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All Forum Posts by: Ethan Richards

Ethan Richards has started 0 posts and replied 2 times.

Starting Out

Post: LIVE: Biggest obstacle to buying your first investment property?

Ethan RichardsPosted
  • Investor
  • Colorado Springs, CO
  • Posts 6
  • Votes 8
Quote from @Yuval Hala:
Quote from @Bob Stevens:
Quote from @Colby Zeller:

Trouble finding good deals, and also issues with financing deals when I do finally find the good deals.


 Deals are everywhere, I turn down 10 15 a week, its ALL about your network 


Hey, I'm new here.

what is the best platforms you recommend to search for deals for new investors?


 second this request .... Colorado Springs area

0 Votes
Starting Out

Post: LIVE: Biggest obstacle to buying your first investment property?

Ethan RichardsPosted
  • Investor
  • Colorado Springs, CO
  • Posts 6
  • Votes 8
Quote from @Logan Grissom:

As a 19-year-old with very limited capital, are there any FHA loans that would help me get started in real estate investing? I would like to enter in the market later this year or next year when the market is down but with little money, is creative finance my only option?

Also, how do you identify a perfect first property to invest in without over analyzing it?

 @Logan Grissom depends on your market and what reserves you currently have to make a 3.5% down payment. Given that you are young, lenders will likely have trouble lending you large amounts of money (credit needs more time to build.) I suggest looking for a partner / having parents co-sign mortgage with you. Would this be a house hack or primary residence?

Also lenders prefer to see W-2 wages when applying for loans. If you do not have a consistent job (they usually look for 2 yrs consistent occupation) I would suggest getting one.

2 Votes