Here's my situation: I have one more year left at The Ohio State University before I graduate. After graduation, it's very likely that I will be going to grad school for 2 more years, and that will likely be in Indiana (my home state).
As far as my experience in REI goes, I'm trying to get started. I've read 4 great real estate books, taken tons of notes, and listened to several podcasts here on BP. But I haven't done my first deal yet, and when I do, it's going to have to be with little to no money down.
My question is, what should I invest my time in this year while I'm at OSU? Should I just continue to work on building my knowledge base? Should I look to invest here in Columbus? Or should I look to invest back home in Indiana? Or something else?
Any help/recommendations would be MUCH appreciated! Thanks guys.
Here is what I would recommend.
1. Start saving every dollar you can for you down payment whenever you make the move, maybe even working an extra job if you can.
2. Continue educating yourself as much as you can right here on BP.
3. Learn all that you can about house hacking and apply that method after you move in a year.
4. Start talking to lenders to see what your going to need to do to get pre-approved for a loan. Possibly consider talking to the bank of mom and dad.
5. Consider wholesaling in the meantime. You don't need to start a marketing campaign but could use the driving for dollars technique which you can learn how to do here on BP.
Colin thanks so much for taking the time to respond and give me some great advice! I love what you have suggested and I will do my best to accomplish all the things you mentioned and see where it leads. Thanks again!
No problem and good luck! I hope to see a success story here in a year or two from you. :)
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing