Assistant Property Manager · Newport, RI · Member since 2015 · 10 posts · 0 votes
Hey BP community,
I am a 21 year college student graduating in May 2016. As soon as I graduate I plan to begin a career in real estate investing. I'm from the Southern Maine area and will be investing here. Hopefully in a duplex/triplex that I will occupy so that I can get an FHA loan. While I don't currently have the capital and will not be (realistically) investing until I graduate, I am always looking to learn here on BP especially in the Creative Financing area!
Hey @Blake Dowe, welcome to BP. Sounds like you're going to "House Hack"! Excellent move my friend! I'm in my mid-20's and own a house with my wife. We'll likely rent it out in the next year if we can stumble across a nice Foreclosure needing minimal work. One tip would be to get the FHA loan before any student loans go into repayment (if you have student loans). Lenders don't like active student loan debt.
@Blake Dowe I love when young people create a plan for themselves, I wish I had started my RE adventure at an earlier age. Owner occupied seems like a really good plan, keep reading, asking questions and learning it will only serve you well in your future.
There is nothing like setting yourself up to have options about how you want to live your life.
Seller financing might be an option, you can live in the property and pay the previous owner while you pay down the mortgage.