Almost College Graduate Beginning

[Bjorik Mutize]

Hello! I just wanted to ask a question on preference of single family or multi family investments for college rentals? I am about to graduate my senior year, and I have been looking at both that range in the 90k to 120 range for single family to multi-family duplexes. And by driving around I spotted a single family property listed for around 62k 3bd 1 bath. Now if been speaking to some lenders, and I have some confidence if I can find something at the right price maybe I can get a FHA owner occupied. I've been reading that rates for a down payment can be around 3.5%. So theoretically if I can find something at 80k and put like 2.8k down(sorry if the math is off). I think it's doable, of course expenses for rehab and costs for acquisition considered? I just wanted to ask the forum what would be best to start out with? From my research, most properties seemed to be priced right around market, however there is a few that I've caught below that I could possibly look at closely. Right now my stage is team building, I lead a local real estate organization in my school and learning how to analyze these leads a little more diligently so I can minimize my mistakes starting out. I don't have a realtor yet. But all in all I wanted to just ask some advice on the best path starting out for single to multi-family properties in a college town. Thanks!

[Teddy Smith]

If you buy a single family: It will likely be cheaper.

If you buy a multi: It will have a high likelihood of cash-flowing with you living in it. Essentially, you can live in it rent free as long as you are willing to live in one side. It will likely be more expensive though. I'd go with this considering you're a younger guy who's already interested in investing.

What you just said sounds like a pretty solid plan to me. Just make sure you have cash reserves built up for when something break and you get help from a broker, mentor, etc. when doing the deal