Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 2 years ago,

User Stats

1
Posts
0
Votes

Need advice on buying my first house hack

Posted

Alright so this is my situation.. I'm 25 and work as a waitress, don't make much money, don't have a lot of money saved and have built absolutely zero credit. I live in Stephenville Texas which is home to a big D1 university with a lot of college students and rodeo people that rent year round. What I want to do is buy a property with land for horses as my primary residence that I can fix up over time, rent out rooms and horse stalls to tenants and then have this be my first investment. Obviously my problem is money and being accepted for a loan, but I am not worried about my mortgage being paid off over time by having tenants, because rental properties with horse accommodations are hugely sought after and get filled up very quickly due to the large rodeo presence in this town and college kids. I have someone that would maybe pay for the down payment and closing costs, but how what would be a good plan in paying them back?


So what should I be doing to make this possible for myself as a first time investor and what would be the best way to achieve this.  I am very new, but just want to get started.

Loading replies...