Updated over 11 years ago on . Most recent reply
Self employed income too low
My wife and I are both self employed so on paper we don't show enough income for a loan for a property. This would be my first property. I was looking into a turnkey rental. Ideas? Keep in mind I'm new here and so would prefer details please.
Most Popular Reply
How many banks have you shopped at? Do you have any cash? If you income is to low are you sure "turnkey" is the way you want to go?
I would encourage you to seek out at least 3-4 small time local banks and ask them how the can help you in you situation, you might be surprised at the creative ideas you can come up with.
We baught our last forclosure at a huge discount from market value for only $1,800 out of pocket. Thanks to our local banker!