Updated almost 8 years ago on . Most recent reply
Student trying to do Real Estate
Hi i'm currently a student at University, i'm fairly new and i was hoping someone could point me in the right direction.
I would like to start investing in like a multi-family apartment but is this even possible given my situation as i don't have a "stable source of income/verified employment" i saw things like no doc mortgages, co-signing on a mortage etc. and things like that but is there another way to go around investing given my situation?
Money isn't a huge issue for me at the moment i have around a 50k bankroll (idk if that is too little to start investing?), most of it is acquired through poker and i do make 5k per month (on avg because you can have like a 10k month but then next month be down like -1k like trading etc.) but it's not considered a real job i have the bank statements to prove to a lender but other then that i'm not sure what direction i should go any advice and posts are appreciated thanks!
Most Popular Reply
#2 Starting Out Contributor
- Realtor
- Hanover Twp, PA
$50k is certainly enough to start.
Did you want to life in one of the units? If so, that would be a "house hacking" type of investment. You can search on that for information. If you are claiming your income on your tax returns, that should be enough to document your income.
If you're not going to occupy a unit in the property, I suggest talking to local/community banks. They do lending on investment properties that larger lenders don't do.