All Forum Posts by: David Abrass

In answer to both questions from Joe and Dawn, the idea was to own the property and rent it for income. Maybe passive income is the wrong term since I don't want to imply being a landlord is a passive activity. The problem, or again maybe it isn't a problem, is that our vehicle to ownership seems like an all-cash purchase since we can't currently qualify for conventional lending. 

We have $200k in bank savings earning little to no interest. While we have owned several homes over the years we are new to real estate investment. We'd like to gain some passive income with our money and try and build a portfolio from there. We are looking to invest in the Seattle area. Unfortunately our credit is poor but rebuilding. We have no debt, just waiting out the time for our scores to improve. In the meantime, financing seems off the table with a 602 credit score. Love to hear some opinions/advice.