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All Forum Posts by: Ryan Sanford

Ryan Sanford has started 2 posts and replied 3 times.

Post: Getting Started on the Right Foot

Ryan SanfordPosted
  • New to Real Estate
  • Denton, TX
  • Posts 4
  • Votes 2

Good morning, fellow real estate enthusiasts. I'm currently in a rut, and would greatly appreciate any quick insight as to how to move forward: I'm a 21 year old student and D2D salesman during the summer months, and am projected to make six figures this coming summer leading a team in Chicago. In the fall, I plan to move to Provo, Utah to finish online school and begin my real estate investing journey. I am unable to qualify for any conventional loan until the Spring of 2022, as that is when I will have two years of tax returns with my 1099 income. My primary objective is buy-and-hold investing, with a specific interest in smaller multifamily properties. I've looked into creative financing such as HML or owner-financing, but in this seller's market, the sellers are really thirsty for cash offers, which they usually have no problem finding. How can someone like myself, with enthusiasm and a large network, set myself up best for when I can start buying properties next Spring? I am particularly interested in the apprenticeship model, or just helping people do their deals/run their business and getting inside experience prior to starting on my own. I would also be interested in getting involved with flipping properties to get my feet wet until I can really start to build a portfolio. Let me know your thoughts!

Post: Financing for an Independent Contractor

Ryan SanfordPosted
  • New to Real Estate
  • Denton, TX
  • Posts 4
  • Votes 2

@Jonathan Styer and @Michael Kinsella thank you both for your suggestions! I will begin cold calling lenders, and converse with some HMLs as well. I'm looking for a solid cash-flowing duplex, but a smaller SFH will suffice for a first property as well.

Post: Financing for an Independent Contractor

Ryan SanfordPosted
  • New to Real Estate
  • Denton, TX
  • Posts 4
  • Votes 2

Greetings all. I have a quick question about financing for my very first property: I'm wondering how hard it will be to find a local bank to approve me for a loan to purchase my first property. I made $36,000 last summer working as a door to door salesman, and the income is still flowing in on a bi-weekly basis. I have a relatively short credit history, with a score around 720, and I have an emergency fund of $8,000. No student debt or car payments.

If you are a hard money lender in the DFW area, I would love to network as well! I have a goal to purchase my first property before the end of February, so I fully intend to make it a reality. Any suggestions would be greatly appreciated.

Cheers!