All Forum Posts by: Logan Ward

Hey everyone,

I’m looking for someone in the Ames / Des Moines Iowa area who does 203k / Homestyle Loans to maybe sit down and answer a few questions for me. I’m looking for someone who does this style of loan in specific. Any references or tips would be appreciated.

Currently going through the purchase process for my first property. The buyer accepted my offer and now all the paperwork begins. Hoping to close in early January on a side by side duplex (2) 1/1’s that will have 1 side leased out until 2022. I will live in the other side. Exciting stuff! Since this is the beginning of the journey, I am curious about a few things. I just want to know what are some things that everyone here had to deal with and learn from their first property? I want to know, what is something everyone wish they knew before having to learn it first hand?

Thanks for any feedback

Hello all,

My name is Logan Ward. I am 21 years old in the Ames, Iowa area. I’m just beginning my journey of real estate. I guess you could say I got bit by the real estate bug after reading rich dad poor dad. After really finding an interest in learning about real estate and investing in it, I was led to BP. I starting reading books heavily and listening to podcasts any chance I could. That brings me to this point on my path of getting my foot in the door. In order to get started, I think my first step is getting pre-approved. That leads me to my question for everyone.

Can you get pre-approved if you have not quite worked at your job for 2 full years yet?

I have worked there for a year and a half. So late spring of 2021 would be my 2 year mark. I also have the ability to switch to salary if that may make a difference.

Thanks for any feedback.

@Bryce Stclair love hearing that man. Congrats

What is the best way to find lenders that understand real estate investing? I'd like to purchase my first house hack to begin my investing journey but the lenders I have talked with so far do not support the type of loans I've tried discussing with them. I want the low down payment style loan such as an FHA or a Home Possible loan. I don't want to start shopping around before I become pre approved and without a understanding lender I'm unable to begin anything. Any recommendations? I'm located in Iowa to specify a location.

Thanks!

Looking for ways to get approved for a low down payment loan such as an FHA while being a 20 year old freshly out of college with a lack in job history. Currently am working and have a 700+ credit score. Looking for financing to purchase a SF home or multi unit to house hack near a college campus. Have roommates/tenants lined up for the following year. Struggling to find a lender that wants to approve for an FHA style loan.