Landlord Question and Answer Forum

I've been turned down by several mortgage lenders for a new mortgage, as they don't like how many properties and mortgages I already have? Any advice on alternate funding options? Anyone actually use crowdfunding sites to buy a property before?

I've used a credit card to finance a real estate purchase before. It worked, but it was stressful. I bought a house pretty cheap, and renovated it, but the renovations ended up taking three times as long and twice as expensive as originally quoted by the contractor. There were some scary months when my credit card balance was dangerously high. Haven't tried crowdfunding websites yet, nice concept but the loan limits are pretty low in the context of real estate investing. The highest I've seen is $35,000. There was actually an article recently published on this website that got into funding options, not sure if they'll let me post a link on here or not but here's a try: https://www.ezlandlordforms.com/articles/educational/2/597/real-estate-investing-101-with-industry-expert-paul-cohen-esq/

Posted by Phil W, MA on Sunday, October 18, 2015

Why go to a bank? When you can be the bank..anyway if the Lender is turning you down that either means you don't have enough reserves and or not enough equity..maybe both..do you have any retirement accounts those funds can be used as reserves..

Posted by Douglas L, OH on Sunday, October 18, 2015

20

Posted by jahfwkwi j, on Wednesday, April 3, 2019

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Posted by jahfwkwi j, on Wednesday, April 3, 2019