I am 19 years old, live at home, make 32k a year gross, have little, but decent credit and want to get started in real estate. Where could i get money from? I know a conventional lender wont touch me because of my age, credit and time at my job. I am looking at rehab properties and rental units.
What is hard money lending? How would I obtain a loan of this type?
Thank you,
Ryan
You might want to start with your local REI club.
http://www.reiclub.com/real-estate-clubs.php
You’ll be able to meet other investors who have both cash and experience.
Good Luck!
just because you’re young does not mean lenders will not touch you. If you have steady income in the same line of work for 2 years you should be fine, but some lenders will even accept 1. Alot of lenders will take a private verification of rent that allows for your parents to verify you pay rent. If you have some credit you may be able to swing it. Stay away from hard money, you definitely cannot afford that. email me with any questions you might have and I will try to help.
Few problems here. I live at home, and i have never paid a cent of rent in my life. My is to be able to move into a house or a duplex and never have to pay rent. I have also only been in this line for for for a couple months now.
Ryan