Getting started - Have cash but cannot get a loan

[Timothy Wright]

I'm a homeowner that is interested in investing in a second house with the intention to rent it.  I know that I can pay off a new loan because I am getting $28,000 as a gift every year (Thanks Pop!).  The problem is that when I discussed how much of a loan I could get, the banker told me that even if I put $80K down on a $150K house, he couldn't approve a loan because I only make $50,000 a year at my job. He was not reassured by my claim that I will have over 2K a month to pay off a loan.  According to him, I could only afford $690 a month. 

I feel like I have to rent out a room of my house just to show a little more income, but surely new investors don't have to do that. Any advice on how I can use my gift money to invest when I cannot get a loan because I only make $50K?