A rental home in a nice location — whether a single-family home, a townhome, a duplex, a triplex, or a fourplex — can be quite a rewarding investment decision for any real estate investor looking for steady monthly cash flow and a secure financial future. A handful of investors go with an all-cash acquisition of a property, while other people prefer to finance their investments with Wichita rental property loans. But if you are self-employed or possess a weak credit score, it can often be very difficult to get a conventional lending institution to consent to financing your upcoming investment. Also, the majority of banks have an approval process that is rather long and drawn out, meaning that a fast closing is nearly impossible. But finding a mortgage loan for a rental property is not as challenging as you may think.

Various private companies or individuals make rental home loans in Wichita available, which may be put into use by borrowers for buying a new investment rental property or to refi an earlier mortgage. Even when a real estate investor does not have a good credit score, even so he stands a good chance to be approved for these forms of short-term loans with rates beginning at 10%, presuming that the borrower is familiar with dealing with rental homes and the property has a real chance to generate consistent cash flow. What's more, Wichita rental property loans, besides being easy to qualify for, are additionally fast closing, which helps you finalize lucrative real estate transactions without delay.

For instance, a self-employed real estate agent in South Carolina once got into contact with Read Rock Capital for rental property financing to buy a single-family home. The nature of her profession, being self-employed, dramatically reduced her chances of being approved for a mortgage loan from a bank, in spite of the fact she maintained an exceptional credit score and was prepared to provide 30% for the deposit. And yet she couldn't allow this once-in-a-lifetime opportunity to go to waste. With the down payment and property appraisal, Read Rock Capital had no trouble giving her a private home loan to enable her to make the most of this outstanding opportunity.

A lot of investors also execute a cash-out refi on their existing properties and assets to make use of the equity in them for a different purchase or to pay off some other unpaid debt. Among Read Rock Capital's clients was someone who owned a rental condo clear and outright. He was a self-employed individual and was unable to pay his credit cards in over a month. He finalized a cash-out refinance on the place to pay down his credit cards and allowed himself a bit of space to breathe since the new payment was paid by his rental income from the condo.

Determining the right Wichita rental property mortgage lender who is aware of your needs and the broader framework of real estate investing is a significant step to a prosperous purchase decision. Fill out the contact form on this page or give us a call, to discuss your property.