I saw a couple of multi-family units in the D.C. area that I’m interested in. Some are occupied and some are not. Some need work. I would
simply like to buy them, make repairs and if I couldn’t sell them rent them out.
Plus with this market, I’m thinking that refinancing and renting them out will probably be my only recourse if I can find a hard money lender will to work with me.
My situation in a nutshell is this:
I’m presently unemployed and my husband is presently the only bread winner in the house. However, I am looking for employment;
My credit is not the best in the world;
I don’t want to use my husband in any way in my deals. I want to do them on my own;
I don’t want to take any money out of my home.
I don’t have any bankruptcies, liens.
My only outstanding debts are mortgage and student loans.
Student loans aren’t due until I finish school which will be in 2 or 3 years or
I voluntarily start to repay once I find permanent income.
What chance do I have of finding a hard money lender that will work with me?
All ideas and suggestions are welcome.
Thanks!