Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 8 years ago,

User Stats

5
Posts
0
Votes
Anthony Musi
  • Coraopolis, PA
0
Votes |
5
Posts

Need some tips for my specific situation (Beginner)

Anthony Musi
  • Coraopolis, PA
Posted

Hi all, I really need some expert advice here because I personally don't have many people to ask. I've been studying RE investing and following bigger pockets for quite some time now. I have my mind completely set on buying Duplexs/Triplexs or SFH in my area and renting them out and managing them myself. I'm 23 years old with a Full time job with pretty decent income over 50k.

I just have enough saved to afford a down payment on a decent duplex/triplex, but I am looking to currently take a mortgage out for the small cheap house I have been paying rent for through college.  I am afraid to take this mortgage out, will I then not be approved for a second mortgage if this initial house im living in is valued at 60,000 and I use a mortgage for myself? 

School debt is all paid off and my only payments would go towards my car and this small house and I could afford monthly payments on a initial investment property mortgage but will banks not accept me because I will have my own mortgage out soon? Any advice?

Loading replies...