Well I will be closing on my first and most recent investment flip within the next week or two. I am pretty much maxed out on conventional financing and am right at 50% debt to income.
Can anyone help me with any creative ways to continue to make money without financing? I was thinking of the possibility of finding deals and putting purchase contracts on properties and then selling the option to others investors? I don’t believe that I need cash or credit to do this. Any other suggestions?
Sean
Sean, Depending on your credit you may be able to go stated income. This would address the DTI issue. The rates and parameters are not as inviting.
Depending on your exit strategy, if it’s a long term keeper, use a long term NNN lease coupled with an Option. The lender will give you 100% credit on the income of the property, read that no DTI hickey) if you can show them you have no maintenance and vacancy issues to worry about. BTW, did you ever see any of my commercials on Rocky Mountain TV?
Regards,
Dave
The commercials don’t ring a bell David. Are you in this area? I was thinking about doing more short term properties to begin with but am open to any alternatives.