(Auctions and foreclosures can also provide great leads.)With $20K, hard money loans are a practical option, as they emphasize a property’s ARV over your financial history.

I am pursuing Fannie Mae’s 5% Down Multifamily Loan.

Again, the $600 interest threshold is per loan, not per person.But this was not my money!

Quote from @MIchael McCUe: Money isn't easy to save and $10,000( my debts) is a ton of money I want to save for a downpayment, I'm just starting so I don't have any money I would like to save $60,000 to buy a rental property, I think I could do it in  5-6 years, my brother filed bankruptcy and they relieved him of $6000 in debt from cash money.a list of my debtGst Hst Tax 4500 income tax from working with my dad I oweScotiabank credit card 1400Canadian Tire credit card 500cash money loan 2400Belair 600echelon 600should I pay the 10k back in the next while or should I file bankruptcy like my brother as It won't be for years until I am able to get a downpayment for a rental house anyway.Here are the negative consequences, in regard to real estate, of filing bankruptcy1.

It has to be your primary residence to be able to use your VA loan.

@Robert EllisAre you leveraging construction-to-permanent loans or private funding?

I am hoping to make connections to learn more about this market, which neighborhoods to focus on, as well as learn some pro tips as I begin my investing journey.To note, I have begun the loan pre-approval process and have a dedicated agent that is eager to find me a great property. 

Last year one of our lenders would not lend to new customers or customers who have never did a commercial loan with them.  

Contrary to most business lending, the REI industry has a lot of "non-bank" lenders that provide attractive loans that can lower your cost of capital and improve your profit/cash flow. 

Investment Info:Single-family residence private money loan investment.