Help getting my finances sorted to purchase in November-

[Rosemary Cubbage]

Hi BP friends,

I have a few questions. I am hoping to make my first investment by the end of the year (Nov.-Dec. as I will be visiting the States during that time) and first need to get my financing all figured out.

One of my questions is this- I have a credit score of 710-720. I am the one interested in buying the investments, although my husband and I share everything. Basically, we are self employed and earn an income together, file taxes together and share a bank account (same steady income for the last 7 years). The only thing that is solely mine is my Roth IRA. This all makes me think that we will have to purchase the house jointly. I have heard that the lender will then use the lesser credit score. Unfortunately, I have no idea what his credit score is (we will do a credit check for him soon). I've always had the credit cards and we've never had any real debt to pay off (we still have no debt) so I am assuming he doesn't have any credit history. We are first time home buyers, have 20-25% down, 30 year mortgage kinda people. Does anyone know if we have to purchase jointly? (Our goal is to have 10 or so properties)

I am living out of country now, but am a U.S. Citizen. All of our income comes from the US.  This is why I am interested in a truly turn key investment that I could begin closing on before the end of the year. Does this timeframe seem doable?

Thanks for any and all feedback, referrals and advice.

Rosemary Cubbage

[Jonatan Barbera]

Rosemary Cubbage I think you have the right mindset to pick up but and holds. We use Chad with AMP Lending to qualify our investors for financing options. He’s used to working with investors.

The biggest thing is don’t rush to buy a house. Get to know your market, tenant pool, and deal sources.

If you have any further questions please feel free to reach out.