All Forum Posts by: Adam B

Al Williamson - Al, thanks for the ideas and welcome. I'm going to look into the both of those ideas. POA seems like something that will really help in this situation. I'm very excited about the prospect of REI and look forward to exercising my noggin.

David Beard - Strapping the baby to me and hitting the job site, RE office or parts store is definitely the plan. Really looking forward to bringing her up as I continue to pursue greater things. Also, thanks for the ideas and info. I really appreciate it.

Andrew, thanks for the welcome. I will definitely navigate over to the new member area.

Lynn, great info and thank you for the reply. That makes me feel a bit more confident about the process.

Hello BP community.

My wife is a Physician and with our first child being born 3 months ago we decided it would be best for me to quit my job as an engineer and become a full-time dad.

Finally getting out of the corporate world has been a goal of mine but the drive to "work" will always be there. Top priority for my day-to-day is my daughter. Playing, teaching and loving is what my day is focused on but the need to "work" still needs to be filled.

My short-term (2-3 year) goal for REI is finding a handful of rehab opportunities a year to keep that "work" need fulfilled. Long term, is the possibility of going full time and allowing my wife to work part time.

My first questions pertains to funding. With excellent credit, a wife that makes good money and no-rush attitude I'm drawn to conventional loans for my first few rehabs. My ultimate goal would be to use hard money (not willing to touch our savings until we're well in front of a 6-month safety net) after the savings gets to where we want it. Me walking into a bank hoping to get a mortgage loan with ZERO income doesn't sound too promising even with money in the bank and excellent credit. But, with my wife co-signing there wouldn't be a problem. The problem arises with the fact that my wife is working and I don't want to bother with her getting to the bank for closings or other situations were she will need to standby. Is there anyway around my wife needing to do ANY leg work with her name on the loan?

Thanks in advance and I look forward to my future here on BP. Although I'll be asking more than answering, currently. Hopefully that will change in the future.