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Updated almost 9 years ago on . Most recent reply

User Stats

9
Posts
1
Votes
Breanna H.
  • Real Estate Agent
  • Pomona, NY
1
Votes |
9
Posts

Getting Qualified - interesting situation

Breanna H.
  • Real Estate Agent
  • Pomona, NY
Posted

Wondering if we could get some advice from seasoned experts on here!

 Hoping to find a solution for our situation and move forward with our real estate investment endeavor. Currently have one rental property (one united is rented, second is owner-occupied by us), and looking to pick up another property, a $149k rental property currently with both units rented at around $1000 per unit. The situation involves issues with pre-qualification. Namely, the fact that available cash is at about $20k maximum and have only my partners income at $40k per year to account for, as I recently took some time off to obtain my real estate license and now am returning back to the workforce as of April 1st, when I have secured a full time position with comparable salary.

 So the question is, what would be our best strategy for getting pre-qualified and into this deal? Any thoughts/opinions would be greatly appreciated! 

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