What Would You Do? Frustrated Young Investor...

[Clay Manship]

I am 23 years old. And I wish I wasn't. I am an aspiring buy and hold investor, and have already closed on my first property. I make $50,000+ annually, have a 720+ credit score, and no debt. But I am stuck. Here is why:

-I closed my first property on a conventional fixed rate mortgage, 30/30. It was a Fannie Mae loan, and since I closed on it in October, lending parameters have changed so much that no bank will allow me to conventionally purchase an investment property.

-Because I am 23, no portfolio lender will lend to me either. ALL that I have spoken with require at least three (3) years of tax returns indicating a stable job before they pre-qualify me for a loan. They also want to see real estate investing experience, which I can't get due to not qualifying for a conventional mortgage on an investment property.

-Sellers are unwlling to accommodate reasonable seller financing terms with me due to my 1) lack of real estate experience and 2) only having worked in a corporate job for 8 months.

I see you all with multiple properties and questions every day and I envy it so bad. I feel like I am stuck at a glass ceiling that those who are not entry level investors right NOW are unable to see. How do I break through? Any creative strategies? I hope that this post is not misconstrued as whining, because I have been exploring every avenue possible.

For those of you who have been here, please help me break through. I am excited to make this a career, and I was told that my first deal would be the hardest. Just isn't the case right now. Would appreciate any advice. Thanks to all...