Starting out (UNIQUE) :Excepting advice from anyone and everyone.

[Liam Nichols]

Hello, My name is Liam Nichols. I am a 17 year old future real estate investor with lots of options. I am fairly educated in real estate. I have read multiple real estate related books, and I am an avid listener to the Bigger Pockets podcast. I am also a close with a successful full-time real estate investor who I have spent time working for as a contractor, which has taught me a lot. The best way to describe myself is driven. 

Here is my situation: My goal is to be a full time real estate investor by the time I'm out of college. So in approximately 5 years I want to to be living off of cashflow. I will be taking a gap year in between high school and college, so I will be staying with my parents. Which means that I will have more than a year to work, and raise capital for future investing. My college will be paid for by scholarships and my family's college fund.( I will not be paying for college which I am extremely grateful for). Through my years of college I will start building my portfolio. 

Here are my questions: What general advice would you give me? What specific advice would you give me? What state/city or area should I go to college near for the best chance of success? Any Life/Non-Real estate advice? 

Thanks to everyone who leaves there 2 Cents. 

[Ryan Thomson]

@Liam Nichols it sounds like you are very driven and I wish I was thinking like you at 17! Here is an interesting idea. Use your knowledge and drive to convince your parents to get a home near your college. Co-sign with them and put some money down with them if you can. 

Buy it as YOUR primary residence with your parents as the co-signers. This would allow you and your parents to only have to put 3.5-5% down. Then you rent out the rooms to your college friends. This will probably allow you to live for free and your parents to avoid a dorm or expensive home payment while you are in college. Not to mention you can both cash in on appreciation and loan paydown. 

If you really wanted to scale, you could do this each year. Rent out the last house to a new group and move with your friends to the next house. This is a great way to scale and you only have to put 5% down if its your primary residence each time. 

You obviously need to convince your parents or (someone who would co-sign and help with the downpayment) about how good of an idea this is. But if they are savvy money people and they trust you (which I bet the do), then this seems very doable.