19 Years Old Can’t Get A Loan

[Ryan Harner]

I have been wanting to get into rental properties for a little over a year now. I’ve picked up lots of books, listened to lots of podcasts, and am currently in the process of getting my real estate license. I’m taking a 90-hour prelicensing course and have talked to a few brokers to get info about the real estate game. There are a few properties in Lafayette that are good candidates for a rental property and I would be wanting to move into one side of the duplex to start off. On the other side of the coin, I can’t get a lender to lend to me because I haven’t built enough credit and I am young. Is there anything I can do to get ahead of my age and my credit score? I am thinking about asking an investor I personally know from Chicago to partner with me and lend to me, and I’ll pay him pretty good interest to take a high risk loan and would give him the house if by some divine odds I fell back by only $1,000 dollars in payments. How do I approach him, and what details am I missing that I should mention to him?