Advice to a Undergraduate College Grad

[Henry Van Eijk]

Hi Everyone,

I will be graduating college this May and I have secured a well paying tech job in the Raleigh/Durham area starting this summer. I would like to buy a property as soon as I can. My plan was to buy a property in this area and try to rent out the other bedroom(s) to friends or medical/graduate students in the area. This would be easy as there are so many well respected colleges in the area. I have been thinking about a new construction apartment specifically in the Raleigh area (2 bedroom, 2 bathroom). I would look for something close to a college campus. New construction apartments typically go for around 300-400k in this area. I've been told to go for a 30 year FHA mortgage. My goal would be to start off by living here for at least two years for tax-free benefits (if I sell) and then go from there. If I were to move, I would most likely keep the property and then just rent it out for the future. What are people's suggestions on this? I was thinking about maybe buying a multi-family home but not much is on the market. I have had family members tell me that a new construction apartment would be a good way to start especially if I can rent out another bedroom. People have also told me that if I were to buy new construction, the builder might give me a stipend or something to help out for the down payment. I am new to this community so any advice would be very helpful. Thank you!

If anyone has any books or other resources that they recommend, please let me know also!