All Forum Posts by: Sara Donohue

Hi ! Repost with some extra info. We found a mobile home that we love right across the street from our favorite beach. Listed for 75k with lot rent of 450. We have 15-20 k saved. Any suggestions on lenders that would hear us out? We want this - as a STR and for our family !

The catch- We have no verifiable income/ recent tax returns. We are both self employed (fairly recent). Little choppy/ inconsistent. Would a DSCR lender go this low or even consider financing a manufactured home?!? We own our current home and plan to rent this out in the coming months for our first income property.

Suggestions? Avenues to consider for creative financing ?

@Matt Devincenzo Good question! I write off as much as possible as I own my own business. Also last year was mostly maternity leave for me so no consistent income coming in.

@Bruce Woodruff thank you so much for the suggestion. I am going to look into this right now !

@Sara Donohue. I should mention that we are both self employed and have no substantial verifiable income

Our family and I have fell in love with a mobile home across the street from the beach. Listed for sale for 79k with 450 / mo lot rent. We have about 15-20 k saved . Does anyone know of a DSCR lender that would entertain helping us ?!? We think it'd be so perfect for a Short term rental. Really really want to see this happen . We have the vision. Are we hopeless ?!

@Ralph DiBugnara

Self employed for two years now but first year was during covid craziness and I had a baby so didn’t work much !! I also try to write off as much as possible and have a lot of student loan debt :/

@Stephanie P.

Looking up Dscr now, thank you!

@Theresa Harris yes! Both my husband and I have different jobs now. So a conventional loan is out of the question :(

I have 15k saved and want to invest somehow. help! I cant get approved for a loan (I’m self employed/ no consistent w2s).

Does anyone have any suggestions? Maybe buy a lot of land, put something airbnb-able on it ? Are there any options for me ? I currently live in Florida, bought my first house here a year ago w/ a conventional loan.