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Updated almost 6 years ago on . Most recent reply

User Stats

14
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7
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Gabriel Krut
  • NC
7
Votes |
14
Posts

Financing Options for a 20 year old

Gabriel Krut
  • NC
Posted

   Per the title, I am a 20 year old college student interested in picking up my first rental property by the end of the year. I have found what I think to be a deal and am interested (even if just as an exercise) in my financing options. This is OOS, so I won't be living in it. I do not have two years of income to show, due to school. I have the down payment support of my mother, but am unsure of what my loan options are given my situation.

   Do I have other financing options? Should I ask around and try to raise the capital needed to buy the home outright? Thanks in advance!

Most Popular Reply

User Stats

33
Posts
13
Votes
Leon Collins
  • Rental Property Investor
  • Tampa, FL. 33619
13
Votes |
33
Posts
Leon Collins
  • Rental Property Investor
  • Tampa, FL. 33619
Replied

Hey Gabriel, welcome to real estate! If I were you buddy I would search here at Biggerpockets for lenders. They can give options depending on credit score and work with your down payment. From a deal perspective, if you have any questions there you can share some details and I'll try to help. I love analyzing properties.

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