RTRWRUBBER

Member
Joined
Nov 6, 2018
Messages
3
Hi,
I am currently thinking of purchasing a rental property. Here is a bit about my situation.

I currently own 4 homes.
#1) primary residance - value about $1.4 million / I owe $400,000
#2) rental property #1 - value about $580,000 / I owe $200,000
#3) rental property #2 - value about $85,000 / I owe $0.00
#3) rental property #3 - value about $105,000 / I owe $0.00

I would like to purchase another rental at about $200,000. I have $100,000 cash for a 50% down payment. I have very good credit.

I am having a hard time getting financing as my income is not fantastic. 2018 was under $50K and 2019 will likely be about $60K.

Any advice on how to get financing? I would think with the equity I have in my properties this would be an easy loan to get, but I have been turned down by a bank due to low income.
 

cg-consultant

Member
Joined
Jan 28, 2020
Messages
8
I recently began working with a lender who provides alternative private, non bank, real estate loans. Alternative lenders requirements are less stringent than bank loans. This lender does not do primary residence loans. They only do commercial Fix & Flip and rental loans. They may be able to do your loan since you have real estate that is free and clear to leverage the loan, depending on any other leverages on those houses with other mortgage holders. I do not charge any upfront fees for my services to connect you with this lender. I'm paid by them on the back end if a loan is taken by the borrower. If you are interested, I can immediately put you in touch with them via phone call. You only have to log on to this portal link: https://businesslendingblueprint.biz/partner/?ref=63 Once you fill out the short submission form, they will call you on the phone number you provide and discuss your loan request and answer any questions you have. If you then decide their offer is a good fit for you, they will have you fill out an application, provide them with some documents applicable to your ownership of the real estate properties you own, FICO score and whatever they may require specific to your situation. You are obvioulsy under no obligation to accept their offer if it does not meet your requirements. It's a quick process and funding can be had in 2-3 days. Also, they do not lend to a person per say. You must have a business bank account that they can electronically transfer funds to. After you speak to them, you are the one to make the final decision if you elect to fund through them. Either way, good luck to you.

Curtis Gleaves
CG Consultants

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