Qualifying alone or with other GP/LPs?

These loans are based on a property’s rental income rather than your personal income, making it easier to qualify as you expand your portfolio.Networking and Mentorship:You’re already off to a great start by reaching out here!

If you are worried about it I would find a duplex or triplex/quad that already has one side rented and the other is month to month and use the income from the one rented to help you qualify.  

The "non conforming" lending options are actually called NonQM (non qualified mortgages).

Would love to see an example of some real life qualifying activities and what you're including.

Plus, if you aren't able to get approved with what you've got now in terms of savings, credit, etc. you can learn on what you need to qualify so you know what to be working towards. 

@Hank Bank BRRRR is probably want you want to do.Buy, Renovate, Rent, Refi, Repeat.Before you go all in and either find out you don't like being a landlord or you make costly mistakes, start with just the next one.You'll have some challenges with tapping the equity in the townhouse:1) What loan amount can you qualify with your credit & income?

Further, he can extend his “grace” period a further 30 days by paying us an additional $50k.So far, we’ve collected two $50,000 payments in the last i0 days plus the $36,000, or $136,000.

The program is designed to assist low-income families, and these benchmarks might exclude a lot of qualified people.That said, the requirement for stable rental and work history is reasonable, but you might consider relaxing the credit score or income requirements since Section 8 guarantees a portion of the rent.

It is highly specific, my recommendation is to contact the city directly with qualifying questions or have us do it for you :) In general Astoria is also a No-Go with the exception of commercially zoned properties.