Looking for loan for my situation
Hello, everyone. Does anyone know of a way I could get a loan that has a reasonable interest rate for a rental property, being that my income is low, but I have cash in reserves plus properties? Thanks!
I am looking to acquire another rental property and would like funding. I could buy a lower-cost property using cash, but I would like to see if I could somehow get a loan with my low income. I currently have three rentals plus the condo in which I live. I am currently an unemployed teacher, and my income right now comes from unemployment plus rentals. I live in so Cal and am looking anywhere in the country for a deal. I looked into loans a few years ago, and the ones I could get had higher interest rates, and therefore I wouldn't be cash flowing on a property. Advice/tips appreciated!