All Forum Posts by: Dave Bopp

Being that I am self employed and unable to get traditional financing, I am looking to go the route of seller financing. If I am able to find a turn key property, how much should I have in capital reserves to allocate to Cap Ex, NOI, etc.?

@Shane Baganz - realistically I have 15k to work with- my initial plan was to get an FHA/203k loan on a duplex or triplex, but the tax returns have been a roadblock there.

@Chris Mason, thank you for the guidance. I've reached out to roughly 10 financial institutions in my area so far- I will keep calling to see if I can make any more progress in terms of finding an REI friendly lender.

@Shawnda Velador thank you for your input as well! I am definitely interested in getting some more info about the lender you worked with in the past. I will send you a direct message. 

@Sam Alomari,

Thanks for the quick response! I'll pursue some seller financing options while trying to find another investor who might be willing to partner on a deal. I appreciate your input!

Best,

Dave

I was hoping to see if anyone had some advice regarding financing on a first time rental property. As an entrepreneur, my tax return for 2015 hasn't been strong enough to pre-approve me for a mortgage. I'm thinking that my next best options are either seller financing or hard money lenders. Are there any other options that I may have overlooked? Thanks in advance!