Mortgage Companies, Banks, Hard Money Lenders? - Posted by Dan
Posted by Dan on March 12, 2002 at 11:35:13:
I need a little advice. I have read many books on different aspects of REI, taken a couple courses, and have gotten myself incorporated. I am ready to jump in!! Here is my current dilema; I am trying to buy bread and butter houses cheap to hold and rent. I can get approved for conventional loans, but only up to $50K, since I have my own $140K home. Should I look at other sources of financing, more creative financing (seller holding mortgage), or look at a cheaper way to get my foot in the door, like Tax Lien Certificates?
Another thing, all the money lenders I have talked to will not let me put the title to the house in my corporation, since the loans are freddie mac or fannie mae. Am I not asking them the right questions? Thanks for your advise.