Full time REI? - Posted by Carl

Real Estate Investing Real Estate Financing
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Posted by Michael on January 27, 2002 at 16:29:02:

Graywolf,

Would a mortgage broker be better than going directly to a lender? I am also recently self-employed, with an excellent credit rating. And does it matter whether the broker or lender is local or not?

Thank you,

Michael

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Full time REI? - Posted by Carl

Posted by Carl on January 26, 2002 at 14:31:21:

I have recently left a business I was running and seriously considering pursuing REI full time. I have rehabbed two SFH’s while living in them, and been pretty successful with them. My wife and I will have a tidy sum when we liquidate and want to do rehab’s full time.

We are geographically free and will be leaving the state for “greener pastures”. My wife is self-employed and can support our living expenses, although her income has been low for the past two years (her choice).

My biggest worry is tying up all of our funds too quickly starting out in REI because I would be newly self-employed.

How difficult would it be for us to qualify for OO or NOO financing in our situation? My mid FICO is 725.

Thanks in advance for any suggestions.

Carl

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Re: Full time REI? - Posted by Graywolf

Posted by Graywolf on January 26, 2002 at 23:53:11:

Check in your area for a good mortgage broker he can get past just about anything when you have a score of 725. If your wife also has a high score it’s even better. If you need any help e-mail me or call me at my office at (708)687-5800 Thanks.

Graywolf