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Hello!
I am highly considering business school in 2 years, and will consider attending full time if I am admitted to Harvard, Wharton, or Stanford. Given the following circumstances, do you think I would have a difficult time convincing a lender to help finance my education given the fact I own real estate? Is there a chance they would deny my application and/or require me to sell or get a co-signer? Just looking to plan ahead and make sure I have my ducks in a row if I decide I want to go do this.
*Expected income of ~85 to 95k prior to attending business school (base salary, not including bonus)
*Expected MBA cost: 200k
*Expect income to increase to 150k+ post-MBA.
*Currently invest in real estate on the side. Own a two-residence rental property in a highly desirable location. When/if I head off to business school, I will have roughly 420k on the mortgage, and 620k property value assuming no major market fluctuations before 2018. Net operating income of 20k annually with both units leased (vacancies are near non-existent in my market). Gross income before expenses will be ~60k
*Aside from real estate, will have roughly 10-30k in savings + a six figure sum in my 401k
*Highly sought after as tutor. Can earn 50-100 hourly and plan to do this part time if needed during school
*High credit score. In the 790s last time I checked