All Forum Posts by: Ben Harhager

Hello everyone,

So I finally have 2yr work experience, 778 credit, and about $10,000 saved up. I’m waiting until I have $18,000 - $20,000 to move out. I’m expecting a promotion within the next year as well. So I’ve got a little bit of time to decide. I’m approved for 130K right now. And would like the pay around that much even if I get approved for more in the future.

The big question is: Should I buy a a duplex or single family home? I definitely know I don’t want to rent. I still live with my dad at the moment. And I want my money to be going towards a mortgage instead of to a Landlord. I also know that I don’t want to get emergency calls to fix the neighbors toilet right after work either. I know it a lot easier to afford the duplex most of the time unless something breaks.

Idk for my first house do you think it smarter to be able to charge a tenant most of what the bank is charging me for mortgage. Then only end up paying like $250 a month if nothing goes wrong??

I’m 20 yrs. old. Have a full time job (35k annually). I’ve been at my job for 1 year. I’m looking to buy a duplex (live in half and rent the other half out).  I’ve already shopped around for a mortgage. Every place I’ve looked into requires a 2yr. Employment history... is there any where that could finance a mortgage? Also I know a hard money lender. Do you think it is smart to take the hard money lender route until a traditional bank could pick up the remainder of my loan? 

For the past 3 years I've never been unemployed for more than 2 weeks. Im only 19 so my last couple years have been spent going to high school and working a part-time job. My current job is my first full-time job. This is also the first job in my industry. I was just wondering if there were any suggestion on bypassing the 2 ear work history factor. My credit score is about a 785. 

Im looking to purchase my first owner-occupied rental property in Ohio. I've only been at my current job for 6 months and never went to college for my career. I have very good credit and low debt/income ratio, but the work history seems to be holding me back. When I went to the bank to discuss a loan they seemed to have no exceptions. Are there private loaners that may be able to help?