All Forum Posts by: Michelle Paulsen

I am moving to Austin, Texas in about a month. I am looking to get my first property. Ideally, I was planning to buy a multi-family out in Austin, but they are slim to come by in my price range. Since house hacking and owning multi-families are my goal, do I settle on a single family house and wait a year to be able to rent it out? Does anyone have opinions on the Austin market? Or should I invest out of state and put a 15% down on a property? I am trying to weigh out my decisions, but all I know is I want property by this spring. 

Thank you all in advance! 

How can I get a place with 0% down? I am looking to get my first property and I want to put as little down as possible. I know I can do as low as 3.5% but how do you negotiate to 0%? I would love to hear stories of everyone who was able to do this!

I love my current job but my current job is a contract position aka “temp”. I have talked to several lenders and they deny me loans because I have a contract position job. I make really good money at my job and contracted out for a year with probable extension. I have great credit and a good amount of cash saved up (but would prefer not to put 20% down). My question is do I try to find a different full time job or wait out the 2 years needed in a temp position?

Has anyone been in this situation before? What to do? Owning multifamily properties has been my goal for a long time and I am ready to start my investing, but in a dilemma.

Comments are appreciated! Thank you!

@Jordan Murrell Hi, I appreciated the information, I will definitely keep checking different banks, lenders and credit unions!

@Teagan Brown it’s a w2 job!

@David Robinson I will check into the credit union! And how would I set up an LLC? Is that a long process? I would love to chat with you about that option. I found some investors that would help me out with a 20% down payment

@Brett McManus Thank you I appreciate the advice! Not giving up hope yet, I need to figure out a way!

@Anthony Thompson thank you for the advice! Makes sense, I’m going to figure it out somehow!

@David Robinson I can add a co-borrower, but my issue is the 20% down. I got accepted on a 5% down conventional loan and that fits perfectly with my financials. I could not afford a 20% down payment. Is there a different way?