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#1
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I want to invest, most likely in real estate. I am 18, have no job, no high school diploma/equivalent, and the only thing I own of value is a car worth about $2k. Anyone else see the problem? Eihli to banker: "Hi, I own nothing, have no job, no education, illegal income, and I'd like to borrow $75,000 to buy a house." Doesn't look good. What are my options, saving "get a job and ged", as a last resort? What options open up if I had cash to invest, and how much cash would it take to open that option? I'll save my questions about paying taxes on that cash for the internet forum, but if anyone here feels like they can help in that aspect, it would be appreciated.
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#2
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Join the US military
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#3
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Can't without high school equivalancy.
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#4
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Nah, I hear these days the recruiters will even take the test for you.
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#5
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[ QUOTE ]
I want to invest, most likely in real estate. I am 18, have no job, no high school diploma/equivalent, and the only thing I own of value is a car worth about $2k. Anyone else see the problem? Eihli to banker: "Hi, I own nothing, have no job, no education, illegal income, and I'd like to borrow $75,000 to buy a house." Doesn't look good. What are my options, saving "get a job and ged", as a last resort? What options open up if I had cash to invest, and how much cash would it take to open that option? I'll save my questions about paying taxes on that cash for the internet forum, but if anyone here feels like they can help in that aspect, it would be appreciated. [/ QUOTE ] Bet it all on black. Repeat until you can buy the house cash or go broke. Seriously, what do you expect. Loans are not made on charity. You have to have something of value to give them if you expect them to give something to you. You need sufficient and verifiable income and/or collateral to qualify for a loan through the usual channels. eastbay |
#6
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Which is why I asked how much money I would need. If I can put 90% down on a 100k house, I'm sure someone would loan me the other 10k. And if I can't pay back the 10k, they keep my downpayment and a house worth 100k. But how far down does that go? Would I be better off not getting a loan and paying cash for a less valuable property, then using my equity in that to take out a loan?
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#8
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Thanks for the link. That has a lot of helpful information.
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#9
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You seem to able able to put a few sentences together. Is there some reason why you can't even get a GED? If you can't muster the determination to get a GED forget about real estate. My advice is get your frigging GED and then leave SW LA for any big city with better job opportunities. Once you do that check back later for more advice.
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#10
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I think I heard of people who scored high enough on their ACT were able to get their high school equivalancy just by showing their score. It won't be hard for me to get.
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