- Joined
- Sep 24, 2008
- Messages
- 43
Hi all,
I work as a freelance web designer. Currently I live kooked up with a bunch of other web designers so cost of living is VERY low. Which is a good thing because I have not seen income in a long time.
However I do have about 20$K stashed away and am very interested in pursuing some investment properties I have my eye on.
Is there ANY way I can get a mortgage or finance the deal without any income, but with a decent down payment? These properties will have positive cash flow it that would cover the mortgage. How important is having income when buying properties for investment? I think it may be worth noting that I don`t have a portfolio of RE properties to back me up..
I really do not understand my options (if any) but I was considering:
Getting someone to cosign the loan?
Hard money?
Partner with someone who can get a decent mortgage?
ANY information, direction, or alternatives would be greatly appreciated.
Many thanks,
Charles
I work as a freelance web designer. Currently I live kooked up with a bunch of other web designers so cost of living is VERY low. Which is a good thing because I have not seen income in a long time.
However I do have about 20$K stashed away and am very interested in pursuing some investment properties I have my eye on.
Is there ANY way I can get a mortgage or finance the deal without any income, but with a decent down payment? These properties will have positive cash flow it that would cover the mortgage. How important is having income when buying properties for investment? I think it may be worth noting that I don`t have a portfolio of RE properties to back me up..
I really do not understand my options (if any) but I was considering:
Getting someone to cosign the loan?
Hard money?
Partner with someone who can get a decent mortgage?
ANY information, direction, or alternatives would be greatly appreciated.
Many thanks,
Charles