Is this a good idea?

[Terry Skinner]

I am 19 years old and interested in investing in real estate. I currently attend a university and made the mistake of signing a year lease (because its far from home, I didn’t know any better and just wanted to party). As for the future, would it be a good idea to buy for example, a 2 bed 2 bath house/condo and rent out the other room (to another student more than likely) while I go to school? I would be paying down my mortgage as opposed to a apartment complex, make that first leap to owning property, have a place to live, and continue to rent out both bedrooms when I graduate. After the lease ends [Jul 2019] I won’t really have any money or any place to live. Which means I have a little more than a year to work and save money while in school. Also, student loans don’t accrue interest or require payments until 6 months after graduation. Are there any negatives that could come out of this that I am not seeing? Would this be possible with student loans (less than 40k)? Is this a good idea or should I just focus on school and suck up the rent payments for the next couple years?

[Caleb Heimsoth]

Terry Skinner I would recommend not trying to do this. Do you work at all right now? You would need good income to qualify on your own for a mortgage. You could always have someone else co sign but that has its own issues.

Your best bet is to do great in school, minimize student debt, and work an internship or two within your field while in school. Also don’t forget to have a lot of fun while there. Socially speaking college is probably going to be one of the best times of your life. What are you studying? If you want to do REI, your best bet is engineering, finance, or accounting.

I did everything I just mentioned when I was in school and now have 3 properties. (Graduated about 2 years ago).

If you have questions or want more specifics, feel free to message me