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Updated almost 8 years ago on . Most recent reply

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Joshua Bowers
  • New to Real Estate
  • Houston, TX
2
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What would you do next?

Joshua Bowers
  • New to Real Estate
  • Houston, TX
Posted
If you had 30k in the bank, a SFH with a VA loan being rented out (currently about 80k of equity), and current income of about 10k + 19k rental income a year while being a student for another 3 years? I want to buy a four-plex to live in one unit, rent the other 3, while I finish school but not sure how to be approved with low yearly income. Any ideas?

Most Popular Reply

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Linda S.
  • Investor
  • Richmond, VA
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Linda S.
  • Investor
  • Richmond, VA
Replied

Take it to the bank and see what they say, they'll certainly factor in rental income.. worst case scenario is you get turned out and they tell you what you need to get approved in the future.   Good luck!

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