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Updated about 13 years ago on . Most recent reply

User Stats

603
Posts
130
Votes
Adam Craig
  • Investor
  • Cleveland, OH
130
Votes |
603
Posts

Any idea on finacing my situation?

Adam Craig
  • Investor
  • Cleveland, OH
Posted

Hello All,

I am 23 years and graduated from college a couple years back. I started a very successful internet business selling electronics and I have been itching to get into real estate but ive been sidelined until I have can show documented income.

2011 will be my first actual business year in the books and I will send around 140K AGI to the IRS.

Now my question...

With 1 year doc income at 140K and a 740 credit score, would I be able to get more then one home loan in 2012? I want to purchase my first house along with my first investment property if not more.

Or is my short credit history/income history going to limit me.

I can most likely come up with 15-25% down on both purchases.

I would purchase 5 houses in 2012 if I could be financed, though I understand that might not be so wise my first year in.

Any insight on credit standards is appreciated.

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