College Student House Hack

[Cole Sonner]

Hello BiggerPockets community!

My name is Cole Sonner, and I am going into my second year of college at BGSU. I am studying finance and currently interning with a property management company in my college town. I am sure that I want to have a long career as a real estate investor and want to get started as soon as possible!

I am looking to begin my real estate investment career by house-hacking a 2+ unit house; however, I’m unsure how I should go about sourcing this first deal.

Option 1:

Go through a Real Estate agent (I am in the process of getting my license and have a few connections with my future broker)

Option 2:

Mail to absentee owners who currently own properties that fit my criteria

I know that I would most likely find a better deal if I sourced it through direct mail, yet would like the simplicity that a typical MLS listing would offer.

What are your thoughts on how I should go about finding my first deal?

Any common pitfalls to avoid when house-hacking a college rental? Should I just save money until I get out of college to purchase a few homes that are not college rentals?

A few specifics:

- Mid-Western town

- Population of about 30,000 (students included)

- Limited appreciation of rental properties

- Most college rentals build in 1900s

- College rentals in my area go for around $120k-$200k depending on number of units