Would like to do owner occ conventional with 5% down but don’t think we will qualify.

Key factors behind the delay: // Tribal Notification Process · Adds mandatory waiting periods for responses and negotiations · Can disqualify projects if no agreement is reached // Extended Review Periods · Requires additional steps beyond standard permitting · Slows approvals but doesn’t always block development How SB-423 Benefits Real Estate Agents and Developers SB-423 streamlines approvals for multi-unit housing in qualifying areas by extending and modifying SB-35.

You need income to qualify for loans, you can learn how to manage rentals well (something most landlords never do), you will figure out which communities/properties make the best investments, can earn an above-average paycheck, and may even find some investment properties before they hit the market.

The tradeoff is the 12 month seasoning requirement on C/O refis, you can only close in a personal name, and you must be able to qualify using your personal income and debt. 

You can compare the interest rate and qualified loan amount to the 401k loan. 

Tenants have more options, and overpriced properties are sitting vacant longer.Longer vacancies = lost rent.Less tenant interest = fewer qualified applicants.Price reductions = you likely end up earning less anyway.A Real Life ExampleAn investor recently listed a townhome at $2,200/month instead of the market rate of $2,000/month.

The terms can vary, but the goal is often to cash-out refinance later and use the property's increased value to repay the private lender.To qualify for private or hard money lending, lenders typically look at factors such as your creditworthiness, the property's potential, your experience as an investor, and your ability to generate positive cash flow from the investment.Please feel free to send me a PM.

I already have one traditional LTR with a traditionally-qualified tenant.

I was buying an RV, and she said I didn't qualify because of my income.  

Even if you made $200k and your rotating debt is $150k annually, it wont get you qualified.