All Forum Posts by: Mathew Weissman

@Andrew Postell I will definitely keep you in the loop!

@Cheryl Schuck Thank you for your input, it's good to know I can utilize a 203k loan as an option in this area.

@Chris Wood Thank you! I will definitely add that book to my list of books to read. I will take your tip and sit down and review my strengths and weaknesses to use them as tools to become successful. 

You have been a great help in not only motivating me but also giving great advice to use in my RE success! 

@Chris Wood Thank you! I will definitely add that book to my list of books to read. I will take your tip and sit down and review my strengths and weaknesses to use them as tools to become successful. 

You have been a great help in not only motivating me but also giving great advice to use in my RE success! 

@Todd Douglas Thank you!

@Phil B. Welcome Phil! 

I am a newer member to BP community as well, I was provided with a guide to read for new investors and it answered a lot of my questions before having to ask!

https://www.biggerpockets.com/files/user/brandonat...

Good luck with your success in RE investing!

@Todd Douglas Well I live in Morris county, NJ. Currently live in Parsippany which doesn't have many multi families since it has a very large majority of garden apartments. I was looking in West Orange, NJ which has an above average school and right next to Seton Hall University. 

@Chris Wood Thank you for your reply Chris. Yes I agree with you that with a higher earned income I can overcome all the obstacles of real estate financing a lot easier. A partner would be great, unfortunately everyone my age in my area is set out to get a degree and work for a paycheck the rest of their lives..not my plan!  I will finish school and continue to educate myself in the meantime. By the way, do you have any good books to recommend reading? I have read so far "Millionarie Real Estate Investor" by Gary Keller, "Build A Rental Property Empire" by Mark Ferguson, and "Rich Dad Poor Dad" by Robert Kiyosaki

@Pete Perez I have 2 years left in school and then my income increases significantly to $40-$50 hourly. Right now I think owner financing is very risky only because I have another 2 years left and finding amazing deals in my area is not easy. I will probably have to eat the 30k I will lose in the next two years in rent and then start searching. The good news to that is I will have tons of knowledge and a good team established for when I am ready to make my first deal.

Hello BP community-

I am currently looking to buy my first multifamily property to house hack.

Heres a little breakdown of my situation..

I currently make $15 an hour working a part time job while attending college to become a nurse. I have a young daughter who is 5 so I am limited right now for areas to invest in because I would prefer a above average school for her to attend to. Right now I have 30k to invest, I would like to purchase a multi family triplex for no more than $200,0000. My credit score is 748 as of right now. 

I have  feeling that most banks wont approve me for a loan due to my income. I am currently gathering paperwork to send to my bank for pre approval. Lets say I don't get pre approved because of my income. What do you suggest I do?

I have no family support so I am currently renting using money from my inheritance which obviously is just wasting away. I am trying to invest it ASAP into property before I graduate school. 

Thank you.