All Forum Posts by: Hae-Yuan Chang

@James Wise, thank you for the information, it was exactly what I was looking for! Definitely beats taking a conventional job for two years :D

@Dmitriy Fomichenko, thanks so much for the kind words! Definitely going to take advantage of everything BP has to offer:)

@Ash Alam, haha sometime I go out and be 21 years old, but I mostly research and read about investing. Nice to meet you!

Hey everyone! Nice to virtually meet you!

I am very stoked to be member of Bigger Pockets. I am a 21 year old aspiring investor and entrepreneur. I am taking a permanent college hiatus to pursue big things. Other interests include dancing, vegan cooking, fitness, sustainable living, and graphic design! My goal in life would have to be being able to fund all my creative ventures by means of passive incomes. It's also my dream to take my parents on trips and show the the world. So, I have decided to start now, as I am still young.

I have already planned on buying and holding the house I currently reside in (buying next May) and plan on acquiring another buy and hold this year. The only thing I am worried about is not having and never having income. I know for loans you need to show two years of income, but I don't have this. I don't want to take a job to fulfill this requirement. My mom is willing to be a partner and get a loan through her, however! I am doing more research whether this could eventually count as income for me.

Being a real estate investor would be out of my comfort zone, which I'm incredibly excited for. I'm a bit of an introvert, and I have been learning how to negotiate and the art of speaking. I have a knack for design and marketing, which I will use to propel me forward. There are so many things that real estate investing will teach me, and I'm embracing it! The art of creative financing and real estate in general is fascinating and I am ready for the journey!

If you have any tips for young, aspiring investors, please let me know! And feel free to reach out! Once again, nice to meet all of you. I will be hanging around these forums often.

Thanks for the information, guys! 

@Josh Mitchell,  to be clear, do you mean if we do a conventional or any type of loan with her name on the mortgage, it could still count as income for me as long as it's a rental property and for two years? Thank you!

Hey everybody! This is my first post! Nice to virtually meet you.

So my roommate/landlord is selling the house at which I reside for 100k. We decided it was a good price and we are coming up with ways to fund it. I have never had to work, so I don't have any income. However, my mother is willing to help with getting the loan and putting down a down payment. I will be getting the house next May and living in it for two years. After, we may have a property manager manage it. So I have a few questions:

1) In a FHA loan, it requires the owner live in it. My mom and I will be both on the title. Even if her mortgage is in her name, could we still get a FHA loan? Could we both be on the mortgage if that helps any? Would it be worth it if we plan on buying and holding?

2) Could this be considered as my income so that I would be able to qualify for loans in the future? 

3) Would a conventional mortgage be the best bet? 

Thank you guys so much, I appreciate any insight anybody may have :)