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Updated almost 5 years ago on . Most recent reply

User Stats

25
Posts
15
Votes
Kyle Kinsley
  • Property Manager
  • Turlock, CA
15
Votes |
25
Posts

Best way to finance a deal?

Kyle Kinsley
  • Property Manager
  • Turlock, CA
Posted

Hey BP! 

I own a property management and real estate sales company with my brother. We've been running that for about 1 1/2 years. Our business income has good up to this point. We had to put our business in an S-Corp to get licensed with the state. Because we needed insurance, we started paying ourselves a minimal salary as employees so we can write it off. All of the other income just stays in business accounts. 

I had a question about financing a deal. Now I currently don't have a property I would like to purchase, but I was looking at investment properties and realized I didn't really have the income to show if I did want to purchase a home. 

My question is

1) How can I finance a deal with low income? Even though I am owner of a business that earns more than enough to have 3x the payment, my personal income is not enough. 

2) Can a cooperation to buy a house?  

Does anyone have any good suggestions as to how I would be able get financing for a home? 

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