College student looking to start investing
Hey everyone,
I am currently a senior at Purdue University graduating May 2017 in Financial Counseling and Planning. I do not know where my full-time job will place me but I would like to get into real estate as soon as I can. Obviously, cash on hand is minimal as a recent grad.
I know house hacking is often emphasized as a good starting point for newbie investors, but I am curious what other strategies new people might have found starting off with little money. I do not necessarily want to be a hands-on landlord and would like to hear what you guys have to say in regards to saving up money as quickly as possible to put it into real estate.
I look forward to all your advice, thanks!
Most Popular Reply
A few or my friends purchased their first multi-family rental properties with FHA loans, which require much lower down payments than traditional financing. The lived in one of the units for a couple of years, then moved and started renting the whole building.
It's not that creative of a strategy, but it can help you buy your first one without putting a lot of money down.