My name is Nathan Witte and I have been reading and studying about real estate for about 2 years now. I am really interested in Real Estate but I am about to start my sophomore year at Purdue University and I want to know if it is feasible or even possible for me to start investing in real estate, when I have no credit, an internship as a job, and go to school almost 2 and a half hours away from my hometown. Is it best for me to just spend these next couple years really studying and learning my plan of attack or get in the weeds and start? And if so, how can I start?
Hey @Nathan Witte, I am also a college student interested in real estate! What I would say is that it is important to get a credit card because loans from banks will require you to have some type of credit and a job for at least 2 years ( Thats what Bank of America told me). Also I would focus on analysing deals and running the numbers so that when a deal comes your way you will know immediately. I just upgraded to become a pro member for unlimited use of the calculators. There are youtube videos on how to run the numbers on rental properties if decide not to upgrade to pro.
All in all I would say to build your credit and start running the numbers on properties!
@Nathan Witte Hello. Great for you with school. Yes it is feasible and possible without money/job and credit. I did and jumped in both feet. I am not sure what you mean "get in the weeds"???
Start by wholesaling. You can have paralysis of analysis of how to move ahead. Flip houses. With your schedule this would be possible.
In regards to building your credit, get a secured card from your bank right now. Even if your score is over 680, get a secured card. If you build with credit cards too fast all at one time, this will hurt your score.
If you want to start rehabbing, you will need income for any type of funding. Wholesaling will build your income until you want to fix and flip.
Hope that helps!
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