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All Forum Posts by: Joshua Ocean

Joshua Ocean has started 18 posts and replied 62 times.

Post: financing with a career change

Joshua OceanPosted
  • Rental Property Investor
  • Posts 66
  • Votes 21

@Nicole Heasley hi thanks for your response! yeah idontknow i talked to a lender in two different states and they both said id have to be in my new career job before getting qualified. i was on my way to being qualified before i mentioned that i was thinking about a move. so idk....i thought if i qualified and switched jobs or made a move....as long as i pay on time, it wouldntbe a problem....

could you touch base with a lender in your area and see if they agree?

Post: financing with a career change

Joshua OceanPosted
  • Rental Property Investor
  • Posts 66
  • Votes 21

@Elise Marquette hi thanks for your response! yes it will be a house hack and talked to a lender in two different states and they both said id have to be in mynew career job before getting qualified. i was on my way tobeing qualified before i mentioned that i was thinking about a move. so idk....i thought if i qualified and switched jobs or made a move....as long as i pay on time, it wouldntbe a problem....

Post: financing with a career change

Joshua OceanPosted
  • Rental Property Investor
  • Posts 66
  • Votes 21

@Dave Spooner thanks for your response! yes it is w-2 and i talked to a lender in two different states and they both said id have to be in mynew career job before getting qualified. i was on my way tobeing qualified before i mentioned that i was thinking about a move.

Post: financing with a career change

Joshua OceanPosted
  • Rental Property Investor
  • Posts 66
  • Votes 21

hi bigger pockets fam!

i like to purchase a rental property. but i will be going into a new career field in an unrelated industry next year so i would not qualify for a conventional loan.....is there any way for me to still purchase a rental?

and if i do qualify for a loan what will happen when i do make that career transition?

thanks so much!

Post: Market spotlight Chicago

Joshua OceanPosted
  • Rental Property Investor
  • Posts 66
  • Votes 21

could someone tell me the pros and cons of residential invetsing in Chicago and also link me up with a lender or agent?

Post: Provider in Baltimore, MD for Owning

Joshua OceanPosted
  • Rental Property Investor
  • Posts 66
  • Votes 21

Hi ive been emailing turnkey providers to see if i could purchase a house to own from them but they want only investors. I am looking to buy and live in Baltimore MD area. Can somebody link me up with a good provider and lender?

Thank so much!

Post: best places to find off market multifamily/apartments

Joshua OceanPosted
  • Rental Property Investor
  • Posts 66
  • Votes 21

im looking for the best places to find off market properties. renonomy, i hear is not that reliable to finding owner contact info and their subscription is not worth the money. My friend and i want to invest in a 16 unit or greater. could you guys give us advice on how to find them, especiallyin florida?

thanks so much in advance everyone es their two cents!

Post: Getting a commercial loan For a multifamily

Joshua OceanPosted
  • Rental Property Investor
  • Posts 66
  • Votes 21

Thanks so much!

Also if anybody else comes to read this thread, ive just found a large part of the answer im looking for on this previous thread.

https://www.biggerpockets.com/forums/49/topics/427207-llc-and-commercial-loan

Post: Getting a commercial loan For a multifamily

Joshua OceanPosted
  • Rental Property Investor
  • Posts 66
  • Votes 21

Hi,

I am a beginner to investing so this might be a dumb question...so bear with me. 

I dont have enough money to put any kind of downpayment through. I just used all of my money from selling my house to pay off about 75% of my debt. But i am getting incredibly impatient, i loath working a 6am-4pm job as a welder working in the hot sun all day to go home to not have much energy left to even be motivated to go through online classes. i want out of the rat race. period. 

i was mulling over the idea of trying to get a commercial loan to get a multi-family....is that a good way to get it? do i have to create an LLC and show profit for something first.....i dont even know where to start. any direction would help, thank you in advance.

Post: Liquid money and also in debt

Joshua OceanPosted
  • Rental Property Investor
  • Posts 66
  • Votes 21

Hi everyone,

I need some advice.

I have about $30K in debt but I will be selling my property and will have about $30k.

Should I pay off my debt or put my money to work?

Thanks so much in advance