Madison, MS · Member since 2017 · 6 posts · 1 vote
I'm 18 years old headed to college in a few months and I'm ready to start real estate investing. I am thinking about college town rentals around the college I will be at for the next 4 years. I have $15,000 saved up for investing but I do not have enough credit to get a mortgage on a property. I have a mentor who may be interested in investing with me.
Banker · Kansas City, MO · Member since 2015 · 23 posts · 2 votes
9y
I would recommend waiting at least a year to invest in the market. I am also a college student and it takes some time to gauge your market in terms of the demand, average rents, and finding the right area to invest. My college is growing at a ridiculous rate which has created a shortage in student housing and consequently has make rents go up. My recommendation would be to gauge the market over your freshman year then potentially purchase a property that you could live in while renting out rooms to friends that you meet over the course of that year. Also speak with local RE companies to see if you can get hands on experience with them and learn from individuals who know the market well. Best of luck in your investing!
Banker · Kansas City, MO · Member since 2015 · 23 posts · 2 votes
9y
I would recommend waiting at least a year to invest in the market. I am also a college student and it takes some time to gauge your market in terms of the demand, average rents, and finding the right area to invest. My college is growing at a ridiculous rate which has created a shortage in student housing and consequently has make rents go up. My recommendation would be to gauge the market over your freshman year then potentially purchase a property that you could live in while renting out rooms to friends that you meet over the course of that year. Also speak with local RE companies to see if you can get hands on experience with them and learn from individuals who know the market well. Best of luck in your investing!
Investor · Las Vegas, NV · Member since 2014 · 471 posts · 241 votes
9y
Hi @Ragan Street....everything that @Ben Thomas says is good advise. Give yourself to a chance to learn the market so you can figure out how to maximize the return on your investment. Invest in a city/county where there are 6 higher education schools. One option that you can take into account is to rent individual rooms so you can maximize the rent you collect. Best of luck to you!
Investor · Las Vegas, NV · Member since 2014 · 471 posts · 241 votes
9y
My bad...I meant to say "I invest in a city/county where there are 6 higher education schools." That's what happens when one starts typing on PB late into the night! ;-)