It is so much harder for investors to get loans today. And yet people are looking for nice rentals. Currently all of my rental properties are full and I would like to buy a couple more if I could get the bank to loosen the purse strings and we have been doing this a long time and have credit.
You need to present yourself in the best light. The last vacant home I had, the current tenant paid me for multiple months up front had no pets and did not smoke.... more
Check with a local mortgage company and inquire about refinancing your ALHFA loan into an investment property loan. If you have enough equity in it and income to support the investment loan plus a new home loan, this might work out.
If you do not qualify for refinancing, your alternatives are to sell your present home at some price before making a purchase offer on another home, or walking away and defaulting on your current mortgage, which will result in foreclosure and pretty much destroy your credit. This will make it pretty much impossible to get another home mortgage to buy the larger home you want. Sometimes a foreclosure is unavoidable, but if you can make do with your current home until you get more paid off on the mortgage your credit will actually be stronger and you will be in a better position to upgrade to a larger home at some point in the future.
You can visit my website at www.chad-edwards.com and view all the homes listed in the Birmingham area. I would be happy to meet with you and assist you with your search. Please feel free to contact me through my website or by calling 205-999-3989.... more
You have to be a Real Estate agent. If your home is already listed with an agent have him/her to list it on this site. If you don't have an agent I would be happy to help...I am a Real Estate agent in the state of Alabama, and with a National Real Estate company Keller Williams...and can provide help to any one in the US. YOu can leave your contact info on the my website...www.marlinandteacha.com or email me your info at firstname.lastname@example.org... more