Posted by Jay(OR) on October 16, 2003 at 24:54:32:
Well, not that I’d advise you to do the same, because the legality of such actions is questionable, but I took out my student loans, even when I didn’t need them and was able to use the money as a down payment on a house. Not really illegal, because I spent the loans on my living expenses, and put the money I’d normally spend on living expenses in my bank account, so the funds from the loan weren’t really used for real estate. Anyways, just a thought…
I’m a 20 year old student at GA Tech with no money in my bank account and a '98 Mustang to my name. I’ve been trying to get into real estate investing for quite some time now, but I keep running into one problem, I don’t have any money!!! Tech is right in the middle of Atlanta, and the rental market is huge in this area. I just hate to see so much opportunity pass me by because I’m stuck on financing. Could someone please point in me in the general direction of where I can possibly get financing to take over some rental property. Thank you very much for your help in advance.