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Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

You need to speak with an experience real estate agent and a mortgage professional to get those questions answered.

Apr 09, 2019 10:16 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

You should select a professional buyer agent and the agent will recommend a mortgage loan officer for the needed pre-approval for the financing.

Apr 09, 2019 09:45 AM
John Juarez
The Medford Real Estate Team - Fremont, CA

You should contact an agent in the area in which you wish to invest for guidance. The agent can connect you with a mortgage professional who can answer all financing questions and approve you for a mortgage if possible.

Good luck!

Apr 09, 2019 09:39 AM
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Get pre-approved with Jason E. Gordon and then call me to buy that hjome here in San Diego, CA. Need a referral to an agent elsewhere, contact me I can help.

Apr 09, 2019 06:22 PM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Nina Hollander has the best advise for you.  Good luck.

Apr 09, 2019 04:49 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

You need a good real estate agent in your area AND a great mortgage professional who can answer your questions and determine if you qualify for a loan based on your income and cash,  and for how much.

Apr 09, 2019 03:17 PM
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Give me a call and we can discuss some options.

Apr 09, 2019 02:02 PM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Eddie Rios - align yourself with a great real estate agent in your market and that agent "should" have a lender than can help you. 

Apr 09, 2019 01:52 PM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

The first step is to find an experienced licensed mortgage broker in your state.

Apr 09, 2019 01:47 PM
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Eddie, there are many ways.

If you are willing to place a down-payment equal to 50% of the price,there are many more ways.

However, you have not proven yourself worthy of the details. Stop tne Anonymous BS and you might get to respond to the right questions thatwill result in actionable responses.

Apr 09, 2019 01:03 PM
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

a well-versed agent and mortgage officer is what you need...along with a name and photo....

Apr 09, 2019 12:50 PM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

If your income doesn't justify it, it's not likely you can borrow money to purchase an investment home.

Apr 09, 2019 11:09 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker

You need to talk to a traditional lender and get prequalifed, they will tell you if they will make the loan.  You can also talk to a lender who does investment type loans (hard money and rentals)

Apr 09, 2019 10:50 AM
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL 305-931-6931

No idea.

Jun 14, 2019 10:21 AM
Diana Zaccaro Broker Associate
Tropical Beachside brokered by eXp - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

Those are questions for your lender (banker or mortgage broker) to answer. Once you know if you qualify and the amount, contact a Realtor to help you find the right property.

Apr 09, 2019 09:43 PM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Contact a reputable lender that can give good advice. If you can't afford it, wait until you can.

Apr 09, 2019 06:55 PM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Many good responses.

Apr 09, 2019 06:31 PM
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Good luck. We are not in banking industry.

Apr 09, 2019 06:13 PM
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Sounds to me like you need a hard money lender. If you have enough money to come in with half, your terms aren't going to be that attractive but once your property is generating income then in a few years you should be able to refinance it.

Apr 09, 2019 11:58 AM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Keep at this seeking, asking and knocking and the answer will appear

Apr 09, 2019 10:52 AM
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Best of luck.

Jun 18, 2019 03:41 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Contact a seasoned agent in your area, and they will be able to guide you in the right direction.

Apr 24, 2019 02:42 PM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Use should have lots of money so pay cash.

Apr 11, 2019 04:40 PM
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

Lots of options depending on the property and the current owner

Owner held financing

if you have enough money to put down some lenders are more open to lending even without income verification... most often though many use hard money lenders for this more information would be needed to say what other options are possible and right for you... find a great buyers agent that has a lot of experience and works with investors

Apr 11, 2019 07:53 AM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Choose the location where you want to invest in a second home, then align yourself with a great local agent and lender.

Apr 10, 2019 02:01 PM
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Get a confirmation from a lender for how much you can/want to spend for your second home, find a home that fits your criteria, buy it. Repeat if necessary.

Apr 10, 2019 11:30 AM
Ryan Huggins - Thousand Oaks, CA - Thousand Oaks, CA
Residential Real Estate and Investment Properties

You'll want to talk with a agent in your market place.  Preferably one that specializes in investment properties and property management.  They should be able to set you up with a good lender that can help answer some of these questions.

Apr 10, 2019 11:17 AM
Jason E. Gordon
AmeriFirst Financial Inc, San Diego, CA - San Diego, CA

The logical first step in the homebuying process is to get Pre-Approved for a mortgage loan. While that might sound self-serving coming from a Lender, I wholeheartedly stand by that statement (regardless of which Lender you choose to work with). It doesn't matter if the "subject property" home will be your Primary Residence, Second Home or Investment Property...the Pre-Approval should still come first before any shopping is done. 

If any Real Estate Agents are writing (or heaven forbid accepting) offers without a solid Pre-Approval Letter in place, you are playing a dangerous game of Russian Roulette, while endangering your Client and your own professional reputations (not to mention wasting valuable time that you will never be able to recapture).

As far as this particular scenario, this sounds more like an Investment Property purchase (as there is a desire to utilize some of the "rents received" to offset the new mortgage payment for qualification purposes). The "good amount for a down payment" might be helpful in this instance.

I would be happy to take a look if/when desired.  You are welcome to call me at 619-200-8031 or email 

Either way, I hope the general information above is helpful to get you on the right track. It goes without saying that Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D has got you covered in San Diego, and his nationwide Realtor network definitely can seek your best interests in other parts of the country.  Good luck, and thank you for posting this question!

Apr 10, 2019 08:32 AM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Higher a good buyer agent. Get pre approved for a mortgage. KNOW up front what you can or can not buy, what the dpwn payment is and such. WIth an investment property they can cound most of the rent towards your income. 

Apr 10, 2019 05:41 AM
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Shore or Mountains ????

Apr 10, 2019 04:53 AM
Frank Rubi
Frank Rubi Real Estate, LLC - Metairie, LA

speak to a loan officer first. 

Apr 10, 2019 04:45 AM
Debe Maxwell, CRS | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Seek the advice of a lender firsst - qualifying for a second/investment home, your income & expenses and cash-on-hand will all be taken into consideration.

THEN, reach out to a real estate professional in the area in which you're interested in purchasing real property.

Apr 09, 2019 08:26 PM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Anonymous, how can an agent help you if they do not where you are located.  A

Apr 09, 2019 11:14 AM