The borrower was overqualified and based on compensating factors we presented a local credit union financed it with 25% down in 30 days.

Poor financing terms can be beaten, of course we all want the lowest possible rate, max leverage, and low closing costs. 

Kevin, I can help steer you into the right path if you can share your credit score and your capital situation.Hard to advise someone without knowing what tools they have to start with, and sometimes getting ready for deal 1 is what is needed to work on.Welcome!

Both options are Credit Unions - no points, no origination fee1.

It was a great first project, I had some old friends reach out that were losing their house and I helped them get out from under the PML, bought the house and helped them repair their credit, got a contractor I knew that lived around the corner help me do a full gut rehab and put in about 1,500 hrs of my own labor into it.

Additionally, you'll have business income showing up and might qualify for some business lines of credit to tap into as well.

Credit cards - store specific, general business expenses, etc.Any POV you have on what has worked for you would be great!

We were able to get a home equity line of credit, so if we wanted to, we could essentially put no money down and use the income from the property to pay this and the mortgage off.

My work around was to find a 75 year old dude with no credit and no assets, who wanted a new truck.

They have utilized a number of financing approaches including: Minnesota Housing Finance Agency Tax Credits, Conventional, Grants through Duluth Economic Development Authority (DEDA), Duluth Housing & Redevelopment Authority (HRA) Assistance.Sharon Brown with Duluth's Life Safety office is a great resource as well when dealing with blighted properties.