Seeking Advice for First Investment

[Zachary Kersh]

I'm currently at the halfway point of my 3rd year in college. I'd love to form a rough plan to invest in a rental property as soon as possible after I graduate in 1.5 years. I'm exploring financing options such as FHA loans and jumping homes to house hack, conventional financing through a mortgage, and hard/private money lending.

Upon graduation I should have about $110K in cash to invest. I'm ultimately looking for models to follow based on your success stories. Thanks!

[Zachary Kersh]

Quote from @Shawn Parsh:

Zachary,

I agree with Wale on steps you could take, but I would also like to ask where you live now? Do you own or rent? Why must you wait another 1.5 years to start investing? If you know you want to invest then I would continue to educate yourself on the business to include financing options. There are many on this site that go to school fulltime, or have fulltime jobs, or multiple jobs and yet still invest. I say if at all possible get started now. 

Hi Shawn,

Thank you for taking the time to respond.

I’m waiting 1.5 years mainly because my plan is to locally house hack my first or few properties, and I’m unsure exactly where a job will locate me post-college. In addition, I don’t yet have 2 years proof of income to obtain more traditional financing. I’ll undoubtedly be further looking into different financing options though!

I noticed you invest in Tennessee, where my summer internship will actually locate me, Franklin specifically. I’m also interested in the same style of investing that you partake in—cosmetically distressed properties to renovate, then rent/sell. I’d love to potentially meet up for coffee or even lunch (on me) over the summer and chat a bit!