Financing Question

[Steve Gunasingh]

Hello BP, I have been working on finding a property to invest in. I have about $30k for a down payment however I am not able to qualify for a conventional loan because my debt to income ratio is too high when the mortgage payment is added into my expenses.(E-3 in the military) Wells Fargo has a loan for future income based mortgages however I need * Receipt of a security deposit from the tenant and verification of the deposit into your  account * 2 months of bank statements verifying receipt of rental income. So I can only purchase a home with someone living there already. My problem now is how do I go about finding such a property? I want to find one in Washington or Oregon. I have considered this turnkey management "www.homeunion.com" but they only operate in the East coast.

[Alex Chin]

@Steve Gunasingh - if you're looking for a turnkey property and have $30K, I would not recommend Washington/Oregon. Both states have much higher property values, you will likely have better results looking at the mid-west, or the south.