Hey BP Community....Im Seeking Some Advice

3 Replies

Hey My Name is Christopher I've Always Loved RE Its My Dream Job And I Want to prepare and lear as much as i can do before starting out Im A Truck Driver From Lehigh Valley ,PA Area...Im Home every day And my salary is avg 60k yr my startimg Goal And Purpose is to buy and hold Rentals....Give Me Some Advice...BTW Im A $1000 Credit Card Away From getting about 633 Credit Score....yeah....it took me 2 years

@Christopher Leon continue working on your credit score to get above 700. Also start with a small project maybe even a duplex where you live in 1/2 and rent the other side to gain experience and to minimize any risk. Start talking with lenders now to get yourself pre approved and have them do an estimated cost sheet for you with different down payment scenarios. 

Hey Christopher, congrats on getting the score up!  My advice is that, I would buy a house that you plan to rent out, stay there for a year, move to another house and rent the old house out.  You can do this a lot easier, with a lower credit score requirement, a lower interest rate and less money down vs going for an investment loan with a higher credit score requirement, a higher interest rate, and 25%-30% down.. Good luck!

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