Looking to purchase 5+MF in San Antonio

[Walt Middleton]

Hi BP family, I'm new to BP but not new to MF ownership. My wife and I have owned a 4plex in Utah for over 8 years and are now looking to purchase another unit in San Antonio. Price of the property is close to 600K and we have 30-40% down payment in cash. The problem we have is we don't have a lot of income, we work for an international non profit, and are concerned we will not be able to qualify for FHA or commercial. Does anybody have a recommended way around this problem? The property itself cash flows very well and has current rent roles of over 5100 per month, which will more than cover the mortgage on 250-300k. We have additional savings of 150k set aside but our job income is shy of 40k a year. Any suggestions would be greatly appreciated