$100,000 down payment but no full time job

[Danielle Thompson]

My husband and I sold a duplex during the summer that profited us $100,000. He also lost his full time job during the summer so we don't have a steady income anymore (though we are actively looking for one in his line of work), though we do have some part time income. We have been interested in buying a fourplex (with the intent to live in one of the units for a short time), but are having a hard time knowing how to get financing without a full time job. We are ready to jump in to the investing world, but aren't sure how without a full time job. Also, is it best to put all of this money into one fourplex or should we split it up and buy multiple properties to start with? 

Even though we've had a duplex, we are pretty new at the whole investing thing, so we would love any direction!

[Chris Mason]

Hi @Danielle Thompson,

Repeat this three times. Lurkers too, please repeat this three times.

• Rental income is mortgage qualifying income. 
• Rental income is mortgage qualifying income. 
• Rental income is mortgage qualifying income.

If someone is telling you otherwise, or is saying it needs to appear on two years of tax returns even though you don't even own the new property yet, read this.