21 and want to get into the community

21 and want to get into the community

Member since 2024 · 4 posts · 0 votes

Hello everyone,

My names Tom and I am currently a senior in college. I've been doing a moderate level of research around the housing industry and I am very excited and eager to jump in. I work part time currently and make around $1k a month, but I also have a good amount saved up (around $50k). I've been teetering around the idea of house hacking once I am done with college, but a big issue I have come across when speaking to a mortgage broker is the fact that I need to prove 2x of the mortgage in monthly income. Is there any way around this? Is there a different avenue I should take to owning my first house? My goal is to own my first house before I turn 22. I have good connections in the industry, and have a close relative who is a real-estate agent in the area. Any information would be appreciate, I can't wait to become a part of this community!

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Drew SygitBusiness Member
Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
1y

@Tomas Falcon highly recommend you chat with @Samuel Eddinger

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  • Meriden, CT · Member since 2018 · 698 posts · 500 votes
    1y

    Welcome @Tomas Falcon.  I'm an investor and property management company owner in central CT.  I'd recommend joining local meetups.  There are a bunch of great investors who are more than happy to share and network (including myself).  If interested in having a phone call, DM me.

  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    1y

    @Tomas Falcon highly recommend you chat with @Samuel Eddinger

  • Nick BelskyBusiness Member
    Residential and Commercial Broker · Member since 2021 · 1k+ posts · 704 votes
    1y

    @Tomas Falcon

    Welcome to the community and be ready for a huge amount of information at your finger tips. Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights. Great tools that get updated regularly.

    I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.

    We are all here to help you learn and grow. Feel free to ask anything, anytime.

    Cheers!

    Belsky Mortgage, LLC526 Reviews
  • Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
    1y

    When you graduate will your income jump up? 1K monthly is not great. Well done on 50K saved up.  I would focus on getting a solid job/career then going into a house hack. 

  • Member since 2024 · 4 posts · 0 votes
    1y
    Quote from @Nick Belsky:

    @Tomas Falcon

    Welcome to the community and be ready for a huge amount of information at your finger tips. Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights. Great tools that get updated regularly.

    I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.

    We are all here to help you learn and grow. Feel free to ask anything, anytime.

    Cheers!


     Thank you for your reply Nick! I would love to chat with you, let me get some questions down and I'll be sure to shoot you over a DM. Thanks

  • Member since 2024 · 4 posts · 0 votes
    1y
    Quote from @Caleb Brown:

    When you graduate will your income jump up? 1K monthly is not great. Well done on 50K saved up.  I would focus on getting a solid job/career then going into a house hack. 


     I plan on my income jumping a fairly good amount, especially since I will transfer to working a full time position. The issue is, I'm not sure if my income will be enough to cover 2x the monthly mortgage payment that most loans require. I live in a costly area, and this is the main stoppage point of getting me to just jump in.

  • Lender · Newark, NJ · Member since 2016 · 695 posts · 252 votes
    1y

    once you graduate would your income go up? you would need more income if you want to house hack. would love to help, i house hacked a few times before

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