Hey everyone, my name is Jon Tysman. Long time podcast listener first time on the forum. I'm an 18 year old in Michigan, my "investing journey" started about 3 years ago when my history teacher introduced me to the stock market and encouraged me to setup a custodial brokerage account to start investing. Ever since then I've been researching everything I can that had to do with investing and real estate. I graduated high school last year and the plan was to take a gap year, work at a bank as a teller and eventually work my way into the mortgage industry and become an MLO. Long story short I've decided against going the MLO route so early in my career and am looking into going to college next year with scholarships and a 529 covering most of my tuition (ROI was my main concern with going to college in the first place). I've been looking for a house near the college I'm looking at going to and I've got a real estate agent and an MLO. The issue I've been running into is how to get financing for a deal. I have 6 people I know going to the college that said they would rent from me next year, so I know I'd have the money to cover the payment. I was planning on using my parents to co-sign so I would be approved (they're all for me starting in real estate this early), the issue is my dad is self employed and makes the most of his write offs every year, they also just recently built a rental property which obviously adds to DTI. My mom basically restarted in her career and has only been there 16 months, my MLO said we might be able to use her income when she gets to 18 months to qualify for a traditional but we'd been looking into DSCR loans to see if that would work. The company he works for has a minimum loan of 250k however and the properties I'm looking at are around 100-200k price range so that's out. My main question is besides owner financing does anyone know of any other loan product that might work for my situation, secondarily any advice you wish you heard before you started investing would be amazing! (sorry for the long post just didn't want to leave anything out)

Grand Rapids, Michigan

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