Question: All cash vs loan

[Amelia Ghold]

Hello. Thank you for reading and sharing any thoughts or key search words that might be helpful.

I am a first time buyer with bout 220k cash in the bank. Due to an illness, I cannot work consistently. I am living with family. Its not ideal, but its an option for now. I have good credit and no debt. Its challenging (and seems risky) getting a loan without income. I am in Oregon, its a feeding frenzy here with multiple escalating offers. I'm about 20k shy of affording most of the turn key small starter homes. My plan was to live with roommates until I can generate income via home business - or live with family and rent my house for income.

I have two goals: To own/occupy my own place, and to acquire multiple single family rental properties over the next few years. If the West coast is priced too high for a beginner to gain any leverage, then I'm open to the East Coast (though I would be in unfamiliar territory).

-How might an unemployed person with no income make the most of 220k cash? Is buying all cash the smartest first step to ownership under these circumstances? 

-Are there circumstances in which a lender will accept potential rent revenue as proof of income?

- Is there a low-risk, hands-off way to increase my liquid funds by maybe 10K or so within a couple months without taking a loan?

Open to new ideas and concepts.

Thanks!

[Zach Lemaster]

@Joseph Schweizer Thank you for the shout out!

@Amelia Ghold

We've helped many investors just like yourself build a successful rental portfolio across numerous cash flow markets. It's all a numbers game, and the most successful investors invest in the markets where they get the best returns!

Please let me know if you have any questions on anything. I typically like to start with an initial phone call to discuss your investment goals/experiences, answer any questions you have, and tell you all about what our company has to offer. Please let me know if this is something you would like to schedule.

Also for your reference, here are some other forum discussions from investors that have worked with us in the past. I'm sure you'll find this informative. Looking forward to hopefully connecting in the near future!

https://www.biggerpockets.com/users/ZacharyCole/references

https://www.biggerpockets.com/forums/92/topics/518583-feedback-on-renttoretirement-and-zach-lemaster

https://www.biggerpockets.com/forums/92/topics/765347-rent-to-retirement-review

https://www.biggerpockets.com/forums/92/topics/893621-rent-to-retirement-review?highlight_post=5222888&page=1#p5222888

https://www.biggerpockets.com/forums/92/topics/808479-rent-to-retirement-experiences
https://www.biggerpockets.com/forums/12/topics/533693-anyone-worked-with-renttoretirement-turnkey
https://www.biggerpockets.com/forums/92/topics/581730-rent-to-retirement-zach

https://www.biggerpockets.com/forums/48/topics/874096-reviews-on-r2r-and-nch?page=1&utm_source=Iterable&utm_medium=email&utm_campaign=Transactional:%20topic_notification&utm_content=Transactional#p5123754

https://www.biggerpockets.com/forums/311/topics/883772-turnkey-investing-renttoretirement-feedback-reviews?highlight_post=5171720&page=1#p5171720
https://www.biggerpockets.com/users/ZacharyCole/references