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Unique opportunity money questions(20 year old)
Expired
Thread created 03-04-2012 by Darkmafia069
+1 Score 7 Replies 1,793 Views
Post #48196516 added 03-04-2012 9:50 AM by Darkmafia069 in Archived Deals
So Im a single 20 year old going to a local community college and working part time on the side. Ive lived with my mother in apartments almost our whole lives and being that she only makes 27k wasnt...
Unique opportunity money questions(20 year old)
Expired
Thread created 03-04-2012 by Darkmafia069
+1 Score 7 Replies 1,793 Views
Post #48197832 added 03-04-2012 11:05 AM by travathian in Archived Deals
If you aren't able to rent a single unit out, will you still be able to cover the mortgage? This is the biggest thing you need to account for. You can't go to a bank and say you want a mortgage, and...
Unique opportunity money questions(20 year old)
Expired
Thread created 03-04-2012 by Darkmafia069
+1 Score 7 Replies 1,793 Views
Post #48215870 added 03-05-2012 7:20 AM by saladdin in Archived Deals
Moving too fast. 1. Never, ever take money from family for investments. You do not want to lose your mom's life savings. 2. I seriously doubt you can qualify any way. 3. Pay your own cell/car...
Unique opportunity money questions(20 year old)
Expired
Thread created 03-04-2012 by Darkmafia069
+1 Score 7 Replies 1,793 Views
Post #48216908 added 03-05-2012 7:59 AM by Thelonewolf1031 in Archived Deals
One other factor you would have to consider is the people you are renting to. In Albany due to the high concentration of college students in the area, you are essentially forcing yourself to become a...
Unique opportunity money questions(20 year old)
Expired
Thread created 03-04-2012 by Darkmafia069
+1 Score 7 Replies 1,793 Views
Post #48339700 added 03-09-2012 1:19 PM by mwa423 in Archived Deals
Good on you for being smart and looking for a way to pull you and your family up by your bootstraps and make some money for yourself in an entrepreneurial way. That being said, take the idea,...
Unique opportunity money questions(20 year old)
Expired
Thread created 03-04-2012 by Darkmafia069
+1 Score 7 Replies 1,793 Views
Post #48197034 added 03-04-2012 10:21 AM by dealgate in Archived Deals
First get pre-qualified. This will give you the amount you will be able to borrow on your own. It is not approval though. With your income situation, you may have a hard time getting financing. At...
Unique opportunity money questions(20 year old)
Expired
Thread created 03-04-2012 by Darkmafia069
+1 Score 7 Replies 1,793 Views
Post #48210730 added 03-04-2012 11:30 PM by Brian1 in Archived Deals
I would consider taking things a bit slower. If your mother had more savings and more disposable income, then I'd say it's OK to consider an investment property. But, to take on an investment...
Unique opportunity money questions(20 year old)
Expired
Thread created 03-04-2012 by Darkmafia069
+1 Score 7 Replies 1,793 Views
Post #48222890 added 03-05-2012 11:33 AM by throwaySD in Archived Deals
Lots of good advice in this thread. If I had to make one suggestion to you based on the most realistic "what if's" it would be very simple: don't do it. First worry about finishing school and...

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