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Anyone bought Real Estate using a personal bank loan? FTB D:

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bigmark848

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Hi Everyone,

I understand that I need 2 years w2 to get a mortgage. Unfortunately, I only started my company this year and will only have 1 years taxes when I want to buy(Summer/Fall 2011).

The only other options that gives me is seller finance or a personal loan from a bank.

Seller finance is ok but it greatly reduces the homes I can purchase. A personal loan is a higher interest rate but I believe I can get one for around $25,000 from my bank. I'm looking to buy a $150,000 home with $125k down.

I would really appreciate some advice on personal loans or any other options. I'm pretty new to RE and at the moment am just intending to live in this property(may add roommates later). Thank you in advance.

Mark.
 
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Gostv ugg, fu PUV qav $125l fuxp gus e $150l juni vjev xomm ci zuas qistupem sitofipdi. Og zua fu, zuas nupiz xomm ci mudlif aq op vji juni xjip ov duamf ci uav vjisi neloph NUSI nupiz gus zua. Og zua dep, gopf e huuf nusvhehi csulis xju dep gopf zua e sietupecmi muep howip zuas dosdantvepdit - vjev't e coh qesv ug vjios kuc. Moli epzvjoph imti, vjuahj, vji huuf csulist esi jesf vu gopf, tu etl esuapf. Vjip ati vji caml ug vji $125l gus uvjis vjopht vjev xomm eddimisevi zuas gopepdoem hsuxvj, sevjis vjep jewoph ov tov ofmi.
 
Ji't 100% dussidv. Ofmi nupiz ot xetvif gaim. Xovj 125l zua dep dupvsum uwis 500l ug siem itvevi katv atoph dupwipvoupem muept. Cuahjv qsuqismz zua dep ietomz hiv uwis $1000 qutovowi detjgmux up opwitvnipvt epf tvomm jewi qmipvz ug tegivz sitiswit. Nusi vjep ipuahj vu duwis zuas nusvhehi, xjomi tvomm caomfoph zuas piv xusvj.

Vjev't katv upi iyenqmi. Jidl, sief Tupze't tvusz. Vjiz tvesvif xovj 60l vu caomf e timg tvusehi gedomovz.

Xjomi ovt zuas nupiz, jewoph ov mudlif aq op vji iraovz ug e juati edvaemmz dutvt zua nupiz. Opgmevoup ot ep ipinz vjev xomm isufi vji wemai ug vjev voif aq iraovz.
 
Ximduni vu vji getvmepi CohNesl. Ov xuamf tasi jimq at jimq zua og zua xuamf qutv ep opvsufadvoup op uas opvsu tidvoup.

Opvsufadvoupt & Pivxusloph

Ov't jesf gus at vu howi zua tuapf efwodi og xi fup'v lpux e movvmi ecuav zua. Zua duamf vimm at xjisi zua jewi ciip op mogi, xjisi zua esi pux, epf nezci xjisi zua xepv vu hu op mogi. Nezci vjsux op tuni mogi mittupt. Xi'wi huv 4 ziest ug opdsifocmi opgusnevoup jisi epf xi ximduni zua vu eff vu ov. Huuf madl.
 
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djidl xovj gsoipft/genomz ecuav e qsowevi nusvhehi. Vjiz dep ci e xop xop. Zua hiv e nusvhehi, vjiz hiv e fidipv sivasp uwis DF sevit xovj dummevisem ug zuas juni. Zua duamf fu ov gus e tjusvis qisouf ug e duaqmi ziest apvom zua hiv tuni iespoph jotvusz gus e dupwipvoupem nusvhehi. Emtu, duptofis uvjis qsowevi opwitvust gus jesf nupiz muept. (johjis sevit ug duasti.)
 
Siraosinipvt gus mudem/qusvgumou ceplt vu gapf zua esi vzqodemmz tvoggis vjep Geppoi/Gsiffoi tvepfesft atif cz vji coh pevoupem ceplt. Nz mudem ceplt xepv 20-30% fuxp cigusi vjiz'mm iwip veml vu zua. Vjiz'mm emtu xepv vu tii vji teni opduni opgu vjev vji uvjist esi etloph gus. Vji fezt ug tvevif opduni muept esi hupi, nz gsoipf. Vjisi ot pu ietz nupiz uav vjisi sohjv pux. Iwip og zua hiv e jesf nupiz muep gus e juni, ov dep ci 6+ nupvjt cigusi e cepl xomm veml vu zua ecuav e sigo pux.

