Looking for advice on financing a rental property
Hello,
I am a newly Real Estate investor and believe I have found my first rental property to purchase but am running into a small road block so I came here to ask for advice. The property I have found is a 100k asking price with about 40k rehab cost to turn into a rental property. I have about 30k saved up to put into this property as well.
I would like to ask for some advice to what anybody would think would be the best way to finance this property.
My other issue that I am getting when speaking to mortgage lenders is that I am a professional athlete where I play overseas basketball. My contracts are usually one year deals, 7-10 months long, and than come home for the summer and look for new deals to go back overseas. Mortgage lenders are explaining to me that it would be tough to get a loan because I won’t have any current or consistent proof of income, even though my credit is good. If anybody can help me find a way to work around this that would be great help.
Thank you,
Tyler