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Updated over 3 years ago on . Most recent reply

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David Ruskey
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Best way to stretch a settlement

David Ruskey
Posted

First I would like to say Hello BiggerPockets Community! I have been doing a lot of research into real estate recently due to losing my job due to Covid, but I'm not sure how much I will be able to do based on lack of income. My beautiful wife was awarded a settlement, which we plan to use to buy a SFR as a primary. We have been looking at sheriff sales in order to get a good deal.
My question is, once I outright own a home, what’s the best way to leverage the value of that home to buy an investment property without a current income.

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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied
dont take on debt until you are gainfully employed or have a consistent source of income..  Unless your just going to flip properties.. investment rentals are not going to help you in the short term.. 
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JLH Capital Partners

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