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Updated about 3 years ago on . Most recent reply
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Advice for new college grad wanting to invest in real estate
Hi this is my first post on the the BiggerPockets forum! I recently graduated college and moved to Denver to start a full-time engineering career. I've been listening to the BiggerPockets podcast for awhile now and have my sights set on building a real estate portfolio over the course of my life. I'll probably rent and live in the downtown area for around 3 years then look into buying a starter home that I can house hack. What practical advice would you give someone like me to put myself in the best position when I start investing? Thanks!
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@Dylan Peake Is a house hack a goal of yours in the future? Study the requirements for an FHA loan like a book and make sure to set yourself up for success. Examples would be building up your credit, getting the most recent tax returns for the last 2 years in the same field, building up capital for the down payment, closing costs and 6 months in reserves so you can use as much of the rental income from the other units as your own income when you getting qualified. These are some barriers I had to make sure to be able to climb over. Let me know what questions you have.
- Joshua Janus
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- Podcast Guest on Show #1