Rental Property Financing

[BizPrep]

Went to Scott Mcgilv's workshop the other day! It was inspiring...

I currently work a shitty job and have two rental properties. I've always played it safe and have a net worth of approximately 500k at 29. Looking to change my ways and begin using leverage as my friend.

It is annoying and difficult to get additional mortgages as banks and most conventional lenders do not really look at cash flow from rental properties. They consider properties as breakeven. I am looking for other routes for financing. Keep in mind that im not willing to accept an 8% private loan as I have equity and am low risk.

Any ideas are welcome! Thanks for the input in advance.

 

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[MetalGear]

Went to Scott Mcgilv's workshop the other day! It was inspiring...

I currently work a shitty job and have two rental properties. I've always played it safe and have a net worth of approximately 500k at 29. Looking to change my ways and begin using leverage as my friend.

It is annoying and difficult to get additional mortgages as banks and most conventional lenders do not really look at cash flow from rental properties. They consider properties as breakeven. I am looking for other routes for financing. Keep in mind that im not willing to accept an 8% private loan as I have equity and am low risk.

Any ideas are welcome! Thanks for the input in advance.

Have you tried community banks? That's plenty of cash to work with.

 

[Rwill]

Went to Scott Mcgilv's workshop the other day! It was inspiring...

I currently work a shitty job and have two rental properties. I've always played it safe and have a net worth of approximately 500k at 29. Looking to change my ways and begin using leverage as my friend.

It is annoying and difficult to get additional mortgages as banks and most conventional lenders do not really look at cash flow from rental properties. They consider properties as breakeven. I am looking for other routes for financing. Keep in mind that im not willing to accept an 8% private loan as I have equity and am low risk.

Any ideas are welcome! Thanks for the input in advance.

I've bought a place that needed work in the past, and was for sale for less than the assessed value.
After a sizable renovation, I was able to re mortgage and pull back out the cost of the reno. If the spread on the purchase price and assessment was enough, I could also pull most of my deposit back out of the house.
If I could find another then I could repeat.

Hot market here so the numbers here worked.

 

[Muller21QQQ]

I think it will nice for you to have some rentals somewhere on the shore. I mean, you have to pick a country with a huge amount of tourists, even in the summer season. You can buy a couple apartments and rent them. You will make some decent money, I am pretty sure about that. To be honest, I think there is no better offer than having a couple of new-built apartments on the black sea shore, in a country named Bulgaria. It's a European country and there are a lot of tourists in the summer season. You will be able to buy some apartments, they cost nearly 60000. Yes, 60000 that's awesome for an apartment on the sea shore. You can find all those offers here Suprimmo.net You can even have a house or you can even buy a shop. Take a look, this could be the best route for investing

 

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