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How to Buy Investment Property when you’re Laid Off | Mentorship Monday 069

1,892 views · Published 16 October 2017 · 4:04 · Indexed 8 November 2026

Channel: DeRosa Group · 2017 · Education

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Welcome to today’s Mentorship Monday. How to use Equity to buy Investment Property when you’re laid off.

Please email us all and any Real Estate questions at [email protected]

On today’s episode Matt answers Robs question on what to do when the bank won’t give you a loan because you’re “unemployed”.  This can get tricky especially if you have a cash flow coming in from other properties you may own.

Thanks for your question Rob!

Rob already has a few investment properties that are doing well and creating cash flow.  They have low mortgages and a good amount of equity in them. This becomes a problem since Rob is laid off, the bank looks at him as “unbankable” because he doesn’t have a W2 that shows a steady income.  Here’s some creative suggestions for when you need to use equity to buy investment property.

Being laid off actually gives you one of the most desired assets of all.  TIME!  Most investors wish they had more TIME.  Now that you have TIME you can be the “legs” of the operation.

Find a partner with NO TIME but great credit.  By selling them a small percent of your equity you can use this new found partner to secure future bank loans.  Creating a profitable situation for everybody. 

At times like this, when you find yourself in these types of situations, creative deals and financing can play a major role in keeping your business rolling.  

For more information like this, tools, resources and insider information we don’t share anywhere else, visit us at http://www.derosagroup.com/ and join our mailing list.

Learn more about Matt Faircloth and The DeRosa Group by visiting http://www.derosagroup.com/ or https://www.biggerpockets.com/ 

Matt and Liz,  founders of the DeRosa Group, are second-time guest of the Bigger Pockets Podcast.

Check out show #88 - https://goo.gl/KCMYWs  

Check out show #203  - https://goo.gl/ECSSDH

See more of our videos by checking out the links below.

-How I bought a 18 Unit building Apartment with NO Money out of Pocket
https://www.youtube.com/watch?v=3dDRVGYI1wg&t=6s
-How I turned a Duplex into 20 units
https://www.youtube.com/watch?v=JzhkWhyssaM&t=7s
-How to Remove a Bad Tenant (without having to evict)
https://www.youtube.com/watch?v=FnGZQOebixY&t=122s

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