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.
Multi-Family and Apartment Investing
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 over 6 years ago,

User Stats

9
Posts
1
Votes
Jordan Lewis
  • Rental Property Investor
  • San Diego
1
Votes |
9
Posts

Help!!!! (Urgent) Creative Financing

Jordan Lewis
  • Rental Property Investor
  • San Diego
Posted

Hello everyone I hope all of you are having a wonderful Sunday. Just a lil about myself, I am a recent graduate (October 2017), live in New York City but move from Massachusetts where I go to school to SoCal California to live with a friend that currently goes to school in Los Angeles.

Anyways my issue is after I move to California I started to work in December as a data center technician contractor in Irvine, the job lasted for 3 months since it was a 3 month contract, I’ve been researching about real estate since I started the job then decided that I wanted to invest in it.

I devoted all my time and effort since March into real estate to learn and network, went to one meetup in Irvine, met the guy that hosted the meetup (Great Guy!) schedule to have lunch with him and he told me I should start off wholesaling and bring him deals since then I’ve been driving for dollars while using property radar unfortunately things haven’t been getting any better for me and my emergency saving is running out so my back is against the wall since my my rent with my roommate comes up to 2k monthly.

This comes down to me considering to go for an FHA loan to get a 3-4unit MF home, live in one unit while renting out the others, my issue for this is that I don't have any proof of income and I was working for my school but all I got was cash in hand (Cheque) so I have nothing to show for that.

Unfortunately unlike other people I don’t have anyone to co-sign for me for any of these investment opportunities I could take and my father lives in New York City, he doesn’t like the idea of me getting a property, he just thinks I should get an IT job and pay rent that’s what I went to school for all these years but it hasn’t been easy getting a job so now I’m taking into account that I could Uber and I can make atleast 300-400 a weekend but I plan to do it everyday to get extra cash in, I’m so hungry to become successful I won’t ever give up, instead of saying I can’t do it, I’m just trying to find ways to do it, like most successful people and I know it isn’t going to be easy and I’m living way below my means, my favorite meal is pack ramen now cause it’s the cheapest haha.

Anyways my question is in my current situation what would you advice me to do to be able to achieving owning a MF property to do the house hack with FHA loan, can Ubering be use to qualify for me for the FHA loan?

Also remember I’ve been paying 2k monthly with my roommates since October.

All advice is much appreciated, just please be respectful, I’m young and I’m trying my best to do good so everyone can be proud of me.

Loading replies...