People get mortgages because they have a job and good credit, but can people get mortgages by only relying on?
their monthly income of their property and without a job?
Tags: because, Credit, Good, Mortgages, Only', People, relying, Theytheir monthly income of their property and without a job?
Tags: because, Credit, Good, Mortgages, Only', People, relying, They
Yes. But only on certain types of properties, commercial and some multi unit residential.
I have not had a “job” for almost 20 years. 100% of my income comes from the rent I collect. That has only been true for the last 2 years though, I used to sell some of my property and reinvest it. I am only buying now because of the market.
I have had no trouble at all obtaining mortgages and usually have 1 deals in escrow at a time. (only recently, I am grabbing as much property as I can get my hands on right now)
You are simply self employed. Pay quarterly taxes in order to keep your income up to date.