Today’s first caller has the opportunity to buy an entire portfolio of rental properties from another investor. But because he’s new to investing in real estate, he’s worried that lenders might laugh him out of the room. So what’s the best way to obtain financing on a bulk deal? That’s the first question I’ll be answering on today’s show!
This Q&A episode of Investing in Real Estate features three of your great questions on financing multiple rental properties, how to use rental income to obtain a loan, and how to get out of the rat race. Click play to hear my answer to your investing questions!
On this episode you’ll learn:
- How to find financing on a bulk deal.
- How to count rental income to qualify for a mortgage.
- What to do to get out of the rat race.
- And more!
How to Find Financing on a Bulk Deal
If the properties in a portfolio are truly a good deal, you shouldn’t have any trouble finding financing. Don’t worry about being a new investor — everyone has to start somewhere! Here are a few resources I would recommend:
How to Count Rental Income to Qualify for a Mortgage
Many lenders will allow you to count rent toward your income, and therefore you can qualify for a larger mortgage. You just have to be prepared to prove that income and cash flow. Usually, you’ll need two to three years of statements.
What to Do to Get Out of The Rat Race
I’m a firm believer that financial freedom can’t be found through the system of W-2 jobs and traditional retirement accounts. One thing you can consider is intentionally building multiple streams of income. If your only income is earned through a paycheck, it will be very hard to build wealth.
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Episode Resources
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How to Pay Off Your Mortgage in 5 Years
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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