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Updated almost 12 years ago on . Most recent reply
![Val Dufour's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/135891/1621418688-avatar-valrei.jpg?twic=v1/output=image/cover=128x128&v=2)
Zero income financing options
So,
I'm a new investor and reading a lot but haven't seen a direct answer to this question. Currently I have a good paycheck, excellent credit and low 6 figure net worth(approx 75% liquid). Getting mortgages shouldn't be a problem for me.
But alas, I'm growing tired of the military and am considering getting out. If I do, I'd prefer not to get a regular full time job and would like to devote all of my time to real estate investing.
My question concerns my financing options. What options are available with zero income? What criteria would help you secure loans of that type?
Obviously seller financing is the go-to in this situation, but I'm wondering what other options there are out there? If any...
Thanks!
Most Popular Reply
![Ben Leybovich's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/115170/1621417601-avatar-justaskbenwhy.jpg?twic=v1/output=image/cover=128x128&v=2)
Val,
The guest Jason is referring to is yours truly – pleased to meet you both :)
First of all, thank you for your service! Secondly, if you haven’t heard the podcast, it is number 14. I do in fact specialize in creative finance, and it is what I teach. Having said that, please read this article I wrote for BP a while back:
http://www.biggerpockets.com/renewsblog/2013/03/26/should-i-bother-with-college/
While you have the income – use it. Fannie will let you have 10 mortgages; Freddie will let you have 4. Earned income is necessary to obtain those. If you do it right, though, you can bypass the down-payment requirement – this is a little creative. After you get to the max, then you have to operate on the commercial side and/or get very creative. Think twice before giving up earned income.
It never hurts to think outside the box, but I wouldn't try to change the rules of the game. Use them to your advantage!