Updated about 10 years ago on . Most recent reply
College student seeking advice
Hello everyone!
I am currently an 18 year old college student majoring in finance. I am looking for as much beginner advice as I can get right now. After getting a decent job in finance field I plan on utilizing an FHA 203k loan to purchase a multifamily property (preferably a 3-4 plex) and live in one unit while renting out the other units. If I am correct you only have to live in the property for a year for the FHA loans and then I could go out and purchase another property using the same strategy. The income from the properties would initially be used a a supplement to my income but I would eventually like to have real estate become my primary source of income. A friend of the family owns a property management company in town and manages over 300 properties so I plan on asking him for advice in the near future. I would love to hear any advice from the Bigger Pockets community! Thank you!