Help!!!! (Urgent) Creative Financing

7 Replies

Hello everyone I hope all of you are having a wonderful Sunday. Just a lil about myself, I am a recent graduate (October 2017), live in New York City but move from Massachusetts where I go to school to SoCal California to live with a friend that currently goes to school in Los Angeles.

Anyways my issue is after I move to California I started to work in December as a data center technician contractor in Irvine, the job lasted for 3 months since it was a 3 month contract, I've been researching about real estate since I started the job then decided that I wanted to invest in it.

I devoted all my time and effort since March into real estate to learn and network, went to one meetup in Irvine, met the guy that hosted the meetup (Great Guy!) schedule to have lunch with him and he told me I should start off wholesaling and bring him deals since then I’ve been driving for dollars while using property radar unfortunately things haven’t been getting any better for me and my emergency saving is running out so my back is against the wall since my my rent with my roommate comes up to 2k monthly.

This comes down to me considering to go for an FHA loan to get a 3-4unit MF home, live in one unit while renting out the others, my issue for this is that I don't have any proof of income and I was working for my school but all I got was cash in hand (Cheque) so I have nothing to show for that.

Unfortunately unlike other people I don’t have anyone to co-sign for me for any of these investment opportunities I could take and my father lives in New York City, he doesn’t like the idea of me getting a property, he just thinks I should get an IT job and pay rent that’s what I went to school for all these years but it hasn’t been easy getting a job so now I’m taking into account that I could Uber and I can make atleast 300-400 a weekend but I plan to do it everyday to get extra cash in, I’m so hungry to become successful I won’t ever give up, instead of saying I can’t do it, I’m just trying to find ways to do it, like most successful people and I know it isn’t going to be easy and I’m living way below my means, my favorite meal is pack ramen now cause it’s the cheapest haha.

Anyways my question is in my current situation what would you advice me to do to be able to achieving owning a MF property to do the house hack with FHA loan, can Ubering be use to qualify for me for the FHA loan?

Also remember I’ve been paying 2k monthly with my roommates since October.

All advice is much appreciated, just please be respectful, I’m young and I’m trying my best to do good so everyone can be proud of me.

Hi Jordan,

I think your goals are great, but it's a pretty tough market in CA right now to count on deals coming quickly enough to pay rent. Even when markets weren't as tight, like when I started, it was 6 months until my first pay day, and about a year before I had enough deal flow to have reliable income.

I'm surprised you are having a hard time finding IT work in CA right now. I suspect you are letting yourself get sidetracked with investing and aren't looking that hard. I'd follow your father's advice and focus on that until you have something steady, that pays the rent, locked down. Having that base will make pursuing your goals in real estate way easier.

You can certainly use Uber to fill the gap while you are looking for the IT job and as a great way to continue driving for dollars (between rides), and getting to know the market. That said, I think you'll find lenders are going to far prefer the IT job as your base, especially with your goal to buy a triplex or quad and live in one of the units.

Patience will take you far.


I think in most salaried cases even, you'd need a minimum of 2 years job history to qualify that income. Not even sure how uber would work. You might be able to deduct some of the rent from the DTI if you find the right lender.

I'd also find a stable job to keep you afloat first and worry about the real estate after.

@Sean OToole I truly appreciate you taking the time out to reply to me, I was a bit down when I didn't see anyone replying and I was checking the post like every 15 mins for about 2 hours and a half. The jobs I got called for is either either System Administrator or Desktop support that needs someone that has 3-4 years of actually job experience which I don't have, I have a collected of 4 and half years of experience including time I spent in school, the other experience is internships and that's why its been hard.
I have been sidetracked with investing because I thought I'm not getting any younger so I should try and put in the reps from now while having a positive mindset and instead of saying I can't do it but instead find creative ways to do it.
The thing for me is I'm spending so much for rent and I have the rent money every month, shouldn't there be a way to use my rent money to pay mortgage instead of paying for a home every month that I can't own or at least able to qualify for a loan with the rent in account with Ubering and house hacking, just some thoughts running through my mind that would be nice if someone can elaborate on it. All I have is my ambition to drive me, that's all.
Thank you a lot Sir, I will definitely take everything you said and implement it.

@David Zheng Thank you for your input, I know real estate is not easy or everybody would be doing it and I'm not giving up but still people make it seems like it way too easy to get into it cause I'm trying everything I can to get into it but everything I try to figure out has a wall that says you need a work history in order to get loan etc.

@Jordan Lewis

Hello my friend! You are awesome! What a positive attitude you have! You WILL be successful in real estate because you are asking all the right questions. I don't have a pro membership so I need to be careful with my advice but I have a few things that might be encouraging. First, if you can find a less expensive room to rent for the immediate that might be a good start. Second, go to and read what they have to offer. Their main office near LA would be Hawthorne. Uber definitely counts as income but the other poster was right, you'd need to show 2 years in the same line of work for a loan. If you are willing to look at the BIG picture and wait for 2 more years to show consistency then you could take advantage of the FHA or NACA loan and yes you can use part of the rents you'd be receiving from the MF to add to what you qualify for your max piti 😊. That's exactly what we did. Then you will have some skin in the game to purchase your next rental property etc!! I'm excited for what you decide to do. Keep us posted. Good luck 👍

@Nicole Candelario thank you very much for the advice, I have a partner that was working for this company name bright prospect, they basically help students with college but he quit like a month and like 2 weeks ago, give or take but now he’s running Uber and now dedicating his time to real estate.

If I co-sign with him on a quad MF property and he live in one unit and I live in one and we rented out the other 2, even if we don’t make Cashflow but cut even then that’s fine cause every other income we get would help towards our Real Estate endeavors, do you think an idea like that would qualify us for an FHA loan.

I’m currently putting in all my time to look for a full time or part time IT job to help me qualify for a loan while doing uber at the same time.

I also plan on calling community banks etc to see how we could qualify for a loan or how they would advice us to move forward with the aim of achieving a MF property.

Thanks for the kind words and yes I won’t give up on this at all, never the type to give up anyways.

Hi Jordan,

I commend you for your efforts. Never give up no matter how hard it is. But you also have to play smart. I agree with the other posters, secure a job right now because it will help you qualify for a loan. I didn’t realize how hard it is to get a loan post bubble burst until I actually went through the process. It is a rude awakening but one that will make you smarter.

If you like real estate that much, why not consider getting your license? It doesn’t take much, just take some classes and study for the test and pass it. You’ll have much more options as a real estate agent and more insight. You can network with agents and lenders and build a relationship with them. I mean you can do all that without a license but if you want to commit to RE, getting your license could be a good start while you Uber (and if you haven’t found an IT job).

Have you looked in DTLA? I know that the IT guy comes to our offices every week because there is always something that is not working right. And he’s a third party contractor working for a bigger company.

Good luck!

@Wei Cho Thanks a lot!! yeah I have to play smart and that's why I'm on here here seeking advising, 2 head is better than 1. I have consider getting my license but I also saw that a lot of investors do great without getting their license, so I'll have to research the pros and cons of getting a license or not.

So my goal right now is to focus on getting a full time job and also see if I can make someone co-sign for me on the FHA loan. No I haven't look into DTLA but I will right after I post this out, thanks for all the wise advises and I'm learning alot, what was your experiences getting a loan, if you are okay with sharing it with me would be greatly appreciated or if you don't want to post it here then you can PM.