All Forum Posts by: Brian Hopton

 Hi Kristen, 

I have not considered a bank statement loan or have heard of it before.  But this sounds like something that could work for me.  If I have a partner would a bank statement loan still work? Would we both have to show our bank statements if we are both funding the investment? I see that you are a lender with One Nation Home Loans is this something that your or another loan officer could assist me with?

 Hey Samantha, 

Thank you for responding. My goal is to either find a buy & hold or BRRRR strategy property. I have heard of seller financing or subject to property before, but not sure where to look. Do you use a specific site to find these kind of properties or would you suggest looking at foreclosed houses and going from there. I think a hard money lender would be a good strategy to help me fund the deal, but I am worried about the back end and not being able to find a lender after the house is rehabbed.

Thank you for the "guide" as well I will for sure be taking a look at that!! 
 

I have recently been looking to secure financing for my first investment property, but have been running into loan issues. Anytime I have spoken with a lender I can not get approved because I have recently become a 1099 employee. I work on boats so my industry is kind of unique when it comes to employment status. On my previous boat I was a W2 employee for over 2 years, but have recently started working on a new boat that is not managed by and American company making me a 1099 employee. I have been getting the same answers from lenders that I need to show at least one year, preferably 2 years, of self employment history in order to qualify for an FHA or conventional loan even though I have been working in the same industry for over 4 years now. I have also tried to inquire about an investment loan and having to put down 20%, but have been having no luck either. They do not want to lend to a first time investor with no history. Any suggestions on how I can secure financing or know of a mortgage broker that is willing to work with a first time investor. I know my situation may sound a little confusing, but any guidance or suggestions would be greatly appreciated. Thank you!!!

I am just starting off my real estate journey and currently looking to buy my first investment property.  I am having trouble understanding how to underwrite properties and see if they are a good investment and can be cash flowing.  I am wondering if anyone can help me find a good underwriting spread sheet that can help analyze different properties?  I have also heard of online groups that specifically focus on underwriting, are there any good websites or groups anyone could recommend as well?  

Thank you!!