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Updated almost 5 years ago on . Most recent reply

User Stats

31
Posts
6
Votes
Wayde C Hall
  • Real Estate Agent
  • Orlando, FL
6
Votes |
31
Posts

Foodstamps effecting ability to invest in rental property

Wayde C Hall
  • Real Estate Agent
  • Orlando, FL
Posted
Hello everyone, I'm new to investing in rental properties and have been listening to the BP podcast for weeks now and have since read several books but I have not seen anything addressing my question of if I have foodstamps, could that effect my ability to use the house hack strategy. I'm in college in a large city so renting is becoming more and more tedious. Working on slightly above minimum wage doesnt help with school most days, so I've started looking into food stamps. In the next year I would like to implement house hacking to start building a rental property portfolio early and start gaining passive income streams. I dont know however if banks (or anyone else) will see me being on foodstamps as a drawback for recieving a loan. Thanks for any help!

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1,581
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1,493
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Bob B.
  • Investor
  • Jasper GA
1,493
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1,581
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Bob B.
  • Investor
  • Jasper GA
Replied

I can't see how you would qualify for food-stamps if you have 7-10% available cash for a downpayment.  Isn't this a great country or what?

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