Hello Daniel -- You have some good comments and suggetsions. Some are good.
First I have a few questions / Comments :
What town are you living in ? Big city or very small college campus ? --How is the prospect for a job after graduation ? When do you really graduate ? What field you will be in ?
I can write three or four pages --but will try to make it short-- Since you are really serious about making Real Estate as a Career --and Wealth Creation Dream -- by the way is lot better than stocks --if you learn to do right things.
First forget about the land. Unless in specific state or area --It is hard to flip or wholsae land --because usually requires more money down --lenders do only 50% LTV on raw land-- there is no tax write off and there is no cash flow
( income ) to pay mortgage. So initially stay away from land.
Forget about all negative stuff --about finaning etc. " If there is Will there is a Way". You may have to work harder and think outside the box --be creative.
I also assume that you are still single and no kids-- so you can live cheap for few years --no new fancy cars and no TGIFs ---
Saying that --the best idea -- specially if there is no hope for job in your field in your area or if you dont want to do job -- you can stay on campus ( part time student ) or near campus --
and live real cheap- and concentrate on doing some deals make cash --have a goal to have $50,000 liquid cash in three years --
Next - Find Investors / Buyesr or Silent Partners first --that could be doctors, dentists, lawyers, your professors, advisors, parents, unlces, parents friends , other relatives, some rich students in your class --
Prepare a small business plan --strategy -- so you can explain and convince when you meet them. For example--you are a main working partner-you find deal, supervise or do actual physical work to fix up then resell or rent it out and manage for three years --when sold after three years --you split profits --- give them good return, as well as tax shelter -- do some numbers based on available proeprties in your area. Make sure to include yoru fees -salary for finding the property, fixing it up ( painting),
managing etc.
If you have no time now--wait till graduate and stay in same area-- you know the campus and other students --
Find a largest --old house you can find in the area --not to far from campus --may be from an old perosn --who can sell you with owner financing NO down or Lease Option. You can do amster lease and sub lease to six or eight studnets --you can live in one bedroom and take care of house --this will have excellent cash flow for you to live good --monthly income -- ieka rooming house
Also you can find a four plex-- with some investor as partner --for down payment and owner financed or bank loan based on Investors credit and income --you can live on one side and rent three other rooms or apartments --to two students in each --
Your Q1 --about loan -have few comments above by others. Only way possible is to ahev partner.
Q2--You do not feel like you have job available in your fireld. Are you planning to move ?
I mentioend --partner or equity sharing with invetsors / doctors.
There are some companies that will do funding and partnership - profit sharing with you -but you have to buy their course--
You need to learn spend more time in BP and other Real Esatte related Forums--learn more about -how to find motivated sellers, how to negotiate, how to convince them that it will be a win-win for both and sae them credit-how to intervies tenants, Tenant Landlord laws in yoru state --city rules-- etc --
Yes Real Estate is good --"Get Rich Slowly "
but surley game--if you can handle Tenants headaches--vandalism and cash flow problems --there is always a solution to a problem.
Now for Long Term Carreer as RE Investor or Consultant --- even after graduation --first get a real estate license and work for a Reputable Real Estate Broker --who is willing to train you and get you leads -so you make some commision--- Or become an appraisor for steady income--or join a Commercial Real Estate broker-- in Commercial may take some time to get your first deal through --but you will make enough to survive one whole year --
You can also approach --real estate closing attorneys - become a paralegal to do title search etc-- so you learn lot of issues such as Contracts and court recording system -- you can do this part time and work on deals part time --this is all after graduation
NEED TO WORK 70 TO 80 HOURS PER
WEEK FOR FIRST FREW YEARS.
May want to read some real estate investing books --such as " Nothing Down -
by Robert Allen and other books or Courses at Library or borrow from other
Investors. Some REI Club members may have taken such courses or have attended
Boot Camps-- and have audio cds and dvds -- you can borrow.
You can also get a Co-Signer for a loan from Investors --if they dont have cash or dont want to invest cash.
I hope this will help--may be little bit too much,
Good Luck.