Welcome!

By registering with us, you'll be able to discuss, share and private message with other members of our community.

SignUp Now!

aquiring financing on investment property without a job or other equity

R

relic

0
Registered
Joined
Jan 1, 2009
Messages
1
I am thinking that seeking financing for investment property would be very dificult if not impossible without a job or equity, I would like to hear from some of the sofisticated investors here on this subject, what would be the bare minimum before a lender will become interested, the reason I ask is because I lost my job last year and had to sell everything to avoid bankrupcy, I accomplished that and maintained a excellent credit rating but have very little for assets left over. I have purchased 2 of Don`s books and would like to put the acre system to work, thanks for any information...K
 
Either JV or be ready to put around 35% down payment! Unfortunately without an employment income or 35% to put down it would be very difficult.
 
In today`s credit market, it`s not likely to be approved for financing without verifiable income. You may get financing through private sources but would pay 8 to 10% for a first mortgage.

You would be best to partner with someone that has good verifiable income.
 
It`d be tough to make the jump without some serious backup, but commercial deals are generally financed on the strength of the property itself.
 
Without a good full time job that you intend to keep to support your investments you are clutching at straws.
 
You must log in or register to reply here.
Back
Top Bottom