No w-2 or income...How do I finance a portfolio

[David Nadelstumph]

I recently sold a restaurant of mine and my wife and I are currently looking for another small biz. I currently have no w-2 or income. I want to start an investment portfolio. I paid cash for first deal a week ago but am finding it difficult to finance future deals. The lack of income is only temporary. We have no debt and substantial savings.

Should I be looking for $ someplace else?

Thank You

[Upen Patel]

@David Nadelstumph If you have lots of cash in the bank and/or liquid investments (e.g. stocks), then you can get an asset based loan.

Another option would be to get a stated income loan. No W2/Tax return. Just your credit and bank statements. The rates are not as attractive as conventional, but its better than hard money. Any you are only doing this as a stop gap. So you can refi to a conventional loan once you have a steady income again.

Upen Patel, Mortgage Banker

Federal NMLS# 1374243