Can I Even Buy a Multi-Family for $100k?

[Jasmine Wilborne]

So today I found out that due to my high debt-to-income ration (61-percent) that I cannot qualify for a loan bigger than $100,000. 

That puts a damper in my vision to purchase a triplex in the next few months. But not enough to stop me. 

I live in Baltimore City and am trying to think of ways that I can overcome this sad sad truth of being a college grad making just $10k more than what my student loans are. 

Any advice? 

What would you do if you were me? 

[Account Closed]

Originally posted by @Jeff B.:

Originally posted by @Account Closed:

I talked to a guy about a 5 unit place here in Colorado not more than an hour ago.  Asking price is $25k.  I know of a 4-plex available for $32k here in Colorado as well.  I had an offer turned down last week on a tri-plex...I offered $5k and the asking price is $10k - it's in Indiana.

I know if a duplex in Illinois that I'm currently inquiring on with an MLS asking price of $1,000.

YEAH! I saw a tax lien sale in this range too - - burned out foundation out in the Mohave - - too laughable for words. If that MLS for $1000 is such a deal, then why didn't you take it immediately?

Sorry man, this lacks any foundation for a sound REI endorsement IMO.

Don't blow smoke if you want any credibility.

By blowing smoke do you mean the $1,000 duplex....

https://www.zillow.com/savedhomes/for_sale/8868465...

...or the $25,000 five unit I inquired on today...

https://www.zillow.com/homes/for_sale/Pueblo-CO/ho...

...or the $32k 4-plex...

https://www.zillow.com/homes/for_sale/Pueblo-CO/ho...

...or the $10k tri-plex I made a $5k offer on?

https://www.zillow.com/homes/1420-fountain-ave,-ev...

Don't blame me if you can't find your own deals - I'm here to learn and to help folks out.  Nothing more, nothing less.