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All Forum Posts by: Robert B.

Robert B. has started 1 posts and replied 3 times.

Wow. Thx everybody! 

I never imagined I'd get this much helpful advice.

Much appreciated.

Bob

Thx so much.

As a newbie, I had no idea such a loan exist.

But what about a conventional loan for a residential rental property? I gather the costs and interests rates are lower for this rather than a DSCR loan.

As long as I have adequate savings, and a rental producing income, do I have to have a steady income, as in a job, to qualify for such a loan?

Bob

I'm wanting to generate some cash flow for my retirement years that will begin later this year.

I have purchased one rental home that has generated $400 per month the last three years. I owe about $100,000 on my $450,000 house; the mortgage rate is 2.5%.

I also have  a million dollars in retirement savings.

My question is this: will I be able to finance rental properties in retirement since I won't have a job but only investment income?

Thx for any help offered.