Best way to get a loan

7 Replies

Hi my name is Ryan Clark out of Tampa Florida, I want to start my real estate investment journey, and need some advise on the best way to get a loan for my first property .

Try applying at a credit union. they offer low interest rates and their policies are also quite flexible. 

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@Ryan Clark  Like your drive, but 1st you have to grow up. No one will give you a loan at 16 and no full time income. Keep working hard, save money.

Upen Patel, Mortgage Banker

National Lender, Federal NMLS# 1374243

@Ryan Clark

Are you buying the property with personal funds or are you purchasing the property through an IRA or a 401k?

Call then go see a small local bank or credit union, ask for the commercial loans dept.  I would let them tell me where I'm at and what I need to do to be loan worthy.  You don't necessarily need to do whatever they say but it would be informative and costs you nothing.  Get out of your comfort zone and expose yourself... to rejection.

@Ryan Clark

Do you have anyone else that could help you get started such as parents? You'll be pretty limited with financing options based on your age. The good news about that is you're potentially getting such a great head start. I know a lot of people would love to have found Bigger Pockets with an eye for investing at just 16!

Best wishes to you.

Ryan, you are going to need a cosigner to help you.  It won't happen without it.

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