First Post College Investment- FHA 203K House Hack
Hello everyone! My name is Josh Ricord and I am a recent Biomechanics and MBA graduate and retired student athlete as of 2023. I am currently in my first year of my W2 job (post graduation), and after a year of listening to Bigger Pockets, getting my real estate license, and allocating funds, I have finally decided to dive head first into my first investment. I have 20k saved and plan to use an FHA 203K loan and house hack to net zero/cash flow minimally on my first investment. I am using my newfound access to the MLS as a tool to source good deals and make educated and sound investment decisions. As a college athlete at a smaller D2 School in Georgia, there is a strong market for student housing that has yet to be met in my area. With tons of ex teammates and international students looking for housing in our small town environment, there is a untapped avenue to succeed. My primary goal is to net zero with house hacking, renovate to appreciate, and refinance after a year, pulling built renovation/sweat equity. This in essence to pull liquid cash out for a second investment, and transition the property into a long term rental. I wanted to use my introductory post on Bigger Pockets to prompt feedback and advice on my current foundational plan from industry professionals that can guide me on my journey to success.
- How can I maximize my strategy for investment longevity? How feasible is this plan from the POV of a seasoned investor?
- What is some good general preliminary advice when jumping into your first investment?
- How can I use my real estate license as an advantage to the best of my ability?
Thank you so much for taking the time to read and respond to this post, and I look forward to networking with you all in the future. Thank you!
- Josh Ricord