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Updated almost 8 years ago on . Most recent reply

User Stats

18
Posts
13
Votes
Aubrey Page
  • Investor
  • Cincinnati, OH
13
Votes |
18
Posts

Self-Employed Friend Seeks Housing

Aubrey Page
  • Investor
  • Cincinnati, OH
Posted

I have a friend that is self-employed by a non-profit and therefore writes off 90% of her income.  Her non-profit is working with foster kids and she also provides respite for those kids so she wants a 3bdr house with storage and a yard.  She is living in a great place, but her landlords want to increase the price beyond what she can afford.  She started looking at other places and realized how little $600 or $700 can get you for rent.  

She has the consistent income to purchase a place, but her 1040s state she makes a few thousand a year and that is how you get qualified on a loan (federal law?).  She had an idea to find an investor who wanted to buy a house knowing she would rent it, but we don't have the cash on hand for that.  

Am I missing some other genius idea on how she can buy a house?  Any smart ways to find investors in the Cincinnati area (St Bernard, N Avondale, Walnut Hills, Clifton, etc)?  We are new to this game so I don't know as many creative solutions.

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