All Forum Posts by: Ash Vill
Ash Vill has started 1 posts and replied 3 times.
Post: 21 and looking to get a loan, but don't qualify
- Florida
- Posts 3
- Votes 1
Originally posted by @Jerry Ellis:
What's the estimated cost to repair and do you have those covered or are you going to need money for that too? Maybe you can house hack in Naperville? I'm thinking about the holding costs and time needed to get the work done in Champaign will factor in. For example, we had a storm come through here a while back and the roofers are covered up doing all that insurance work. I'm having trouble just getting any of them out to do an estimate.
The house I'm wanting doesn't need many repairs. It'll probably need some painting, replacement of the carpet, and cupboards. I'm going to look more into house hacking in Naperville, thank you.
Post: 21 and looking to get a loan, but don't qualify
- Florida
- Posts 3
- Votes 1
Originally posted by @Jerry Ellis:
Hi Ash,
Will you be living in Champaign or just investing here? House hacking comes to mind but maybe that won't work for you.
Hi Jerry 👋
I'm planning on living in Naperville but I have thought of the possibility of living in the house I'd fix up then moving out.
Post: 21 and looking to get a loan, but don't qualify
- Florida
- Posts 3
- Votes 1
I've been wanting to get into real estate for quite a while. I've been into the idea of investing since I was younger and this has always seemed like one of my steps to take.
I'm looking into getting a single-family home in Champaign, Illinois. I want to purchase the property, fix it up, and rent it out.
I've looked into so many loan options but I can't find anything because I don't have a job history or don't have the income. I'm set for a new job starting next month that will give me an income of 2k+ a month now. I've had major depression all my life so the odd remote jobs I've worked don't count as job history, which is very frustrating.
I don't currently own property. The property I'm currently wanting is around 60k and would get a monthly rent of around 1.5k+ a month.
I'd probably have to borrow money to pay for a down payment, but I'd be able to pay off whatever I've borrowed. I have a credit score of 740 and a basically perfect credit history, but it's not a long history.
If anyone can give me any kind of advice, I would appreciate it so much.