All Forum Posts by: Mohammad Haidarasl

I have quite a huge student loan debt, which is the only type of debt I have. I would like to get into REI immediately but like to know the smartest move to make.

 Jason, thank you so much for your reply. In all actuality, that is a wonderful question that I myself do not know the answer to. I am going to research and get back to you on it shortly. 

 Thank you for your reply Alina! Yes, I definitely will continue wholesaling. I was never lucky enough to secure a deal, but I feel as though if I got a few under my belt it would build my confidence. I assume this and seller financing is my only two ways into deals in RE.

 Thank you so much Karen. This has really restored my faith in that I may be able to continue in my Real Estate journey. Do you recommend any source to continue researching into seller financing?

 Definitely going to look into this. Thank you!

You're right Matt, thank you for your reply. I guess if I can find a decent multifamily home and purchase it with cash, I'll try using that way as an entry into the rental property realm.

Thank you David. You're correct, any which way I look at it, I see it as a very challenging road. Nevertheless, I'll bust my brain for a few more weeks to see what I can come up with, if anything.

Thank you for your reply Christine. I definitely have to check this out. It sounds like a good way to stick with RE.

I was a heavy user of the site about a year and a half ago. I never really secured any deals while I was trying to wholesale. However, I have wondered about something and I'd really like your input. My main interests in RE are in wholesaling and rental properties. I'm less interested in flipping, etc. With that said, I'm not a rich fellow and don't have a huge savings. I'm Muslim; my religion prohibits dealing with interest; either directly or indirectly. I cannot touch interest by a bank, person, etc. Is there still a way to do this or should I just forget about it? My goal in the future is to own several multifamily properties and rent them out to tenants. Considering that I cannot use a loan other than a 0% interest one; which I'm assuming doesn't even exist, is there any way to still accomplish my goal? 

Thanks.

Would it be a bad idea to get your first rental property without an FHA and just put a 10 or 20% down payment? I really like the idea of 3.5% but wouldn't want to be living there myself for a year. I just don't know the smartest route people take? Assume I had the choice to decide.