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Updated over 9 years ago on . Most recent reply
Unemployed with $10,000 cash. Can I make something happen?
Unemployed with $10,000 cash. Can I make something happen?
I'm out searching for jobs with my degree in Drafting & Design at the moment, so I don't plan on staying unemployed. I need a job to build my credit, so that I can get approved for a loan in the future.
In the mean time, I'm looking to owner finance a home with my 10K as a down payment, but do not know how much my fees are going to cost me. Also how fast could I possibly get a tenant into the home to take care of the mortage from the owner financing it to me?
Should I wait to get a job with an income?
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James Wise
#5 All Forums Contributor
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James Wise#5 All Forums Contributor
#5 All Forums Contributor
- Real Estate Broker
- Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
Welcome to the site.
I would recommend waiting until your employed to buy a rental property.