The Issue: I want to buy real estate leveraging OPM but have no suitable income to satisfy a lender.The Goal: Purchase cash flowing real estate without ever needing to get a full time salaried job.Where I'm at now: I am twenty three years old, just out of college and am supporting myself with different jobs [mostly hired on an independent contractor] and paid hourly.

let me know if I screwed up anywhere or you wanna chat more on this.But my personal view: I'd pass or low-ball them something around the $150k mark.

Maybe 3 restaurants are all that the small town can support?

As you can see - you have so much valuable information and support here on BP without shelling out thousands.

Like you pointed out it would take all my time to oversee the project which I wouldn't mind but I would be funding most of the build my self and would have to continue my current job to be able to support that project that would be super advantageous.

I had a chat with our "Mortgage Specialist" today and she indicated no change {and was disappointed I was not bring her another one}.BTW: One other point about RBC.

Thanks for the support @Colleen F.

Then of course one could have gutted kitchen and baths expecting to remodel but run out of money before getting it done.Steve, in that case you show the hard costs of improvements, might support that with pictures, they can bite off on that, most likely though you just get another appraisal.And yes, I had a few rehabs handed to me, it can go the other way too. :)

So maybe this person has companies that support or sell to real estate investors.

So then it just becomes a matter of cost, which if you're contemplating making the switch to self employment just make sure that your income supports that expense.