I’m 18 years old and wish to take out a 60,000 dollar loan to purchase a trailer. Is this at all possible?
I am an 18 year old college student with no credit. I live with my parents and have no car of my own (no collateral). The only thing I feel I have going for me is a steady job (albeit a low paying one). That being said, the reason I wish to take out such a loan is that I (along with a friend) would like to purchase a small trailer in a town near my own to fix up and resell. I understand the market is in the toilet right now, but I feel that I am up to the challenge (or at least I hope I am). I realize that 60,000 dollars is a whole lot of money and that if this doesn’t go my way (if it’s even possible) I’d be in some serious debt. Regardless, I have done much research and while I don’t at all consider myself an expert on the topic of real estate, I really believe that I can do this and I think it would be worthwhile experience. If anyone has any information about someone in my position taking out a loan this large or any tips on flipping houses, I would appreciate your input. Thanks.
if u have no credit. there is a pretty goo dchance you cant do it.. you would need someone with credit to take out a loan of that size.. and to fix up a trailer.. that will b a lot of work.. you will have to b paying for tha house.. while you are fixing it up..
GOOD LUCK IF YOU PULL IT OFF THOUGH!!!
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