They seem to be willing to lend on the project but so far they've required someone in the LLC to have 5 new builds under their belt as experience.

They seem to be willing to lend on the project but so far they've required someone in the LLC to have 5 new builds under their belt as experience.

I had to go 30 mins north of the city, but it allowed me to get 2 duplexes under my belt.

But mobile homes are not included.The only way to establish the efficiency of the envelope is a HERS test using a blower door and measuring how many cubic ft a minute it takes to pressurize the envelope to 50 Pascal.

They just started lending in 2018 with a purchase of another mortgage company so not much time under their belt from creation date.My opinion is if you put your buyers or your own business in the hands of a fairly new lender and expect great things it may not turn out as planned.

Later when you have some experience under your belt and can move quicker, then you can then buy from wholesalers. 

That said, creative financing is a great tool in the tool belt right now, but that doesn't take away the need to raise private cash. 

My wife and I (mid-40s) are motivated W2 earners with a rental property under our belts, eager to expand our real estate portfolio and create significant passive income.

If you can get a couple of 2-4 units under your belt this year...it's likely you could be set up well next year to make the jump. 

I've seen others do well starting out with small multifamily deals and this particular one was a low cost entry point with a decent COC return given the market and we knew getting the first deal under our belt was hugely important.