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Updated over 9 years ago,

User Stats

6
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0
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Gabriel Lopez
  • Edinburg, TX
0
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6
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Is this an awful idea? Starting Young..

Gabriel Lopez
  • Edinburg, TX
Posted

Good morning everyone, Here is my situation,

TLDR: Should I use my heavily subsidized student loans, which may become grants if I complete a student program, as a means of getting started in real estate?

I'm currently 21 years old, and I have around $5,000 in the bank. I live in an area that is currently very low income, but is rapidly expanding. Our university just merged with a neighboring university and a medical school just opened. I am hoping to be accepted there either 2016 or 2017. First of all, I live in Texas where medical school tuition is very, very cheap. (For perspective The Baylor School of Medicine in Houston is ranked #18 nationally and the in-state tuition is only $15,000/year!) Furthermore, I live with my parents less than two minutes away from the university, I own my car and am on full academic scholarship, so I really don't have any financial burdens. In Texas, there is a program that stipulates: If you work as a doctor in a low-income area for four years (the length of my residency), then the government will pardon $150,000 in student loans. 

With this being the case, I will be going to school and be "making" ~$25,000/year once tuition and living expenses are covered, assuming I follow through with the medical program.

My question is;

Do you think it would be an awful idea to save 2 years of those student-loans-to-become-grants, and use them as an investment tool to get into real estate. I've spent a good part of the last year doing a ton of learning about real estate, and hope to spend the next two years furthering my knowledge. I've lived in this area my whole life, and it has been rapidly expanding as long as I can remember, so I want to get in the game ASAP, but at the same time don't want to make any stupid decisions. Sorry if this is a long post. Thanks for your time, and I hope to hear soon from someone! Thanks in advance.


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