i married have a house i want to purchase a second home to rent it can i qualify my self for a loan

Asked by Oscar, Los Angeles, CA Sun Jan 11, 2009

let me know

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Keith Sorem, Agent, Glendale, CA
Mon Jan 12, 2009
Oscar
this is a great question.
A couple of things to consider:
If you are considering real estate investments as a way create income and an investment portfolio, thenI encourage you to look at this purchase as part of a process. In other words, develop a strategic plan, as opposed to just 'buy a property".

An excellent resource is the link below. Gary Keller, Jay Papasan, and Dave Jenks wrote a book "The Millionaire Real Estate Agent" and while interviewing the top Realtors in the US, found one Realtor that had a small book of business, but made a lot of money. It turned out she worked with Real Estate Investors. So they wrote a book it was on the NY Times best seller list "The Millionaire Real Estate Investor"{ or MREI as we refer to it).

By the book. Visit the website. Find someone that can mentor you in real estate investing. I have owned (see my profile) investment property and would be happy to discuss your questions.

Good luck.
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Alexandra Pa…, Agent, Montebello, CA
Mon Jan 12, 2009
I have had several clients that are married and buy a second home under their name only. There are different factors that will determine if you qualify or not. For example your income is an important factor, the type of loan, the amount of debt and the list goes on. I can refer you to several lenders that are good. Let me know.
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Grant Linsco…, Agent, Los Angeles, CA
Sun Jan 11, 2009
Hello Oscar,

The first step is to talk to a lender who will pre-approve you for a mortgage (several are below). The next step would be find a good buyer's agent who can help you locate a property that will receive great income and be a great second home investment. Once you have talked to a lender and are pre-approved I would be happy to show you some great investment properties in several areas of Los Angeles that will work well for you. I help a lot of clients all over town find excellent investment opportunities. Please let me know if I can help you as well.

Best,

Grant Linscott
Keller Williams Realty
323.333.6222 cell
grantlinscottproperty@gmail.com
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M.D.J, , Los Angeles, CA
Sun Jan 11, 2009
Yes, you can qualify for a loan and buy a house on your own without your spouse. If your interested in getting more information on how to accomplish that then let me know.

Good Luck to you.
0 votes
Richard Schu…, Agent, Los Angeles, CA
Sun Jan 11, 2009
I can help you find out your loan options and help you find a great rental property. I specialize in investment rental properties, and help my clients find rental properties with cash flow and excellent long term value.
Contact me to find out more.

Richard Schulman
Keller Williams Real Estate
#1 Listing Agent, KW West LA
#1 Selling Agent, KW West LA
http://www.richardschulman.com
schulmanrd@yahoo.com
(310) 482-0173
0 votes
Dallas Texas, Agent, Dallas, TN
Sun Jan 11, 2009
It is undetermined till your financial records are reviewed by a mortgage broker which includes credit scores, debt ratio, employment history, downpayment. Lenders have tighten restrictions regarding homeowner not occupying a residence. However have all reviewed find out what your options are.
Web Reference:  http://www.lynn911.com
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