All Forum Posts by: Kyle Inbody

Thank you Jeff, 

Yes indeed I have been a full time student for over 3 years.  That was one of my biggest concerns but ill seek out more information from lenders and put togher a plan.  

Hello Everybody,

Let me start with I know I need to seek professional advice and I know any comments made here are just the opinion of others, but in this community I value the input of

others greatly.

So myself and my fiancé have been discussing house hacking and building a real estate career for over a year now. I am in my final Semester of college and my internship will come to an end Oct. 1st then we will move back to the place we want to live an build our lives. All goes according to plan my fiancé will have a real estate license by the end of October and I will start my next full time job on Oct, 8th.

I am concerned about my eligibility to obtain a loan and would like to know if anybody has advice on how they would go about tweaking numbers by paying down debt and lowering the down payment to lower the Debt to income ratio to get approved or if they think I sound like I’m in a sound position.

I have about $14,000 in cash, and a car valued at $7,500 as an asset. I have 1 student loan at $7,500 and owe $3,500 on the car. My credit card only charges my Netflix and is paid off in full to maintain 3 lines of credit. My FICO score is 762. Each month the 2 of us have at least 1,500-2,500 excess cash. We could build a bigger down payment / pay down more debt by living with our parents longer but I’m afraid that I may have to use my Full time student status to fulfill the “work” history and I graduate in December.

We would like this to be only in my name so she can use a first time home buyer program in the future and her credit score is a 645. She also adds $6,000 to the debit equation and not much income.

I was thinking about a $10,000 down payment and closing cost which would be above the 3.75% if I was approved for a first time home buyer. Most multi families that have the best returns (only considering anything that will cash flow $100+ positive/month on a 15 year fixed rate while still living in1 unit after all expenses ) are anywhere for 80,000 to 180,000.

My biggest concern is I have had 3 jobs in the last year not making a whole lot (about 20,000-30,000) and with the upcoming job changes I don't think the bank will like that. I already have a job lined up that starts around $35,000 / year and plan on incorporating an LLC and reporting income from side hustles I run through it, hopefully another 10,000 plus but that not until next year after graduation.

So in the banks eyes I have….

Credit score: apx 760

Income: apx 25,000

Debit: 11,000

No steady work history, (unless some lenders consider my full time student ship)

Thank you for any advice!

Hi Everybody,

My name is Kyle Inbody and I live in Findlay Ohio.  I  am 21 years old and all set to graduate from Bowling Green State University with my Bachelors in Aviation Management this December.   Like so many other graduates, I am unsure if I will utilize my degree in my field of study, with my focus being on building a career in my Hometown/County as there are not a great number of aviation related jobs. 

Real-estate has always intrigued me, but recently I became aware of the growing Drone Industry, and began to explore how my Drone Licence and background could be utilized in this industry.   With the encouragement of Dave Ramsey and Bigger Pockets I now think I want to shift my focus on developing skills and working with real estate in Northwest Ohio south of Toledo.

When this semester ends (the end of April) I will be taking classes entirely online allowing me time to jump into the business by working for agents, helping investors, or in any other way I can to learn as much as possible.   I also plan on purchasing a multi unit within the year and house-hack my first home to supplement my income and hopefully lead to a larger portfolio while still in my 20s. 

Listing to the Bigger Pockets podcast, and reading through the forums / post on this community has really motivated me to learn all I can and begin networking.  I am ready to dive on in and help any local investor or agent in any way that I can, and also appreciate any helpful tips or advice in begin a career in real-estate and investing from this awesome community.  

Looking forward to my time on Bigger Pockets