All Forum Posts by: Wenhao Leu

Hi all, I am a newbie here at BP, but I am starting out to look for properties to invest on a buy and hold basis. However, I realized that my situation is quite unique. I am self-employed and I didn't declare a lot of tax. But i do have a bit of cash. Are there lenders who will lend base on the cash I have and also the rent income that the property comes in?

For example, if I have $150k in the bank and I want to buy a $130k property, which brings in $1200 a month of rent, would there be a lender be willing to just look at that and approve my loan?

So far it seems more lenders I work with have the traditional requirement (e.g., debt to income ratio below a certain amount). I just don't see much risk with the situation I mentioned above, unless of course I am completely without a job and wasting away my saving. 

Hi, thanks for Biggerpockets, I have come across Roofstock.com. It seems like a real legitimate and interesting business model. For a newbie like me, it would save a lot of time as well as mitigating a lot of risks, if they are what they are and do what they say they do. It seems like they have a lot of credentials as they have the likes of Khosla Venture and Marc Benioff, the CEO of Salesforce.com as investors. 

However, given those, I still think plenty of due diligence would wise for someone like me. I was wondering if anybody has experience with them?

Highly appreciate any help or tip anybody might have.

Thanks Steven! I am definitely looking into getting my feet wet. Saved up some money after been working for a while. Looking for deals to put my money to work. After some research, it just seems that my area is too expensive for me to invest. Would love to know what other markets have to offer! 

Just recently start working, love making money from regular career. But I am looking to learn more and experience more in real estate investing. I am also looking for a mentor to help me walk through this maze of real estate investment world. I read and write Chinese, and so I can be asset dealing with Chinese investors.