All Forum Posts by: Robert Walters

Thanks for the suggestion.

Yes, our realtor has already pitched the seller financing idea and got shut down....

Hello,

My wife and I are under contract on a 6-unit property in Taos, New Mexico. The property is a former bed amd breakfast recently converted to long term rentals. We are weeks away from our closing date and the lender has let us know they are unwilling to lend to us based on the fact that 2 of the units do not have kitchens. The sellers are unwilling to work with us on getting kitchens installed. We have contacted several other lenders, all with the sane response. The property is awesome, will cash flow well and has a ton of potential upside. We hate to let it go but seem to be running out of options.

Has anyone run into a similar situation and come to a creative solution? Other suggestions are welcome!

Thank you!!!

I am attempting to purchase a tri-plex in a somewhat small town. After appraisal, the bank has determined there are no comparable properties and thus no basis for the valuation and have denied the loan. This was a standard 25% down investment loan.

I am still very interested in the property. What are some alternative or creative approaches to this situation?