Hey, I am currently in college right now but love checking out real estate investment properties and really anything to do with real estate. With me being a full time student its tough to really invest in a rental home or some kind of rental property. Are there any suggestions on other ways to invest in real estate besides REITs in college? I have also seen a lot about crowd funding real estate investment firms and if anyone has dealt with them, are they any good?
I see no one else has replied to you, so I will. I don't know much about things other than straight buy and hold. But if you are worried about the time involved in being a landlord, I'd suggest you look into using a property management company. That's what I do. It started out because I'm terrible at being the bad guy and probably would never evict someone. But now that I'm out of college and have moved, it's perfect because there was no hiccups since I wasn't very hands on in the first place. It's not the cheapest way to rent out property, but I've found it to be effective for me.
Another option is house hacking. If you buy a duplex and rent out the other side, it may be easier for you. And, of course, there is obviously the plan of simply buying a home and getting roommates since you are in college. Get a 3 bedroom and rent out 2 of them. It's a great way to get started, then if you decide to keep your place, you can get a property manager when you graduate and move on.
Concentrate on your education there will be more then enough time to invest after you graduate and are established in your career choice.
Investing is very high risk. You do not want to be derailed from your education due to a bad turn of events.
I am definitely not the most experienced person when it comes to investing, but I thought I'd tell you about how I was able to get into investing while still in college:
I've known for a while that I wanted to get into real estate investing. I was very lucky to have a parent involved in real estate that was able to show me how lucrative it can be and supported my goal to be an investor. I bought and sold electronics on eBay all through high school and my first two years of college. I was able to put aside enough cash to purchase a foreclosure with an investor/realtor this year as a junior in college.
I considered trying to get a loan to buy a property, but due to the fact I was self employed, I had no work history, so my only option was to save cash. I'm glad it worked out this way because I get to invest under someone who has been doing this for a living and I also did not have to have cash to purchase the entire property.
It might be good for you to find someone who you can work under as it is quite a lot of work and a lot to decide on when purchasing a property. It would allow you to invest while also have the safety net of someone who is experienced.
I hope this helps!
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