how new I was to investing.

Start reaching out to some local banks. Walk into a branch and talk to a relationship banker. Find a banker who is also just starting out and you can both help each other. He/She will be more incentivized to help you, in order to gain experience, which will be mutually beneficial to both of you.

Good luck!