Hi BP members,
Wanted to introduce myself.
New investor learning the ropes and concentrating on SE Florida area. Reading the beginners guide to familiarize myself with the information contained in it.
Just found a condo (short sale), made an offer and waiting to see if it's accepted or if I need to go higher with my offer.
Here's where I'm hoping for some help. Looking to get pre approved for ~$90k and will be putting $22k down. Seems in FL some or many lenders do not finance condo's for investment purposes. So a couple of questions.
1) Have others run into this?
2) What have members done to get around this?
3) Can anyone point me to a listing of lenders that may entertain loaning at conventional or very near conventional rates for investment.
I can go all cash with this deal but obviously this wouldn't make sense from an investors standpoint. as it would reduce my reserves for further investment properties
Any suggestions??
Many Thanks,
Roger
