All Forum Posts by: Mack Bailey

@Andrew Postell my income is very low which is why that was my pre qual. That being said I have talked to other lenders who gave me much better pre quals

@Jamie Labrec I will get on that this week. Thank you

@Lauren Juarez I have not given it a single thought. I have heard nothing but discouragement

I have been approved for a 100,000 dollar fha loan. My plan is to buy and househack a duplex. In my area I would need a minimum of 200,000 dollars for such a property. What are some other approaches for finding financing for this deal?

I am currently watching craigslist for a possible owner financed deal. Any tips?

@Michael Jackman that's a good thought

@Nate Monson thank you! I have a very "add value" focused mind so flipping is definitely something I want to do. When I want to do it because my risk tolerance is so low is when I cam afford to have the property myself so it can be more of a passion/side project if all else fails.

@Hans M. Absolutely! Doing what you love and a positive attitude definitely go a long way

@Uchenna Egwuonwu this is inspiring. Congratulations! I'll definitely keep this in mind when I'm looking for a property

@Sam L. The way I see it I can: 1. Suffer for my whole life at a job i dont like 2. Suffer for now and reap the benefits later

3. Build my passive income slowly while I do what I enjoy

That's a no brainer for me. Of course everybody is different with differing priorities and risk tolerances

@Christian Becker I understand this mindset and the numbers that back it but I really do love my job. I work 35 hours a week at 14 an hour. I dont get paid time off so I averaged it out to 30 hours. I have feelers out for new side projects to increase savings but that is my structured income. I am making this work and am really very positive about my future outlook.