Projected rental income doesn’t hold as much weight in the evaluation process as steady income from an employer.

Hi @David Chin want to do the very same thing, so I would be very intrested to follow along with your progress.

While the rehab is in progress we get all of the initial disclosures and loan process out of the way up until appraisal.

We have been making progress towards permanent right of way.

I know a investor that does it for older landlords, don't want to sell for estate reasons, tired of chasing after tenants and handling complaints, going for it since the lessor handles the PM duties, in addition to providing steady guaranteed income.

I find traditional lending institutions (AKA Chase bank and the like) dont seem to be friendly to investors who have 5+yrs of steady and growing income from rentals (airbnb, leases, self employed, all submitted to IRS).

If you have have the down-payment and closing cost and steady income go for it.

I was happy with my slow and steady approach until I heard about the BRRRR method and it got me really excited.

Your best bet is to get a steady job so you can qualify for a loan, buy a multi family home and live in one part and rent out the other(s).

When I was shopping, some lenders wanted to see those raised rents steady for a min of 6 months to a year or they would only lend on LTC not the value the appraiser came back with.