Hello All. I am New to Bigger Pockets. I am 20..in college in Texas. I have been wanting to get into Real Estate for the past year or so. I am now in a place where : My grandfather is going to sell me his house for 100K to help me get a start in real estate. The house is in a suburb of Houstoin, a great neighborhood, great schools, etc. It does need some work...primarily a little cosmetics but otherwise great house actually. It is 2 story, has new flooring, new roof, new paint inside, new appliances, 2 new A/C units, 2 New Hot water heaters... it is valued on zillow at 370k it think, which is about accurate with the houses selling around it. the house is 4 bdrm / 3.5 bth / 3100 sq ft. on a Big Lot.

My credit score currently is 795. I am Not working. I am full time student. I Don't want to sell the house ...i want to keep it. but would like to put some cash in my pocket somehow. i even have some friends of my mom that would like to rent it if i decide to do that. Also I dont want my Grandfather to owner finance..I want to be able to give him his 100K for the house. I do not know how to get a loan if I do not have a job to show income. Also would like to know --- if i somehow get financed for the 100k... how would i use the equity in the house to my advantage to help me get an additional property ? another question. If my grandfather gifted me the house if i cant get financed. would I be able to get some type of equity loan(with no job) once in my name and I could then pull out the 100K and give it to my grandfather that way???? SORRY for the long Post.... just trying to paint as clear a picture as possible. ANY suggestions, advice, etc.. would be GREATLY appreciated. Thank you.

Houston, Texas

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