I have a young man that has been on his job for 4 years and has a 724 middle score has 3 trade linds but he has not had them long enough he also lives with his parents (19) years old but focuses he wants to be a land lord so he is tring to get into his frist house we sre looking for a private lender (s) qualified for 55k and wants to put cash in his pocket the deal is set with a house and it has tennants it can be purchased for 30k so would appreciate any and all input/ideas.
good luck finding someone to lend your $55K for a $30K house. probably not gonna happen. why not call a HML and just get the purchase money and forget the icing on the cake for now.
provide some more info regarding the borrower and deal. wheres the house located? is it a rehab job? does the borrow have a job? you said his credit is good so thats a start… does he have a cosigner? is the prop occupied or vacant? does the borrow have money to put down or somewhere to get a DP from? etc etc