How to take advantage for this bad situation ?

[Faysal Alam]

I had a 750k pre-approval lined up but due to a break up with my long time gf things have changed , I have about 60k liquid in my savings , another 14k in my Roth ira and another 19k also in the stock market for a grand total of 93k , the real issue is getting the loan , this year I will file for about 40k in taxes but I'm looking to capitalize on a house back while rates are low . I live in NYC , currently saving about 2k a month . And can continue to do that even with this virus , I really want to be ready to buy if the opportunity presents itself but how can I put myself in that position to qualify when houses are in the 500-800k range in Queens areas I'm looking

[Samuel Rogers]

@Faysal Alam     get the book on Long distance real estate investing by David Greene of BiggerPockets.   It really is a great book that gives a solid road map for investing in out of state markets.   I have done 2 out of state Single Family Homes and his advice is spot on and I wish I had read that book before diving in...   But Brandon Turner kept yelling at me on the Podcast to stop looking and do something!!!    Im glad I did.   I'll plan to purchase more properties out of state this year.  You have enough start up capital to buy in cash, rehab in cash, rent and then do a cash out refi, and pull all or most of your original money right back out to do it again.  

There are a ton of great markets in the mid west and the south.   go for it!!!