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Updated over 10 years ago on . Most recent reply

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24
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3
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Kyle Alberry
  • Watertown, NY
3
Votes |
24
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College Student Near The Rochester Area Looking for Advice

Kyle Alberry
  • Watertown, NY
Posted

Hello BiggerPockets community!

I made a post a couple months ago expressing my interest in real estate, and this is another post showing that I still express interest in financial freedom at 19 years old, and also that I am now willing to take action. 

Through classes and holding a part time job, I would love to learn the real estate market on the side, even if it does not net me sufficient profits. If it comes down to it, I would even go as far as to leave my part time job just to pursue my passion for real estate. 

I go to school at the College at Brockport, which is about 20 minutes away from the Rochester, NY area, and I believe Rochester is a great place to invest. My preferred form of real estate investing would be multifamily long term rentals, and I have huge goals with my career. I would also be interested in fix and flips to obtain more capital.

I have a friend who is not interested in real estate and personal finance per se, but he does a lot of hands on work, and he said he would love to team up with me for some rehabs in the future.

BiggerPockets, with all of your expertise, what do you think my first step should be? Would it be realistic for me to close on an investment property before I leave college?

All help is appreciated, thank you,

Kyle

Most Popular Reply

User Stats

91
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59
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Mark W.
  • Investor
  • Rochester, NY
59
Votes |
91
Posts
Mark W.
  • Investor
  • Rochester, NY
Replied

Not sure if you have any other capital, but I would imagine it would be difficult to obtain financing with a part time job.

Do what I did -- finish your degree and then buy up a multi as soon as you can and live in one unit while renting out the others.  It's the easiest, lowest risk way to see if this business is for you.  Rinse and repeat.

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