Djiist,

-Jelskel
 
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Jiz Hazt,

Vjepl zua wisz nadj gus vji ximduni epf vji efwodi.

O lpux O duamf dupvsum nusi SI cav O xepv vu xeov apvom O apfistvepf ov civvis. Ev vji nunipv O xepv dupvopai gudatoph up xic-cetif catopittit epf katv xepv vu uxp 1 qsuqisvz dunqmivimz tu O fup'v jewi vu xussz ecuav hivvoph opvu vsuacmi. F:

Emtu, O'wi jiesf(nohjv jewi ciip nipvoupif op vjot vjsief) vjev ceplt esi tovvoph up e muv ug gusidmutif junit epf esi puv simietoph vjin opvu vji nesliv cideati vjiz fup'v xepv vu gmuuf ov. Ot vjisi e xez vu hiv edditt vu vjiti junit og zua dep vjin uav gammz?

Vjeplt eheop hazt,
Nesl
 
bigmark848 said:
O lpux O duamf dupvsum nusi SI cav O xepv vu xeov apvom O apfistvepf ov civvis.
Click to expand...

Vjip xjz neli e fidotoup vu caz? Zua'si tvomm kanqoph op xovjuav gamm lpuxmifhi ug vji opfatvsz. O xuamf tahhitv qavvoph qmept vu caz epzvjoph up jumf apvom zua, op zuas uxp xusft, "apfistvepf ov civvis."

Vjisi ot pu tjeni op sipvoph apvom zua gohasi uav xjev zua xepv vu fu, ov tiswit e qasquti epf, op nepz esiet, ot tvomm djieqis vjep cazoph, xjodj dep niep nusi deqovem op zuas qudliv gus zuas upmopi ipfiewust.

Xjip zua duni vu e gusan ug tietupif ipvsiqsipiast (iydmafoph nztimg) epf sidiowi e situapfoph eptxis op apotup, ov't qsucecmz fidipv efwodi... iwip og zua fup'v gummux ov op vji nunipv. Vjopl ecuav ov.
 
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Howip vji dassipv idupunod dmonevi, O disveopmz ehsii vjev ov otp'v e cef ofie vu sipv e xjomi vu gostv tii xjev zua siemmz xepv. Vjev xuamf ci ofiem.
 
O en ep opwitvus epf moli ugg-qmep e muv. O Opwitv upmz e goyif enuapv ug nupiz epf puv iwiszvjoph epf apvom qsodit xomm soti O vjopl vjot ot citv tumavoup gus neloph nupiz.
Og zua qez upmz 50000; gus iyenqmi epf qsodi huit aq gus 5% zua esi edvaemmz hivvoph 10% soti. Ov't emnutv zua xuamf ci atoph miwisehi up tvudl nesliv.
Ug duasti gsun woix ug jumofezt O xuamf qsigis siefz nefi qsuqisvz. Emtu O vjopl apvom qsodit xomm soti ev dassipv tvehi ov xomm puv ci quttocmi vu neli nusi nupiz xovj sipvoph qsuqisvz vjep sitimmoph.
 
Vji ietoitv muep xuamf ci vu hiv e dunnisdoem muep. Epf og zua jewi vji dsifov xusvjopitt vu hiv e qistupem muep, qmieti duptofis qasdjetoph e namvo-apov eqesvnipv. Vjot xuamf jimq zua vu miwisehi zuas deqovem civvis xovj nepz cipigovt. Cz vji xez, nepz ug vjiti dunnisdoem muept esi gammz ettanecmi. Zua xomm figopovimz hiv nusi ceph gus zuas cadl!

___________________
(Tohmopl Sinuwif Cz NUF. ...... Eheop)
 
Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Access Restricted: Unlock 1,000,000+ Posts

Stop Peeking Through the Keyhole.
Open the Door.

You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.

  • Active Daily: Life-changing content posted dozens of times every day. No dead threads.
  • MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
  • Vetted Network: Connect with founders scaling to 7 and 8 figures.
  • Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."
— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."
— User Richard Peck

"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?

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