All Forum Posts by: James Sullivan

I’ve been listening to the Bigger Pockets Real Estate podcast for about a year now. I listen to each episode as soon as it releases, and I still want more! What are some of the best episodes to go back and listen to? Does anyone have any favorites they’ve put on multiple times?

I'm a college senior taking a fraud seminar class, and our final assignment is to write a research paper on a fraud topic of our choosing. Being interested in real estate, I chose housing and mortgage fraud. I've been conducting a lot of research, and I've learned a lot about the various types of fraud related to the industry.

In an effort to improve my paper and make it more interesting, I want to know if any BP members would be willing to share any stories of fraud instances they've encountered throughout their investment journey. I think a lot can be gleamed from real world examples, and it will be valuable to learn from other's experiences. Please comment with anything you would be willing to share to help out a college student and the rest of the BP community. 

Thanks!

@Leonel Hiraldo Ramos

That’s awesome man! I’ll for sure be in touch at some point. Thanks for reaching out!

Hello,

I currently attend Millersville University in Lancaster, Pennsylvania. I'm graduating in May 2021 with a bachelor's degree in Accounting. I'm planning on purchasing a home around Millersville and house hacking by renting out the rooms to my college buddies once I graduate. I'm seeking advice on how I should structure my debt over the next several months to ensure I'm approved for the highest mortgage amount possible. 

I currently have just under $4,000 of unpaid principal remaining on my car loan. I've been blessed to receive a basketball scholarship my four years at Millersville, so I don't have any student loan debt. I'm taking out a Federal Direct Subsidized loan this semester in the amount of $2,750 with the intent of paying off principal on my car loan because the interest rate is significantly better. I'm expecting by the time I'm applying for a mortgage, I'll have a job offer at a public accounting firm with an annual salary of around $60,000. 

My uncertainty about my situation lies in whether or not I should prioritize paying off all my debt before applying for a mortgage. Would a lender prefer to see that I paid off all my debt quickly and have no other debt when requesting a mortgage, or would they prefer to see I have a sizable cash reserve to use for a down payment with a little debt remaining on my credit report?

Any advice on my situation would be greatly appreciated, and I look forward to being apart of the Bigger Pockets community!