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Updated almost 3 years ago on . Most recent reply

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Scott Bidwell
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Getting Loans with no income??

Scott Bidwell
Posted

Hello. I am new to investing.  I am trying to find our how to get into brrrrr.  While I don't have a current income, I have good to excellent credit. 

I am in the middle of closing on my own first home, which is $450,000.  I lost my job in November.  But I have cash available, aprox 1.5m.

I would like to get conventional style lending so I can minimize my cash investments and maximize my speed to growth, and get to work on finding my first of 10 properties within 3 years.

love to get some insight,  creative ideas, or just flat out honesty of my options.  

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Joe Splitrock
  • Rental Property Investor
  • Sioux Falls, SD
18,567
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Joe Splitrock
  • Rental Property Investor
  • Sioux Falls, SD
ModeratorReplied

I am surprised you are able to close on a personal residence without being employed. I am assuming you have investment income? If not then how are you getting your current mortgage?

  • Joe Splitrock
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