My name is Luke Bauer and I'm brand new to real estate. I'm still in the early stages of educating myself mostly through the BP podcasts/blogs. I figured it was time to reach out and start networking.

I recently graduated from Clemson University and got a job as an engineer just outside of Athens, GA. I'm currently renting an apartment and putting some money away each month in hopes to buy a place of my own when my lease expires in April. I've heard the suggestion on several podcasts that a great way to get started would be to buy a small multifamily and live in one unit and rent the other units. I think this would serve me well as I will not have a large amount of cash for a down payment and would be using an FHA loan to finance this first deal. My other option would be to buy a 2 or 3 bedroom single family and rent the additional bedrooms. Because Athens is a college town and I myself am less than a year out of college, I think this is something that I could make work as well.

Either way, I would be looking to have the rent at least cover the mortgage payments, allowing me to save up for my next buy and hold (of course after paying for taxes/insurance/ repairs etc.) Is this a realistic goal? I have been evaluating properties on sites like Zillow but I'm not sure how accurate my estimates are on things like property tax or more importantly rent.

Let me know if anyone has comments, concerns, or just general tips for getting started. I'd love to get in touch with those of you investing in the Athens area and I'll be sure to keep my eyes on the Athens REIA website to catch the next meeting. I'm excited to jump in!

1 Vote

3 Replies

Jump to Last Reply

Brand new to RE, Athens GA

Most Popular Reply