I am in college and fortunately not paying any expense for school/housing/food through scholarship. I am currently saving up $10,000 from working during breaks and part time each semester to put on a down payment on a house in my area that has been on the market since ‘09 and is specified to be sold in “as is” condition. I am wanting to purchase this house as my first rental unit and am planning on making it a “house hack” for myself and my fiancé to employ the BRRRR strategy on. I am asking for any advice people may have about investing in college towns that are more rural than not.
First advice - if a property has been on the market since 09, then I would not look at that property as a first project.
There must be something terribly wrong or the price must be way too high for the property to be sitting on the market for 8 years!
I think you should take your funds, buy a multi family with an FHA loan and the rent out the other units and house hack it.
I love hearing that you're saving up all that money. That is going to be the cash you'll use to fund your business. Trust me. I did the same thing William.