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Updated about 8 years ago,
Financing first rental property
Similar posts have probably been posted a million times, but I couldn't find it, so here it goes.
My question is if there is any way to get a mortgage/loan from a bank or other entity to finance my first rental property. I am pretty young and I'm still studying, but I think it's never too early to start. I've also been reading a lot about real estate as well as attending seminars, watching videos, and asking questions. I always review on my head all the steps to do to buy and rent a property, but I always get stuck in the financing part. A bank will not lend me money unless I have a stable job that ensures them I will be able to pay back. And no one really takes me seriously to give me money from their pocket.
So, what do you propose? Do you think I should just find a great deal, use tools like the rental calculator to try to predict future profits and losses, and present it to someone?
Thanks.