Got the down payment! Can't get the loan...

[Connor Lindsay]

Hello Bigger pockets community!! I'm 23 years old and currently trying to break into the world of real estate investing but found myself in a 'so close yet so far away' scenario. I work and live onboard a yacht in Fort Lauderdale, so while my income is nothing special my monthly expenses are $0.00. this has allowed me, over the years, to save up in hopes of beginning my dream. I currently have the money for a 20% down payment on a fixer upper in the South Florida area but find myself watching deals pass me on by because I don't qualify for the loan, yes, I've checked. my question is, would it be crazy to offer a small percentage of the deal to someone in exchange for simply co-signing? or does anyone have a better idea??

bit of quick info:

-70k to invest

-Avg yr income, on paper that is: 30k

-I am really set on going the conventional loan route.

Thank you guys!!!

[Ray Hage]

Talk to @Ash Hegde on this topic. He may be able to at least guide in the right direction towards getting a conventional loan. I think it will be tough with a 30k income on paper. I have had similar problems as well due to having a low income on paper even though I have a ton in my bank account and stocks. It's quite a silly system.