Updated over 5 years ago on . Most recent reply
Investing in College
Should I invest in a rental property now, or wait until I graduate college? I am currently a Sophomore and would hope to invest in a rental property at the campus I attend in the Summer before my Junior year. I'd use an FHA loan and live in the property Junior year, then rent it out Senior year and on. I have enough money saved up for a downpayment and I would cosign with my Dad to qualify for the loan.
Here are my concerns:
-I live roughly an hour and 45 minutes from campus. While at school I would be near my property, but during the Summer and some breaks I will be away.
-Once I graduate, my job could possibly take me far away from my rental property.
-Will it be difficult managing an investment property for two years while I am still focusing on schoolwork?
I'd love to purchase this property and start building my portfolio early, but at the same time it also seems smart to just wait another 2-3 years when I know where I will be working and start then. I'd hate to wait because I have been learning about investing in rental properties for the past year and have saved up all my money with hopes to purchase one. Let me know what you think, any input is appreciated. Thank you.