I am looking to buy investment properties in WNY and finding it hard as a non resident alien to source a mortgage for several reasons:1 The amount I want to borrow at any one time is only around $30K-$50K - ie to a lender, not really enough to justify the extra exposure to a foreigner.2.

Depending on the state the rules for a land contract can mean that you have to foreclose if the land contract buyer does not perform.

Short term use for business is really the only justifiable use in my mind.

I don't know the Ohio market, but the 1% rule hasn't been true in much of the country for a while -- if you bought a 120k property to rent out here, there's NO way you'd get anything more than 750/month for it, IF that.

You can qualify for 100% financing once you reach a 575 FICO and can provide income to justify the payments.Once you have done that, and have your credit where it needs to be, try purchasing another house in your area as your new residence.

Under present rapid acquisitions rules, new real estate investors (non-seasoned) may acquire two non-owner occupied (investment properties for each of the first two years using financing from one lender.

jdunsava - I'd like to welcome you, however I must also warn you to follow our forum rules.

As someone noted AZ might be different but as a general rule a property tax lien is first in line.

As a general rule, the faster you can sell a loser, the better!

Hi Charles,I'm holding all my deals as rentals, so I use both a cash flow analysis AND the 70% rule (I'm currently using 50% due to the downside risk in the market) to determine the price I can pay if the house is in good condition.