I still have that house and it rents for a grand these days. my first house was late 70s that I bought  in those days it was 80 10 and 10  you need 10% cash and normally a private HML would give you the 10% second and bank was the first.. interest on the first was 9% second was 15%.. this was before the Carter interest rate run up.. paid 80k for it in Milpitas CA.. and it was brand new bought it from Shapel . 

I used a private lendor to fund the re-hab (cash) and owner financed the purchase price (minus down payment) I have a bank account linked to Stessa and I see the cash deposit in the transaction tab. 

Big cities tend to have more regulations, more crime, more leftist-leaning policies that hurt investors and private property rights, etc.

Private lenders or even creating a small syndicate with a group of investors might also be worth exploring, especially since you can point to your uncle’s track record and your own experience managing rentals as a selling point.If timing is tight, you could look into a bridge loan to secure the property while figuring out a more permanent solution.

My mark up is always lower than the direct lender because I don't spend money advertising during the Super Bowl or buying a private jet for my CEO, and we don't have layers of management we need to pay.

Your post highlights how much time and money BASELANE can save.

This being said, I don't believe we'll be able to meet the income requirements to qualify for a conventional.This leads me to believe hard money or private lender is more the only option to get my foot in the door, use my business to make repairs at very good rates, build some equity then refi once the balloon is due. 

I have been in many properties where private pay people rented and trashed the place. 

., you will come out on top just take a bit longer so you need to underwrite that in mind.If the former, I would do a combination of fixed income, private lending, and note buying and trade the arb.

Hello everyone, I have recently gone under contract on a property and was able to agree to a private loan with a family member to purchase and renovate.