Real Estate Business Question

[Kevin Keefe]

Hello Everyone, my name is Kevin.  I am a junior at Rutgers University. A little about myself: I started a landscaping company y junior year of high school and sold it last july for a hefty profit. I am in all sense of the word business savvy. How wouldn't i go about starting a real estate business at this age with about 60k saved? Any tips or advice? I have a very outgoing personality and  strong work ethic. Thank you everyone!

[Craig Curelop]

@Kevin Keefe - Hey Kevin, welcome to BP! 

Congratulations on saving $60k! That's a great start. Even better than you are looking to put that into real estate. 

My suggestion would be to look at some multifamily properties around Rutgers and house-hack it. 

If you're unfamiliar with that term, it means to put low money down (typically 3.5% using an FHA loan), live in one unit and rent out the rest. That way, you have someone else paying down your mortgage so you live for free (or very little).

After one year, you can refinance out of your FHA and do it again and again for the next few years. You can still invest in other properties as well, just not using an FHA loan.

If you are looking out of state and are interested in investing in the Denver area at all, let me know!