College Town Investment Property

[Andrew Harthcock]

Hi everyone!

I am a recent college grad looking into buying my first property. My strategy is a buy and hold rental, and I am looking specifically at college towns. My own college hometown (Austin) is a bit too expensive, so I am looking at places more suited to my price range (San Marcos TX, Lubbock, College Station). Right now I am looking at single family residencies over multi-family. The reason for this is because the cost is much lower, and I don't want to get into too deep for my first investment property. 

Here are my questions: Is it worth it to buy with less than 20% down? For my first property, should I go with a property manager or manage it myself to learn the ropes?