Cash Or Financing On Your Investment Property
I'm a 25-year-old commercial real estate agent from France looking for my first investment property in the USA. I had planned on investing in RE for 2 years but never took action due to my lack of knowledge on the subject. I decided to work for one of the country's best CRE firms, and I feel ready to start my foray into private investing. I'm looking for a rental property, either a fourplex or a Commercial 5-10 unit MF. Although I have a strong plan, I'm currently figuring out my financing options, either through cash or borowing. I have everything I need except one important issue: the 2 years W-2 income tax return. I'm aware I can't get financing from a lender without these documents.
In the book "Rental Property Investing," David emphasizes not to focus on the problems but to do so on the solutions, and that's exactly what I'm doing. How can I make this happen through financing?
This is what I've been thinking:
1. Finding a private lender
2. Paying cash (it's my last option, but wouldn't prefer this)
3. What about joint partnerships where they look at my partner's W-2 (friend or spouse)?
4. Can a lender look at banking statements and set a DTI Ratio from the purchasing property's income? (that's if the property already has tenants ofc)
My real question is:
What are my options for someone who can't provide a 2 year W-2 income tax report for financing?