young new investor, wait... or get started now!

[Mikey Cas]

Hey everyone. I am a college student going into my last year and I work part time off the books. ( I dont show any income so this worries me about a loan....no doc or stated income may be my only option i think). I have excellent credit, but I have only two years history. I believe I could get a loan for a property BUT i have very little money to put down. I also dont have a lot in cash reserves. I have been doing a lot of research in investing. I realy want to get started. I found a bunch of properties in upstate new york and pennsylvania,north carolina, etc that are very cheap. Some of the upstate new york ones look like theyre in slummy neighborhoods, but they are going for 50,000. They are small single family homes. I could probably make some income monthly and rehab the property for a small profit. I feel like I have to start some place, so why not here. I cant afford anything else nearby since everything by me is near the city and expensive. Should I wait until I get a full time job and could better afford this, or invest in a low income area property that is in a not so good neighborhood, but I know I could afford as of now? Thanks for any advice.