First Property by Christmas

[Account Closed]

So my fiancee and I currently live in southern California. Over the past three months of stalking this website and listening to the podcast, we have decided to set a goal of purchasing our first investment (buy-and-hold) property by December. We are currently looking at Milwaukee. We hope to start our careers in Chicago, so it seemed logical.

We have a few hurdles to overcome.

1) Both of us are currently students. I am a third year at UCLA Law, and she is an accounting major at SDSU. However, we have no debt (our school and lodging is paid for).

2) We don't know much about Milwaukee. I imagine that might be a big problem.

3) We have $200k, but it is nearly all wrapped up in retirement accounts. I am not sure if I can borrow against it.

4) We do not have jobs (no W-2s).

Anyways, with all of that facing us we are looking for a way to acquire a small loan (~$80-100k) and purchase a duplex or single-family. We have been scouring websites like Zillow, and sending messages to everyone we can.

Does anyone have any advice on how to acquire a loan? Is it even possible.

Newbie from LA.

[Wendell De Guzman]

Christmas is a good time to buy but the house might sit vacant for 6 months of WI winter. Just be prepared for a long vacancy. No one wants to move when it's negative 30 outside.

To learn more about Milwaukee, @Dawn Anastasi and @Mehran K. (once again, Steven Hamilton's reco is spot on)

Southside is tough and not for newbies.

Indiana is good too and can be reached within 45 minutes. Shout out to Sharad M.