Rental Property Financing in Pasadena

A rental home in a good area — whether a SFH, a condo, a duplex, a triplex, or a fourplex — is often a worthwhile investment for any real estate investor looking for regular monthly cash flow and a stable personal financial outlook for years to come. While some people can pay all cash to purchase their homes, another option is to try to obtain a rental property loan in Pasadena. However, in case you happen to be self-employed or have a sub-optimal credit score, it can often be very challenging to get the go-ahead from a standard lender like a bank to finance your next investment. And most banks have a rather long loan approval process, which may impede the likelihood of executing a successful deal, particularly when the sellers are seeking a fast closing. But finding a mortgage loan for a rental property is not as challenging as you might imagine.

Many real estate investors go with a rental home loan in Pasadena from private financial firms to fund their new investment rental property or to refinance an existing home loan. Even if a real estate investor does not possess a great credit score, even so he has a good chance at being approved for these short-term loans with lending rates starting out at 10%, presuming that the individual is familiar with taking care of rental properties and the property has a good potential to create consistent revenue. To put it briefly, the easy qualifying and fast closing Pasadena rental property loans from private mortgage companies will help you capitalize on every lucrative real estate opportunity that comes your way.

As an example, a self-employed real estate broker in South Carolina once got into contact with Read Rock Capital for rental property financing to purchase a single-family home. While she maintained a great credit score and had sufficient working capital to make a 30% down payment, she had a low prospect of qualifying for a regular bank loan, seeing as she was self-employed. But she didn't want to let this incredible investment opportunity be squandered. When she got in touch with Read Rock Capital, the 30% deposit and a favorable rental market assessment worked out to her advantage and enabled her to obtain the money she needed to close on the purchase triumphantly.

A great many real estate investors also swap out an old home loan for a brand new one so that they can recuperate the equity in their existing investment properties. Read Rock Capital in the past had a borrower who had paid off a rental condo. He didn't have a typical salaried job with dependable cash flow and was overdue for his credit card payments by more than month. He finalized a cash-out refinance on the place to pay down his credit cards and allowed himself a bit of breathing room since the new payment was paid by his monthly cash flow via the rental condo.

You're off to a nice start when you have come across the ideal Pasadena rental property mortgage lender to make a loan on your real estate venture. Submit the form on this page or get in touch with us via phone, and let's discuss the property you have in mind.

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Investment property loans only please, no primary residences at this time.