It was a personal referral, received a credit at closing for renovations as well How did you finance this deal?

Most ideal would be seller financing, but open to creative strategies for a cash-flowing property. 

Here is some key information:Property recently hit the market and has 2 cash offers alreadyThe seller provided a pre-inspection report, which I shared with 2 different lenders, both think it may fail conventional financing due to potential structural and electrical issues (realtor thinks it could pass conventional)Seller has 100% equity but is behind on other payments (not sure of the urgency money is needed)This is my first attempt at an “investment” property so I’m new to thisI see 3 optionsMove forward with an offer using conventional loan pre-qualification-Not as attractive of an offer to the seller-Possibility that appraiser calls out structural/electrical issues that need to be fixed before closing, effectively causing financing to fail- Best terms and fewest loan fees for meUse a rehab style loan such as ChoiceRenovation-Even less attractive than a conventional offer to seller, but less risk of failed financing if appraiser calls out issues-Slightly worse fees and interest rates compared to conventional-Lenders tell me possibly up to 60-90 days closing in some cases, with red-tape for contractor requirements and draw schedules (sounds like the most hoops to jump through during rehab)Use a hard money lender-Most attractive loan option I can give to seller so I can compete-Much higher fees and interest rate for me-need to refinance into a conventional at the end of rehab (not familiar with seasoning periods but I think this is a factor as well)Which option would you do?

To thrive in real estate investing, you must maintain a firm grip on your finances.

While BRRRR works for scaling, explore turnkey rentals or creative financing in cash flow-heavy markets to accelerate growth.This post does not create a CPA-Client relationship.

To thrive in real estate investing, you must maintain a firm grip on your finances.

Lau, generally if you are financing with a commercial lender- we lend for business purpose only and a rental property would fall under that category.

We know that investing in real estate means building a business that incorporates the right investment strategy, tax & legal plan, financing, retirement planning, insurance & estate planning. 

Plus you can't typically get conventional financing because they want to finance to a person, not an entity.

A national bank will work in concert with the local town to determine financing.