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.

I've read through the notes on the conversations you had with my team as well as pulling real numbers on your maintenance and property turn costs and your lease terms.

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.

@Tim Horning correct but Ithaca already passed good cause so get ahead of it by having conversations with your town council members before their opinions on it become ossified

Quote from @Bob Dole: Funny, my CPA called me yesterday to discuss the cost segregation and RE professional.His thoughts from our conversation:-Cost segregation makes sense to maximize deductions now. 

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.

Based on conversations, I think it might be a little of #2.