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Updated almost 9 years ago on . Most recent reply
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New member looking for financing tips!
Good afternoon bigger pockets,
I am a 21 year old who recently became a licensed real estate agent in the state of Pennsylvania and have been interested in investing in real estate property for some time now. This site has taught me a lot about the business and has kept me motivated through some rough patches. I had a deal on a duplex for 80k a year back and was pre-approved for a loan higher than that, but once the contract was being written my financing fell through due an unbalance income-debt ratio.
So this post is to introduce myself and ask for suggestions and ideas as how to get a loan other than a conventional or FHA bank loan.
One idea I have been trying to get more info on is a Private money lender. What should be presented to a private money investor in terms of deal details. I feel this process will be similar to finding real estate listings. It comes down to selling myself and my plan to make them money. What should I include in my portfolio and what tips could you offer to a new investor like myself?
Thanks for reading, and I appreciate your comments!