All Forum Posts by: Timothy Yang

 I'm not against house hacking, it's just that I was wondering if there was a better option as my family is already willing to invest with me(father is willing to pay 25% for the down payment). I know with a house hack it would cost less upfront to start but will guarantee a negative cashflow the first year. It will have a slightly lower interest rate than a investment property, but does that lower interest rate overshadow the negative cashflow the first year plus with a investment I could potentially get immediate cashflow within the first year unlike house hacking.

So I've been looking to purchase a rental since the beginning of this year, but I've run into a couple obstacles. At first I wanted to purchase a duplex as my first investment and was willing to house hack and rent out the other unit. When I first went to get preapproved, I was approved for a lower amount than I wanted in a duplex. So I spoke to my family about my plans and they were interested in investing with me. My father would help with our down payment and my sister would cosign with me. However after talking to my lender, he said that we would not be able to use my fathers "gift" to purchase an investment property. My question then is should I cosign with my father who has a lower credit score than my sister or should I look for something cheaper like a single family and do a brrrr strategy/flip it? 

 I have been listening to a couple podcast about real estate investing. I do want to go to a couple seminars, but most of them conflict with my working hours for my job. Are online webinars as good as in person meeting? 

 Hey Jack, 

Could you clarify what you mean. If I’m interpreting what you are saying correctly than I don’t mind living in one unit and renting the rest. 

 I just started my new job a couple months ago so that might be a problem for me as I don’t have 2 years worth of income history. Is there another way around the requirement?

Thanks for the advice. I do have some saving and assets I could liquidate, but I prefer that as a last resort. I recently talked to a colleague who is a banker and we were chatting about my interest with real estate. He mentioned to me that I should liquidate most of my assets so that I could qualify for loans such as FHA and similar types since those are more for lower income earners. Is this a correct path to take since they might see that I have savings and assets that could potential disqualify me for such loans?

I just recently graduated and am looking to start investing in real estate. I have almost no capital to start, but have a steady income from my day job. I have been researching on how to start the process of investing and I've talked to a few people who are more knowledgeable than me in real estate. From what I have learned from both the internet and colleagues is that the finances are the hardest part of getting started. So how should someone like me with almost no capital and no networks finance a rental property without help from a real estate investor. I know there are a couple loans/programs like an FHA loan that are available to starters like me, but are there more options?