Updated about 6 years ago on . Most recent reply
How to fund a rent and hold without a bank loan.
Hi everyone! My name is Caleb and I have been listening to the biggerpockets podcast for quite sometime now and have read many of the books that have been published through buggerpockets. I learned about the strategy called house hacking through the book called Rental Property Investing and thought I would try it out! I am in the process of closing on a 4 plex in Apache Junction, Arizona and just accepted the BINSR. I realized that my loan might be approved because due to the slowing at my job that I might not meet the requirement of 40 hours a week. I just talked to my boss and he said he can give me the necessary hours as long as I need (I am very blessed to have a boss that is willing to work with me). But I'm concerned that it may not be soon enough. I know that biggerpockets is home to some of the most creative and smartest real-estate investors around. If the loan doesn't go through, is it still possible to get the keys to this property? I am very motivated to close on this property because my goal by the Christmas 2020 is to subsidize my moms income. I greatly appreciate any suggestions and thoughts you might have. Have a blessed day!