Question for Financially Independent Investors

[Brigitte Keene]

Hello everyone,

I hope you are well. Due to the unfortunate coronavirus situation my husbands job is in jeopardy like so many other people's. We own 2 properties and if anything happens we will sell them to get more cash together. We are in a good position because we can get together approximately $300,000 cash. We had a 10 year plan (with his job) to buy real estate and retire but if he loses it that obviously change everything. Worst is he probably wont be able to get another job for 1 or 2 years because his industry has been destroyed. 

We will keep enough cash to live on for 2 years and we want to invest in real estate in Texas with the remaining $300,000. We plan on purchasing 7 single family homes with this cash which includes all costs and 6 months cash reserves for each. Max cost $135,000 cost each and we will get loans. we would buy the properties 1 at a time to make sure we dont overwhelm ourselves financially. 

So here are the questions:

1. Does anyone know if we can obtain mortgages without a job but with significant savings and cash reserves?

2. Now that people cant be evicted do you think it is a bad time for investing? What can we do to protect ourselves? 

3. If you had $300,000 cash and lost your job how would you invest it to ensure the best possible future for yourself? Based on the numbers we are thinking we could make approximately $3,500 per month on the properties. 

Thanks and take care everyone.