Buying rentals

Buying rentals

If I wanted to purchase a property to rent out, would I have to have to ability to purchase the property on my own or would the lender take into consideration the rental payments?

The reason I ask is because I am going back to school full-time, therefore I won't have the income to qualify for a big enough loan. I have good credit, but is that enough?

Any suggestions?



Hi, Adam.

Welcome to the DG family. It's good to have you here. Smiling

It seems that the criteria for getting financing is changing with each new day. You never know what you'll qualify for until you just start looking into it. Keep looking until you find a lender that WILL work with you. There is also private money (maybe you know someone personally) and owner-financing, and a whole lot of other techniques for No Money Down. And I'm sure that you have found in Dean's book a wealth of ideas to get you started. Read and re-read that for those new ideas to sink in and become reality. Then put it to work for YOU. Smiling

I wish you and your wife the best in your new REI endeavors, and I know you will have that new house soon. I know how she feels. My family moved 16 times by the time I was 18. It was fun as a kid, but it sure is nice to stay in one place as an adult. lol

God bless,



"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)

"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11

For a little about me, welcome to the site, and a few tips for new DG family members, click on this link:

dear Adam.....

Afraid NOT, see unfortunitly with the lending requirments being as tight as they are, they aren't really trying to take any more chances than they have too, you need to show that you have the ability to re-pay(pay back) the loan, if i were you, i would keep trying and explain what your trying to accomplish, and that RENTAL INCOME will be a part of your INCOME and see what they say. On the other hand, like Rina said: think about ways you can structure your offer(s) with "SELLER FINANCING", and don't froget about "PRIVATE MONEY".



There are companies

Sully is correct. The lenders have tightened every part of their lending. There are still lenders that will allow you to use the income of the rental property towards your purchase at 75% of the rents. However, the most common requirement right now that accompanies this is that you have to have two years history at being a landlord. There may be some lenders that allow just the use of the rents with no attachments but they may be very hard to find.


If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125