I've found that lenders who handle non-traditional loans often have more flexibility if you clearly demonstrate the property's strong fundamentals. Yes, caution matters...but too rigid an approach can mean missing out on genuinely good deals. Balance is key, in my experience.
Totally agree, flexibility can really open doors. I've seen deals where the property's location or rental history made all the difference in convincing a lender to step outside their usual criteria. Sometimes numbers alone don't tell the whole story...
Haha, true enough—numbers can be sneaky little things, can't they? Ever had a lender look at you like you're speaking Klingon when you try to explain why a property's "charm" or "potential" should count for something? I once had a place that looked like it was straight out of a horror movie (seriously, cobwebs and creaky doors included), but the location was gold. Took some convincing, but eventually the lender saw past the creepy vibes and realized renters would line up just for the neighborhood alone.
But here's my question: how do you even start that conversation with lenders who seem glued to their spreadsheets? Do you casually slip in, "Hey, ignore the numbers for a sec and trust me on this one"? Or is there some secret handshake I'm missing here...?
Honestly, I get your point about charm and potential, but lenders aren't paid to trust our gut feelings—they're looking at cold, hard numbers because that's their safety net. Instead of asking them to ignore the numbers, maybe it's better to translate that "potential" into something tangible they can measure—like comps in the neighborhood or solid rental demand stats. I've found lenders loosen up when you speak their language a bit more... even if it feels frustratingly rigid at times.
"I've found lenders loosen up when you speak their language a bit more... even if it feels frustratingly rigid at times."
Haha, isn't that the truth? I swear, dealing with lenders is like trying to convince my cat to take medicine—gotta wrap it in something tasty they recognize or it's just not happening. Hang in there, you're on the right track!
