College Student Looking to Start Early!

[Account Closed]

Hello BP community! I am a student attending The University of Georgia. I'm going to graduate next May with a degree in Real Estate and I have nowhere to live come August. I'm looking to buy a property and rent it out to cover the cost of a mortgage. I can find deals and negotiate but funding is my main issue which leads me to ask: how did those of you that started out with young credit and low funds get your first deal financed? Thanks in advance!

[Matthew Saskin]

Originally posted by @James Wise:

@Account Closed

Welcome to the site. 

An owner occupied 2-4 unit property would work great in your situation.

Only need 3.5% down with an FHA loan.

I'd second this statement. We bought our first home (which also happened to be an investment property) via an FHA loan - we were a few years out of college, but the point remains. Triplex in Brooklyn, NY, lived in one unit and rented out the other two. We lived in it for two years before moving elsewhere and that property still sites in our portfolio.

-matthew