college student going into real-estate

4 Replies

Hi! I am a rising senior in a small college in Indiana and looking to begin real-estate investing. I am not planning on flipping but am hoping to do rentals. I do not have any background in the area and am reading up on it as much as possible.  How did you start out? 

Easiest thing for you to do would be a house hack. Buy a 3 or 4 bedroom house with 3.5% down (this will require you to live in it) and then rent out the other rooms so that your personal “rent” costs are as close to zero as possible. While living there basically “rent free” save your cash for next deal. 

Indiana is a good place to start. I invest in Indianapolis, but any college town or NW Indiana are good options as well. Laws and regulations tend to be better here than most markets. It's still affordable and can get decent enough rent rates to cash flow even with a mortgage. Most Indiana markets are growing as well with low unemployment rates. There are a lot of good markets out there, but if you're already in one... you're have an advantage over the OOS investors and there are a lot of OOS investors interested in Indiana.

Mirgul,

I also went to a small Indiana college and didn't look much into investing in real estate until late in my schooling. The summer before my senior year I was looking for a job and unintentionally got my foot in the door for real estate with an internship through my school at a property management company. From there I got my real estate license and joined a team of investors in Indianapolis. In my personal investing, I was able to get great conventional rates as a first-time home buyer and bought a duplex to house-hack. I'm still in the early stages of my career and investing, but I'm very exciting for the opportunities in real estate and hope you're able to find your place to get your "foot in the door"!