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Updated over 7 years ago on . Most recent reply
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Motivated 21 year old
Hi my names joe and I'm 21 years old and I am a senior in college at the university of Tampa. I've been an entrepreneur my whole life and have recently for the past 6 months got heavily invested and interested in real estate. I've been on bigger pockets and listening to their podcasts religiously. I actually just received a $750 check as a dog bird fee from a real estate agent/broker.
So my main question what strategy to use for beginners to get their feet wet in this industry. Is it possible for a 22 year old out of college to get a loan if I have the downpayment ?
I really am interested in house hacking to get my foot in the door with investing and learn the ropes of being a landlord.
My goal is to save at least 10k in the next year and put it as a downpayment on a small duplex. (3.5% FHA loan , correct)
Thanks everybody for taking a look at this and would love to hear what people have to say. THANKS ! Go BP !
Most Popular Reply
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I'm 23, and haven't had an issue. It really boils down to your income and you having the money for the DP. Beyond that, it's just your credit score really. This all only applies to residential. Commercial is much different.
PM if you want to talk more. I'm on pace to buy 3 properties before this year ends