Getting Started Right Out of College

[Timothy Limcher]

Hello Everyone,

I recently joined the Bigger Pockets community and have a few questions about getting started in Real Estate Investing! To begin I want to give a little background on my current situation that may resonate with many other members just starting out. 

This last May I graduated from the University of Arkansas and took a tech sales job in the Boise area although my goal is to eventually get into Real Estate full time. I have a good amount of student debt and have only been able to save up several grand since I've graduated. 

That being said, what ways have y'all been able to obtain some property without putting much money down so I can get started? What balance should I look for when saving money to invest and paying off my student loans? What books and resources do you recommend I read while I am in the early learning phase? And as an experienced investor what is the best way for me to approach you if I were looking to help out and learn from you?

Thank you for your time!

[Blaine Alger]

First of all, i think Boise is a good place to be. There are a lot of Cali refugees moving to the state and I could see a lot of growth in the coming years. I would also check out the central part of the state because I think there is a much larger margin for growth.

In regards to the debt to investing ratio, I would just try to save as much as possible and keep your living expenses low. Then you can try to find the right balance of paying off debt and investing.

I would go talk to a bank as soon as you are settled and see what your possibility of financing is. Since you will have a sales job and it might consist of mainly commission and 1099 income, it might be hard to get approved. But a lender will be able to tell you better than I. Once you get approved, go buy a house hack.

In order to find someone to show you the ropes, I would suggest you approach them with  a value add approach. Reach out to every investor in the area on BP and introduce yourself, tell them what you are trying to do and ask them what you can do to help them in their business. NEVER EVER ask someone to be your mentor, that makes me want to throw up. If you bring them value they will return the favor and thats how relationships are built. 

If you have any other questions, feel free to message me. I would be glad to help.

(p.s. I spent the summer in McCall and running around the central part of the state, so i feel I have a pretty decent outlook in that market.)