Good credit, low income. Seeking a loan

[Aaron Hartsough]

I have 12k cash, 800 credit, 75k in real estate equity, no debt, but I’m  currently making very little income on under the table side jobs. I want to get a loan or home equity line to buy a 25-40k house to fix and rent. Do I have any options without an income? Should I file taxes on personal income that isn’t recorded?

[George Despotopoulos]

The loan amount you'd like to get is $25K-$40k? That's tough for conventional financing (although one individual just posted earlier saying they got $25K from Wells Fargo for an investment property!). A HELOC would probably be a more realistic option than a mortgage, but you may as well call credit unions/local community banks and see.