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Updated over 10 years ago,
How to fund a rental
I am a contractor in AZ that currently pays 600 a month for a storage yard. Its been on my mind to buy my own storage yard or a rental unit w/ yard space and start redirecting the 600 into my own pockets.
In essence it would afford me another 600 a month from any investment property that I purchase.
I have recently found two homes/ duplexes that are for sale (one short sale, other is thru private party). Both have the type of space I need.
Im trying to determine how best to fund a project like this. I have decent credit 680-710 and can afford to put down 20%. My reason for not using a conventional lender is my debt to income ratio is about 8% off the mark.
Any advise appreciated.