I currently seeking for a place to live in Tallahassee, Florida while I complete my degree. I do not have enough income to pay for a room in a decent area. Preferably close to the FSU campus. Could it be a good idea to buy a home on contract and use the rent money from my tenants to pay the mortgage? I would probably sell the home after I graduate. I appreciate any advice given.
That sounds like a great idea! I am currently going through the same process(although I already graduated from FSU).
You will need to know your credit score, talk to some lenders to find out your options, and get in touch with real estate agents to find those that can provide you with a list of properties in your price range/style. There is a ton of info on this site regarding all the different types of loans(fannie mae,va,usda, tradiitonal etc), which I would recommend you familiarize yourself with. Those which may not apply to your situation now, will probably apply to your real estate endeavors down the road.
Which lenders and real estate agents do you recommend?
To make the @ work, do the following:
Hold down the shift key and type @?
Look below this Window, and you will see a list of names of people that have posted in this thread.
Click on the name of the person that you want notified via an email, that you responded to them.
If you are a Colleague with anyone that has NOT posted in the thread, and you want them to see your post, hold down the shift key, type the @ and the first 4 letters of their First or Last Name.
Then look below this Window and click on that person's name.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.