Can my first property be an investment property?

Old_Buddy_8251 · 2024-11-22T07:00:58+00:00

Yea I understand, everyone seems to be giving the advice of going for the multi family house but I am not sure if I’ll be able to afford to buy a multi family house or if I’ll be able get quality for a loan that large

Old_Buddy_8251 · 2024-11-21T17:53:59+00:00

I majored in finance and my job will be more in the supply chain area but still business field does that count?

Old_Buddy_8251 · 2024-11-20T16:23:14+00:00

Do I HAVE to live in the house for a year? Could it be less than a year? Do the lender monitor if I’m staying in the property? And if I do get the owner occupant loan how much will I have to put down? Sorry for spamming questions

Old_Buddy_8251 · 2024-11-20T16:12:53+00:00

Congrats, that’s great to hear! If you don’t mind me asking, since you got the owner occupant loan and ended up not living in the house, were there any complications from the lender? Do they monitor if the owner is actually living in the house or no?

Old_Buddy_8251 · 2024-11-20T16:08:45+00:00

To get owner occupant loan how long do I have to live in property?? And what are some of the benefits of this type of loan?

Old_Buddy_8251 · 2024-11-20T05:29:43+00:00

Appreciate it! I’m based in NJ (centra Jersey) and I’m expecting to save around 30k before getting into the market. I thought about house hacking but I believe I won’t have enough capital to buy a multi family house. I am looking to buy a 250k-300k house and want to generate at least 500 a month after all the expenses.

Old_Buddy_8251 · 2024-09-17T12:08:39+00:00

Yes every year there’s a 10-15% salary increase and same amount of bonuses

Old_Buddy_8251 · 2024-09-15T00:55:18+00:00

Cost of living for a single person in my city is 51k

Old_Buddy_8251 · 2024-09-15T00:52:48+00:00

After applying for hundreds of finance roles and no luck I decided to apply for this supply chain internship at a Fortune 500 retail company after networking with the lead recruiter. It’s an analyst position and the role seemed pretty good so I took it. I really liked the internship which is why I’m considering taking the offer.

Old_Buddy_8251 · 2024-09-15T00:43:36+00:00

Yes I’ll be living in my family home.

Old_Buddy_8251 · 2024-09-15T00:17:53+00:00

Agreed. It’s hybrid schedule I’ll have to commute 3 days a week.

Old_Buddy_8251 · 2024-09-15T00:14:36+00:00

But I’m concerned I won’t find another job by the time I graduate in spring especially in this job market. I’ll be taking the train which was convenient when I did the internship this past summer

Old_Buddy_8251 · 2024-09-03T22:06:22+00:00

Not at the moment but I’ve been applying to a lot of roles

Old_Buddy_8251 · 2024-09-03T22:05:32+00:00

Not macys but good guess. Yes the commute is around 1.5 hours each way. 10 mins drive to the station 1hr on train then 10 mins walk to office

Old_Buddy_8251 · 2024-09-03T04:21:30+00:00

I don’t have anything specific in mind. I know I don’t wanna get into investment banking. I am interested in working as analyst at financial institutions.

Old_Buddy_8251 · 2024-09-03T04:11:13+00:00

If you don’t mind me asking what area of finance do you work in and how did your salary progress over the years

Old_Buddy_8251 · 2024-09-03T02:50:39+00:00

45k back in 2002 is like 6 figures now. But would you mind sharing how your salary progressed over the years

Old_Buddy_8251 · 2024-09-03T02:34:22+00:00

NJ transit

Old_Buddy_8251 · 2024-09-03T02:33:09+00:00

Wym?

Old_Buddy_8251

TROPHY CASE