Searching for No Income Loan

[Melanie Nunes]

Good morning! :) 
I am on a mission to find the best financing for my next investment property. 
Some background info: I just sold 3 single family homes in California. I used part of the proceeds to buy a house in Maine outright with my husband. We would like to use a portion of the remaining funds to purchase more properties. We have one in mind already. Asking price is $98,000. While we could purchase the property outright, we would prefer to finance. When we finally get out to Maine (about 1-2 more months) we will be taking time off so we won’t have a regular W2 income. This can make finding financing difficult even though we have the liquid assets to cover the loan. 

So I reach out to you, my lovely Bigger Pockets community. Does anyone know of any good “No Income” lenders with light minimum loan limits? Or does anyone have any ideas how to get this property financed? 

Thank you in advance! 

[Alex Bekeza]

@Melanie Nunes Pro tip.  Most commercial lenders will not do a loan on a property below $100,000 value. I bought a property in January that was listed for $98,000. (I knew it was under market because I had others on the same street which had appraised much higher). So I offered $100,000 with a 2% seller concession (just so I could hit that $75k loan minimum) and got a great 30 year fixed commercial loan with no DTI requirements.