Rent where you live so you can build up your reserves and then use them to purchase Real Estate investments.

I’m looking to purchase a home, ultimately an investment property, prior to finding employment, making traditional financing unobtainable.I have about 90k is cash reserves and approached a family member with the idea of loaning out some cash (around 100k) to earn interest, for me to buy a property outright.

Yes a non-QM lender/ DSCR loan will work some even except foreign payment as liquidity but they will mainly care about meeting the reserve amount which on refinance you do not have to worry about downpayment portion as there is none you, will just most likely have to show 6 months reserve amount.

I would set aside 6 months reserves for electric, water, gas, cable, internet, landscaping, pool maintenance, etc.

- never be in a position of need- pay as less as possible upfront and negotiate payments after completion of works- inspect the expected- do not be afraid of being cautiously wrong- have better systems in place- do not over leverage and have cash reserves to meet investors obligations - always have at least one exit strategy Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

If you bring on extra carry reserves for this, then you might be OK, but it's a risk. 

I often get this question from clients who are saving for their down payment and other reserve accounts while they’re looking for the property.

If you consider a 20% down payment and reserves for vacancies and maintenance?

Rental Revenue (At Market)= $195k Annual (excluding vacancies/bad debt/concessions)              Vacancies: 5%              Bad Debt assumption: 1%             Concessions: 0.5%I am assuming that expenses are running: 12k for property management30k for taxes10k for maintenance and repairs6k for insurance7k for utilities (not reimbursed)4k reserves-------69k total expenses-------Net operating income: 116kAfter debt service and capex reserves, I am assuming net income would be around 5k annual for the first year.

@Trevor Lowe Depending on your credit/cash reserves how will using the savings affect your ability to get a conventional loan?