Avoiding the DTI ratio

[Alexander Ball]

I am about to start looking at some homes that I have scouted with a Realtor. My plan is to buy, hold, and rent the homes that I buy, but I am having a little bit of financing problems.

Mainly, I have no income. I am sick of working to make other people rich, and I want to make myself rich! So, I am going to be taking a lot of classes this semester and I want to make managing and investing and properties my income. I would love to graduate in two years with two houses well on their ways to be paid off.

However, I am having a big problem overcoming this DTI ratio. I have a large amount of capital, and not bad credit, but I can't prove my income is high enough to take on the debt. This is frustrating because 1) I am only looking at properties with a positive cash flow and 2) I have enough in my checking account to take care of these mortgage payments in case something happens for a couple months.

What can I do? My dad could co-sign with me, but he wont because he doesn't want his assets in danger. Could I create an LLC that my father could cosign to take care of my DTI problems, and still make him save from reprise?

Any help here would be much appreciated. Thank you again to the biggerpockets community.