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Updated over 5 years ago,
Planning for a Multifamily Investment Property As A First Home
My name is Halle Hughes and I am a college student in Minnesota majoring in Real Estate. I have just completed my third year and will graduate next May. I currently have an internship position with a real estate development company with offices in the Twin Cities area as well Denver; I am open to relocate to either area. Post graduation I hope to remain with this company and purchase and reside in a multifamily unit to begin my investment portfolio.
How large of a property is realistic to aim for as a recent college grad without much capital or credit history? Should I start with a duplex or could I jump into a small apartment building right away? I will not have any student loans and hope to have saved around $6000 cash by the time I graduate. What are some financing options that I could look into? I’m open to any and all recommendations as I begin my investment journey. Thanks!