How Will We Get The Financing We Need??
I am a newbie and have a question that I cant seem to find the answer for:
My brother and I are starting up a company investing in real estate. We wil: purchase, rehab and sell ; purchase and rent; and flip properties (also foreclosures).
We have an initial investment amount of about $60k , and both have very good credit (high 600's, low 700's).
This being said, how are we to obtain the financing necessary to hold many properties. Assuming we are not lease optioning and have little seller assisted financing (seems very hard to do in New York), who will extend all of the credit to us?? 
With good credit and that much cash in hand, you shouldn't have any trouble getting financing. There are lenders that do high LTV investor loans. Almost any broker will be able to find 90% financing for you, if not higher. I've found 100%. And there are many programs that will allow multiple properties.
There is a lender section on this website, you might look there to see who lends in your state.
I know a broker in Long Island who is very investor friendly. Send me an email, and I will give you his contact information.
Best of Luck,
Trisha
trisha,
thank you for the reply, i would like to email you. Being a newbie, i dont know how to locate your email, mine is **Please See My Profile** can you please email me. thank you
It is hard to get financing when you are a new company. The finance industry does not recognize Real Estate Investing as a job. It is recognized as an INVESTMENT, most people do not realize this. I tell people DO NOT quit your day job not matter what it is. Take it slowly. I know 5 people who had to file a BK because they took out all of these mortgages and the tenants didn't pay, something happened, ect. I have never been completely self-employed ever. So if you are in this for the long haul as you state. Sit down, make a realistic business plan and proceed. Some people do make it big overnight, 95% of people don't.
Good Luck
Lori
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