All Forum Posts by: Mitchell Smith

@Darson Grantham

Hey Darson!

Well currently I’m just being told my debt to income ratio is too high due to student loans. I’ve been working with a broker and we keep running into the same problems plus they are more than likely going to want 20% down which I do not currently have. I make a decent income for the area as I run the state of Iowa’s Medicaid housing department so have some knowledge in the area of housing just not much in real estate quit yet.

I would love to learn from everyone on here and bring value to someone’s portfolio. This is all new so just thought I would throw myself out there to the wolves lol.

@Dave Peirce Hi Dave that would be great to meet at the next meeting! I’m basically running into the fact that my student loans are making my debt to income ratio to high. I currently own my house which besides student loans and my mortgage is all the debt I have. I make pretty good money for the area and rent out 2 bedrooms in my current house which helps pay most of my mortgage currently.

I’m just looking for maybe a duplex or Quad to start that already has tenants. Most banks I’ve looked at in the area with my lender want to see 20% down which I don’t have currently.

I’m super motivated to get started just want to make sure I have things lined up. Ideally I’d like to learn from someone with a lot of experience that I can help make money and in turn learn from and gain some more knowledge as I’m just starting.

@Matt DeBoth awesome thank you!

Hi everyone!

I’m extremely new to all of this but have been reading and listening to everything I can get my hands on the past 6 months.

I’m looking at getting my first multi unit deal but am struggling in getting started as I have quit a few student loans attached to my name. I’m in an area that is growing (Des Moines Iowa) with several college campuses and growing developments.

I’ve been assessing deals and looking at several units but I’m having trouble with the financial aspects.

Has anyone delt with this issue or have any experience with student loans and having issues getting started? Any advise would be great.

Thanks everyone!