Financing - Posted by Michael

Posted by Rolfe Mpls/StP on March 18, 2000 at 15:43:19:


Too many options to list here. I’m in my third year, and I still struggle with that question. I hope to take a course, advertised at this site, in April. Check out the articles, read the posts. The “success stories” portion of this site has a plethora of financial coups. Check similar sites as well.

So far, I’ve used contract for deeds, credit cards, a line of credit secured by my home, private loans (I paid 10%, interest only, on $50k for 6 months), and a partner who invested about $200k for rehab flips. The partnership went south, and the partner did better than I, but I gained experience.

Good Luck! Rolfe

Financing - Posted by Michael

Posted by Michael on March 18, 2000 at 15:22:45:

I’m in my early twenties and finding it hard to get financing. Also, I’m self-employed. This has been a very high hurdle. Any advice?


Re: Financing - Posted by JohnBoy

Posted by JohnBoy on March 19, 2000 at 14:11:03:

What is the financing your looking for? Buy your own home, business purpose, investment properties?

How long have you been self employeed?

How is your credit?

What type of hurdles have you been running into?

Where have you been trying to get financing, banks, mortgage brokers, finance companies? Who did you talk to at these institutions, loan officers, branch managers, vice presidents, presidents, etc.? What department did you apply through, residential, commercial?

What is your goal for using financing?

Re: Financing - Posted by Craig

Posted by Craig on March 18, 2000 at 18:26:32:

There are several private investor companies working nationwide that offer more funding than you would ever need. You should seek them out. Several of their programs favor the self-employed.