How do you secure a loan with no job employment?

[Marcus I.]

So I recently had to leave my job in New Jersey and move out to Virginia due to the current pandemic, and to be here to welcome my first child into the world (which he is due soon). Since I am not currently employed, I am having trouble finding a lender that would be willing to lend me the money needed to secure an investment property.

I can secure about $60,000 in liquid cash soon, but everyone is still hung up on the fact that I do not have any employment right now. I realize I may have to pay a higher interest rate than usual because of this reason or possibly go private money. I am not asking or soliciting myself for a loan, I am just looking for advice. But, is there anyway to secure a decent loan regardless of how much I have cash to put down? My status: I already have a primary residence in VA, I have about $60K in cash and an 800+ credit score. I am just solely trying to secure a rental property or two if I could. Any help or pointers would be greatly appreciated!

[Rick Pozos]

How about this: Dont look for a rental property right now. Look for great deals and get them to other investors who are ready to buy. You can make a wholesale fee. Some deals might be 2k, 5k maybe even 10k. After you help enough people, one of them might be able to help you with a loan or you will have enough to purchase a property cash or get an owner to finance it for you.

Stop looking at things just one way. There are many ways to do things. Just because 90% of the people apply for a loan to purchase a rental property does NOT mean that you have to do it that way!!