All Forum Posts by: Joel Ladzinski

I want to buy a property for a short term rental.  I have roughly $100k in cash but essentially do not have the income to get another loan.  As an example, there is a property I wanted to buy for $280k.  I'd have enough to place a 20% down payment and cover many months of the mortgage but my income is essentially maxed for any loans. The property would cost ~$1800/month, the current owners say it generates $4000/month in revenue.  Even if that is untrue, there would still be plenty of room for us to make money on this place.  

Is it possible for me to get a mortgage in this type of situation?  Any other options?