New, cash heavy, investor without enough taxable income for loan.
I am a pharmacy/MBA student in my last year of college. I have about $50,000 liquid at the moment and am looking to get into the rental market. I have a connection with a successful agent who found a turn key property in the greater St. Louis area for $130,000 that rents for $1,150 a month without utilities. Even offering a 25% down payment I was turned down for a conventional loan due to my student loans being so great in comparison to my taxable income. Everyone I have talked to so far has said they would love to give me the loan as soon as I graduate and start working as a pharmacist ($120,000 annual salary). However, I would like to get started now for obvious reasons. Any advise on creative financing would be greatly appreciated!