Saving up for a House Hack: One Year Out

[Bennett Wilbert]

Hello everybody,

So I am about to enter my last year of college at Rowan University in New Jersey. I have been lucky to have help from my parents to get through college so I will be graduating pretty much debt-free. I am hoping to buy my first property as a house hack sometime after college in late 2022 or 2023. Thinking ahead, I am wondering how much I should be saving up in the meantime. Some factors that are playing into my thought process 

1. My starting salary in the fall of 2022 should be around $40,000 a year. Not much, but, I will be living with parents with no rent at first, so I can save it all. 

2. I do not mind putting down a low down payment through FHA or a conventional loan. Heard it can be hard to buy that way though?

3. I have about $25,000 to my name currently, mostly invested in the stock market. 

4. I am working part-time during this school year with low expenses, hoping to bring home around $10,000. 

5. A quick browse through for sale multi-family in my area is showing I can expect to pay around $250,000. 

So yeah, after all of that info I'm wondering what people's thoughts are. Not a huge fan of holding money in cash and have never saved up for a house before. Any help with be greatly appreciated. Thanks!