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Updated almost 6 years ago on . Most recent reply

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6
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Christopher Owen Cote
  • Rental Property Investor
  • Ogden, UT
1
Votes |
6
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New/Young real estate investor unsure how to start!

Christopher Owen Cote
  • Rental Property Investor
  • Ogden, UT
Posted

So I'm 19 almost 20 with about 17,000 in savings. I am a full-time student studying aerospace engineering at Mississippi State University. The real estate is okay here, and I have been doing some reading of Brandon's book and listening to the podcast for several months. I would love to start investing, but I don't know where to start or If I am too young. I know I want to create passive income via rental properties, and I would like to do this through BRRRR. Any advice on good real estate agents or how to get started?

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Susan Maneck
  • Investor
  • Jackson, MS
762
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1,142
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Susan Maneck
  • Investor
  • Jackson, MS
Replied

In my opinion house hacking is the perfect place for a young college student to start. Use your savings to buy a house as an owner-occupant. Rent out the additional rooms to other students. If you have trouble qualifying for a loan there is something called a Kiddie Condo loan available through FHA. This allows your parents to co-sign for an FHA loan with you. They don't have to be used on condos but any 1-4 unit property. And you only have to come up with 3% down. https://www.mortgage101.com/article/fha-kiddie-condo-loans-first-homes-young-adults

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