How to obtain a house hacking property as a teen

[Landon Brabazon]

I will be a freshman at the University of Georgia in fall and I want to buy a property to rent out while I’m in school (that I can house hack) and then 1031 when I graduate. I have been saving and investing the money I earn at work in USDC for the 9% for a down payment.  I think I have a good basic foundational idea, but it’s difficult to get started. I’ve obviously never bought a home before and everyone who has that I’ve gone to for help has told me that I can’t do it. I think there is a way I can, I’m just not sure what it is. I’m hoping someone who knows can help me. Then if I find a way, I want to make sure it’s the most efficient route for my limited capital. I’m sorry if this is a difficult ask, I’m just seeking guidance on how to get started on this path. I’d really appreciate any guidance or advice. Thank you so much,

Gratefully,

Landon Brabazon

[Nathan Gesner]

Quote from @Landon Brabazon:

I will be a freshman at the University of Georgia in fall and I want to buy a property to rent out while I’m in school (that I can house hack) and then 1031 when I graduate. I have been saving and investing the money I earn at work in USDC for the 9% for a down payment.  I think I have a good basic foundational idea, but it’s difficult to get started. I’ve obviously never bought a home before and everyone who has that I’ve gone to for help has told me that I can’t do it. I think there is a way I can, I’m just not sure what it is. I’m hoping someone who knows can help me. Then if I find a way, I want to make sure it’s the most efficient route for my limited capital. I’m sorry if this is a difficult ask, I’m just seeking guidance on how to get started on this path. I’d really appreciate any guidance or advice. Thank you so much,

Lenders typically want to see two years of stable income from the same field, and evidence that you will continue to make that income. I doubt you can show that as a teen in college. However, you could partner with someone that qualifies. For example, your parents could be on the loan in exchange for a cut of the profit when you sell or maybe some of the monthly cash flow. You get a place to live, manage the property, and get a cut of the profit.