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Updated over 9 years ago,
Should I start looking for a job? Financing issues.
So, my situation is this. I'm looking to finance my first purchase but I've run into the issue of not bringing in what is considered to be enough income. I quit my last job so that I could go back to school and focus on learning about real estate investing. I do get a paycheck for going to school but a few lenders said that they don't factor that in because they don't look at it as a steady income stream. I also collect a monthly check that covers my current mortgage plus other bills and my wife works as well. I have money to put down on a property and figured out a range where it leaves me with a cushion for repairs and also savings but it's not looking good. I'm thinking that I may need to put school on hold and get a job so that I can show more income. The creative financing route or partnering doesn't seem to be a viable option because I don't know many people around here. I guess I'm not looking for much more than peoples opinions on the matter. Thanks in advance!