Updated about 4 years ago on . Most recent reply
Loan Variables and Investing
Hey Bigger Pocketeers! Aspiring real estate investor here hoping to have a couple questions answered. I'm in my early 20's with a fairly good credit score looking to buy a duplex that's about 150k! Only problem is I have 0 aspiration to go to college and can't find any better paying jobs near me unless its warehouse work(not preferable whatsoever). Anyways my question is I always hear people talk about low/no money down loans or often hear the term "bought this with no cash out of pocket" how would one go about utilizing this process? I have a bit saved up but it seems so intimidating looking at the down payment and closing costs, all to have a property that still might need 20k on rehab. I can only put so much money away and to have a 20% down payment with left over cash for rehab and everything else buying a property would entail, I feel like it would take me 5-7 years just to get started and that is not ideal.