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Updated over 10 years ago,
Ready for first deal...what happens next?
As a beginner in REI, I am ready to start making my first deal. my goal is to make my first deal by January February the latest. i am thinking of buying a duplex as my first deal.I have a sufficient amount of money for a down payment on a property but just need to get pre approved for a loan. Paying the monthly mortgage would not be a problem for me because i plan on renting the property or renting the rooms individually. so essentially it would be paying itself. the problem and issue i am having is how do i prove to the lending company that i can make those payments when on paper it doesn't look i will be able to??