I'm curious if there are any other agents out there that are investing in properties in today's market.

I'm having an AWFUL time finding loans with being a agent. My income has grown greatly this year (About double over last year) and am wanting to buy a few rental properties. Unfortunately I won't find anyone that will allow no-doc loans, regardless of LTVs.

Owner finance!

If you have a down payment there a plenty of properties out there. Look on your MLS and on Loopnet, and Costar.

Have them hold a note for 2 to 3 years and then cash them out.

They will usually hold a note for lower interst rates than what is out there. I only do these is they give good terms and the property is fully paid off so that I have the deed and they hold the senior note.

I'm absolutely investing in Real Estate right now. The deals are too good to pass up!

Even if they go down some from here, that's fine by me...I'm more than able to make them positive as it is.

Is there a reason that you have to go no-doc?

Maybe find an investment partner to go in on it with you? Use your cash and their credit? Just a thought...

talk about irony...realtor getting denied to purchase a home. i agree with ManFromTheBand, find a partner, maybe you guys will have enough to buy 2, if you close both at the same time your credit only gets pulled once!

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www.ForeclosureLook.com

Have you had a no-doc loan with anyone in the past? Go back to them. CW offered me a "stated assets-stated income" loan 2 months ago "because you're self-employed" when I started looking to re-fi some short-term construction loans into 30-yr notes.

Yes, I haven't bought a house since May '07, but currently have 2 in mind to check on once the loans I'm working on now are finished up. It is a tougher market here - deals aren't as plentiful, but there still some.

Most definately!
4 months ago I bought a 12 unit building very near a University and the houses on eithe side of the building. I booted all the deadbeats and renters that were paying much lower rents and converted it to another student rental. Did a full remodel on the 12 units adn as of today they are all full for the coming school year. The houses were rundown so I leveled them and paved them for parking. Just rented the last extra parking space today. God I Love Student Rentals!

Paul, that is a great story. Congrats on the successful conversion. I have found it very difficult to force deadbeats out of these types of properties. If you don't mind me asking what universities are close to your property?

Illinois State University and the University of Illinois

Thanks for your post Brandon. Yes, I am finding a huge demand here in the Minneapolis real estate market by investors. With so many homes, townhomes, condos, multi-family properties for sale on the MLS, buyers are having an absolute "hey day."

Granted many of these homes are bank or corporate owned, so they are really priced to move. But wow there are a ton of choices out there for investors...that CASH FLOW pre-tax.

Lastly, in regards to financing, I have not heard of anyone getting a no-doc loan anymore. However, with 10% down and a solid credit score, you should be able to qualify. Check around for lenders that just do investment property loans.

I hope this information helps. And thanks again for your post!

In Real Estate business, we can able to buy and sell our properties.It is easy to sell and buy land, home, and factories through real estate business man.
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cassey


http://foreclosures.gov-auctions.org

Sounds like you are contacting the wrong kind of lenders...

Look at small town banks and portfolio lenders - you are looking for bankers who have more flexibility - those who keep their own in-house loans are often able to help those of us who are self-employed. Otherwise it's like trying to fit a square peg into a round hole....

Yes, still buying and flipping. When I need a loan, the small local banks still work for me.