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Updated 10 months ago, 02/07/2024

User Stats

14
Posts
5
Votes
Jordan Lisnow
  • New to Real Estate
  • South East US/New Jersey
5
Votes |
14
Posts

Getting a Deal in Early 20's WITHOUT being eligible for a lot of loans

Jordan Lisnow
  • New to Real Estate
  • South East US/New Jersey
Posted

I have posted on here previously, but I wanted to extend this message to anyone who has purchased an investment property WITHOUT having >50k in assets and not required to have a family member/friend co-sign for me (I am a 20-year-old, full-time college student). I am not eligible for a lot of loans, and even with a DSCR loan, I'm looking at 25% down with >8% interest. What other ways can I get creative with this? I have gone the hard money route and seems the loans are only for 6-12 months. Seller financing would be ideal, but it is hard to come by and still requires a decent amount of cash on hand. Additionally, I am not house-hacking since I will be relocating after graduation, but would want to keep my investment property in the area near my university.

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