Updated almost 9 years ago on . Most recent reply
Self-Employed Friend Seeks Housing
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.