Need help before getting started...

[Logan Aaron]

Hey everyone,

So I am brand new into RE investing, but I’ve been researching and looking into it before I decide to start looking at potential properties to invest in. Right now I am very interested in acquiring a rental property as my first investment. Again, I am new to this so I have many questions that need answering, but my main concern right now is what kind of loan I would qualify for, or if I would qualify for a loan at all.

Here is my current situation: I am fresh out of school with around $35k debt in school loans. I have around $12k currently saved, and I work a steady accounting job which I started working in March. I still live at home with my parents and have no legitimate bills other than a gym membership and phone bill, so I am able to save approximately $2k each month. I have no credit card debt as I have no credit card. That being said, I have not really had anything to affect my credit score, good or bad. I think my credit score is currently around 650.

With all of that being said, I want to know if I can qualify for a loan and for how much. Also, if I can qualify for a loan, how much of one should I look into?