Where should I start after I graduate college

Question

Hey everyone,

My name is Brice — I’m a 22-year-old college student graduating this December with a degree in Business and Organizational Leadership. I’ll be moving to Columbia, South Carolina after graduation, and I’m looking to get started in real estate investing as soon as possible.

I’ve been reading books, listening to podcasts, and browsing BiggerPockets, but now I’m looking for some real advice from people who’ve done it.

A few things about me:

• I’ll be a first-time buyer
• I’ll have around $5,000–$7,000 saved up by the time I graduate
• I’m open to house hacking, but I’m having a hard time finding duplexes in the areas I want to live in
• I’m willing to live in the property if it helps me get started
• I’m planning to use FHA or some kind of low down payment loan

Here’s what I’m trying to figure out:

• Is house hacking still the best way to start in a city like Columbia?
• Should I consider building a duplex if I can’t find one to buy?
• Are there other smart strategies for someone with limited capital (like partnering, wholesaling, or BRRRR with a cheap single-family)?
• What would you do if you were starting again at 22 with limited money but high motivation?

I’d really appreciate any feedback, success stories, or even mistakes I should avoid. Thanks in advance to anyone who takes the time to share — I’m just looking for the smartest path forward.

— Brice

Nicholas L. · Answer

@Brice Peterson

• Is house hacking still the best way to start in a city like Columbia?Yes
• 
• Should I consider building a duplex if I can’t find one to buy?
• No
• 
• Are there other smart strategies for someone with limited capital (like partnering, wholesaling, or BRRRR with a cheap single-family)?
• No
• 
• What would you do if you were starting again at 22 with limited money but high motivation?
• House hack several times in a row

Scott Mac · Answer

Re: Limited money???

[1]        Thinking.   You might find it useful to think about that statement in a different way, and reword it to something more useful to yourself such as - Not enough money right now to comfortably be able to do this.

Understand that trying to do this with very little money perhaps may introduce more risk of loss of that money.

[2]       Saving.   Once you graduate and get established in your new job, think about getting a second job and stashing all of the money from both jobs if possible until you come up with a larger amount of money, whatever that amount is that you believe you need.

[3]       Sweat equity.    Perhaps learn to be a hammer-swinger type of owner and educate yourself on Youtube about how to do some basic repairs and upgrades.

[4]       Reading.   If you have not already, read Rich Dad Poor Dad.

Good Luck!