Best way to finance a deal?
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?