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All Forum Posts by: Ethan Dezzani

Ethan Dezzani has started 2 posts and replied 7 times.

Quote from @Kayla Givens:

Hey, @Ethan Dezzani! Congrats on getting a jump on things while you're in college - I wish I had had the insight and thought to purchase a home to house hack while I was your age! I'm curious why you were told you would need a co-borrower to get a 5% down option? Can you share a little more insight into what your lender told you? Typically, if you are going to occupy the property as your primary residence, you can purchase a home for as little as 3.5% down using an FHA loan and 5% down using a conventional loan. If your debt-to-income ratio supports it, I would definitely go for the conventional loan option.

If I were you, I'd definitely plan on occupying one of the rooms. This way you get hands-on experience with property management and can take everything you learn with you when you get the next property. 


 Hey Kayla,

Thank you so much! I need a co borrower because being a full time college student my income does not qualify me for these loans. I think I could not do the FHA because if I did have a co borrower they would not be living in the property. I am currently happy with my current residence and was trying to see if there was a way to qualify for a 5% down without me or my co borrower living on the premises.

I am looking to buy my first property while in college. I have narrowed it down to a 3 or 4 bedroom single family with immediate value add potential. My plan is to rent out the rooms to other students. I have been told I can qualify for a 5% down loan if I have a co borrower. My question is whether or not I would personally have to live in one of the rooms to qualify for this kind of loan. I know that for an FHA I would need to, but in my senario where I would need a co borrower for all W2 qualification for the loan this would not be applicable.

Quote from @Grant Schroeder:

@Ethan Dezzani you could put as little as 3% down on a conventional loan as a FTHB. If you have a non occupying coborrower to allow you to buy now, you would need to put 5% down on a 1 unit and rent out the rooms. You cannot have a non occupying coborrower on a 2-4 unit with an FHA loan and still be able to do 3.5% down unfortunately. Glad to hop on a call and walk through the details with you if you'd like!


 Hi Grant, thank you so much that would be great!

Quote from @Drew Sygit:

@Ryan Schnitzler

If I had to start all over again, I'd look to acquire a 2-4 unit property with an FHA low-down payment mortgage.

Getting it under market value would be a bonus.

So, would using an FHA 203k renovation loan, which would allow me to buy something unqualified for a standard mortgage, which would weed out a lot of competition and push the price lower.

Hopefully, I would increase the value of the property in 1-2 years and be able to refi out of the FHA mortgage. I'd also learn a lot about maintenance and managing tenants.

Then, with my hands-on experience, I could decide if I wanted to repeat the process or target 5+ units - which my experience would help with lenders.

Good luck with whatever you decide to do!

I am also just starting out and looking to buy my first property while in college. What are some ways I could qualify for this FHA loan if I currently have no w2 income?
Quote from @Nathan Gesner:
Quote from @Ethan Dezzani:

Hey guys!

My name is Ethan Dezzani. I am 20 years old and going into junior year at ASU. My major is business communication and I have a minor in real estate. 

I have some money saved up and currently have it all invested in stocks. I want to transition out of the stock market and get into my first real estate deal. My goal is to buy a 3 or 4 unit multifamily that is in a good area with immediate value add potential. Then go ahead and possibly do some kind of househack it or just rent them out.

Being a full time student I am going to need to get creative with how I am going to fund this deal. I see my options as the following:

1. I was thinking I could partner with someone I trust and possibly qualify for some kind of FHA loan. The bank would be looking at my partner for whatever W2 and income verification that we would need to qualify for this loan. From my current knowledge my partner would have to live in one of the units. If I do happen to find a partner that would want this kind of agreement, I would be fine with it and just stay at my current residence. I am not even sure if this is possible. If this is possible however, I could potentially be able to control a very nice piece of property with what I have saved up.

2. Get very aggressive and put together some kind of seller financed deal. I have been thinking hard about this one and how I could make it happen. I would likely have to pay a pretty good premium to be able to have seller hold the note. I would be completely fine with this as long as I can make the numbers work. I immediately think of the phrase “I would be willing to give you want you want if you give me the terms that I want.” I am also trying to put a plan together on how I would be able to find a deal like this.


I am planning to make this deal a reality this fall or winter. I think that the market will soften a bit more and by that time I would be in a better position as a buyer. Especially if I am trying to do a seller financing deal.

I look forward to some great ideas and thank you in advance very much!! 

You could look at buying a property right now to house hack. It requires less than 5% down, which you should be able to borrow from a family member or friend. Live in one room, rent the others out, and the cash flow should enable you to pay back the down payment quickly. You'll live there for two years and build experience as a Landlord and enable you to step out and house hack something else after graduation, maybe a fourplex.


 Great thank you very much! What type of loan would I be looking at to be able to put 5% down? Being a full time student I do not have any solid W2 income coming in

Quote from @Nicholas Coulter:

@Ethan Dezzani Would you consider a rent by the room? Typically they have a much higher ROI. 5% down payment and renting out rooms near the college could be a great way to get started.


This is a great idea thank you. What type of loan would I be looking at to be able to put 5% down? Right now I do not have any income coming in. Would it be some kind of DSCR loan?

Hey guys!

My name is Ethan Dezzani. I am 20 years old and going into junior year at ASU. My major is business communication and I have a minor in real estate. 

I have some money saved up and currently have it all invested in stocks. I want to transition out of the stock market and get into my first real estate deal. My goal is to buy a 3 or 4 unit multifamily that is in a good area with immediate value add potential. Then go ahead and possibly do some kind of househack it or just rent them out.

Being a full time student I am going to need to get creative with how I am going to fund this deal. I see my options as the following:

1. I was thinking I could partner with someone I trust and possibly qualify for some kind of FHA loan. The bank would be looking at my partner for whatever W2 and income verification that we would need to qualify for this loan. From my current knowledge my partner would have to live in one of the units. If I do happen to find a partner that would want this kind of agreement, I would be fine with it and just stay at my current residence. I am not even sure if this is possible. If this is possible however, I could potentially be able to control a very nice piece of property with what I have saved up.

2. Get very aggressive and put together some kind of seller financed deal. I have been thinking hard about this one and how I could make it happen. I would likely have to pay a pretty good premium to be able to have seller hold the note. I would be completely fine with this as long as I can make the numbers work. I immediately think of the phrase “I would be willing to give you want you want if you give me the terms that I want.” I am also trying to put a plan together on how I would be able to find a deal like this.


I am planning to make this deal a reality this fall or winter. I think that the market will soften a bit more and by that time I would be in a better position as a buyer. Especially if I am trying to do a seller financing deal.

I look forward to some great ideas and thank you in advance very much!!