What do I need to get started? A Cosigner/Funder ?
Hey, Biggerpocket members! I'm new to the community and even newer to Real Estate Investing. I took my first steps December 9, 2015 when I decided to walk into a local realtor and ask questions. They were helpful and explained everything very well and in a simple manner. I told them my plan about taking out an FHA loan and buying a duplex to establish a passive monthly income. Everything seemed to be going great until we got to the actual loan part. I don't qualify.
I have good credit (706), I have a steady part-time job making steady income, and apart from my car, the only bills I'm paying for is credit card bills.
The reason I don't qualify is because I haven't held my part-time job long enough. Now either I could find a full-time position and save up funds from there, or I could find a cosigner to help me qualify for the loans (still needing to pay for 3.5% down and figure out closing cost).
I'm 19 and I'm doing what I can to get started as soon as I can. Investing has always been a dream of mine. How can I make this a reality?
Ask any questions, I will answer