Rental Income Loan options for me

[Noah Garcia]

Hello, I own a quadplex in Tampa. 3/1, (2) 2/1's and a 1/1. I am currently rehabbing the 3/1 and the other units are fully rehabbed and rented for a combined total rent of $2,900/month. Once finished with the 3/1 total monthly rent will be over $4,500/month. I floated a lot of the rehab with my credit cards and have unfortunately taken a huge hit to my credit score for utilization. I make all payments on time, its just the usage that cause my score to plummet from near 800 when I bought it to below the 640 I need to refinance. Does anybody have any creative financing options available for a situation like this? I owe less than $150k on my loan and there are triplexes and quadplexes selling for the low to mid $400,000's. Using a score calculator once I pay the roughly $65k in credit card debt my score will increase to 804. I am very low credit risk despite my situation.