First Time Buyer Trying to Find A Loan

[David Parathundil]

I am an 18 year old that has been wanting to start investing in real estate for years Over last year I saved around 20K working at Dominos as a delivery driver. I have found great deals in Tallahassee and I know I can rent it out because I go to FSU so I know a large amount of potential tenants myself included as I intend to househack. I am stuck on getting a loan because as of now I have no job but I have enough funds for a down payment but am curious as to what options I should pursue when it comes to acquiring a loan other than Seller-financing?

[Steven Foster Wilson]

Originally posted by @David Parathundil:

I am an 18 year old that has been wanting to start investing in real estate for years Over last year I saved around 20K working at Dominos as a delivery driver. I have found great deals in Tallahassee and I know I can rent it out because I go to FSU so I know a large amount of potential tenants myself included as I intend to househack. I am stuck on getting a loan because as of now I have no job but I have enough funds for a down payment but am curious as to what options I should pursue when it comes to acquiring a loan other than Seller-financing?

Hey David, congrats on saving that much! I too started while I was a sophomore at OSU. I bought a duplex on campus and turned it into a BRRRR deal. Ended up getting money back after a refi and now have rental income! Its a great way to get started!

Without having a w2 you will find it difficult to get a loan, especially with no experience. My recommendation is to find a partner with either experience or a great w2.