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All Forum Posts by: Robert Godfrey

Robert Godfrey has started 4 posts and replied 21 times.

Starting Out

Post: TALK ME OFF THE LEDGE-Trying really hard to get started

Robert GodfreyPosted
  • Posts 21
  • Votes 7

Yolanda, how many hard money lenders have you tried? 

1) I would keep trying (aim for 10 to start) if they're not doing hard inquiries on your credit. Different lenders can have very different lending requirements based on your profile, don't give up just because one has rejected you. 

2) How much equity do you have on your current property? Is a HELOC loan an option for your next buy and hold (I've heard there are less stringent requirements for HELOCs since they directly secured)?

3) Do you have any retirement accounts, specifically 401k? You should be able to take a loan against that which can help bridge the gap. 

1 Vote