Excited Beginner in Delaware County PA!

[Colin Jones]

Hello BiggerPockets! My name is Colin, I am a 21 year old aspiring investor in the Delaware County area. This post may be a little long but I hope it’s worth reading!

I’ve been on BiggerPockets since mid 2019. I became interested in real estate investing when talking with some friends of mine at the end of college. I was hooked by the idea immediately and started researching how I could get involved as fast as possible. I spoke with my dad’s real estate agent who recommended that I look into BP to help me get started learning the trade. Since then I have listened to over 30 of the RE podcasts, helped my dad flip his first property, read Rich Dad Poor Dad, and I am working my way through the Ultimate Beginners Guide. While reading the UBG, it recommended that I get involved in the BP forums so this is my first response to that direction!

Thus far I have read through a few threads posted by beginners (to get an idea of what I should say) as well as some general advice threads. I just recently got married and my wife, Ana, who is a wonderful supporter of my RE ambitions, has agreed to house hacking for our first investment. The major barriers I have run into thus far include developing a network/team (which I'm hopeful will change soon) and finding mortgage financing for our first few investments. I am most in need of a mentor in the Delaware County area that I can work for (for free) to learn about the local market. In regards to the financing, my wife and I have great credit and more than enough assets for a down payment on an FHA loan; however, because she has just begun her job and I am waiting to start a paid position at a local PHD program, we don't have enough employment history to get a loan from what I have been told. I am having difficulty discerning whether I need to be patient and wait longer or if I just haven't exhausted all the potential resources.

In any case, I am very excited to be a member of BP and I promise you’ll be seeing more of me on the forums!

[Kelsey Herbst]

Hey Colin! In regards to employment history, have you been/are you a full time student? When I applied for loans my employment history was not consistent as I was a recent college graduate who just entered a full time job with my degree. They did not care about the 2 years of consistent employment history as I technically had an “excuse” being a college student. That doesn’t mean you don’t need a W2 job currently, you do, but you may have wiggle room on the 2 years they want to see, as long as your credit score is in good shape and you are currently employed.