22 years old..first possible investment..advice?

[Mills Shenkman]

Hello,

I am 22 years old and graduated college last December. I have a full time job now, as well as a side job. I have invest my money and have a good savings account. I looked at a house in Poughkeepsie, NY today near where I live. It is a 1920, 3 bedroom, 1 bathroom, recently renovated. Priced at $112,000. Interested in renting to some college students, (Marist college is one mile away) or other renters. While I am not currently with a broker, I did pass all of my real estate licensing courses, and am interested in investing young without a huge risk!

Thanks! I can give any more info if needed.

Mills

[Josh C.]

@Mills Shenkman 

Just remember you can't do FHA or any other low down payment loan if you aren't going to live there for at least one year. For straight investment you'll need 20% down or maybe more depending on your bank.

Also, 1,000 to 1,600 to 2K is a huge range. Call around to other like listing and narrow it down to within a $200 spread. 

Good luck!